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Class 1 Nickel and Technologies Ltd (OTCQB:NICLF, CSE:NICO) proposes a non-brokered private placement of up to 2,419,354 Units at C$0.124 each to raise up to C$300,000, and a Share for Debt issuance of 16,666,666 Shares at a deemed C$0.12/share to settle C$2,000,000 of debt.
Insiders may participate in the Private Placement; Mr. David Fitch will receive all Shares under the Share for Debt Transaction. Transactions are subject to statutory hold periods and CSE approval. The company intends to use proceeds for general corporate purposes.