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NorthX Nickel Corp. (CSE: NIX, OTCQB: RCHRD, FSE: 6YR0) announced the closing of a non-brokered private placement of 9,479,166 units at $0.24 per unit, raising $2,275,000. Each unit includes one common share and one warrant, with the warrant exercisable at $0.36 until May 14, 2027. Mason Resources Inc. acquired 4,166,667 units, representing a 14.6% stake. Additionally, Wallbridge Mining acquired 1,487,500 units for $357,000. The funds will be used for reclamation work and general corporate purposes. New board members include Simon Marcotte and Adree DeLazzer, following the resignation of Chair David Cobbold. Simon Marcotte will serve as Executive Chair. Insider participation in the offering totaled 541,665 units.
NorthX Nickel Corp. completes a share consolidation and name change, consolidating common shares and outstanding warrants. The company changed its name from 'Archer Exploration Corp.' to 'NorthX Nickel Corp.' and started trading under the symbol 'NIX' on the Canadian Securities Exchange. Prior to the consolidation, the company had 113,889,587 common shares, 35,293,720 existing warrants, and other outstanding units. Following the consolidation, the company has 18,981,483 common shares and reduced numbers of other units issued and outstanding.