The Offering will consist of any combination of: (i) charity flow-through units (the 'Charity FT Units') at
High-grade nickel sulphide discoveries have been exceedingly scarce in North American lately,' commented Dr.
Crescat is expected to own or control approximately 19% of the common shares of Fathom (the 'Common Shares') on a partially diluted basis upon completion of the Offering, assuming the Offering is completed in full.
Each Charity FT Unit shall consist of one charity flow-through Common Share (a 'Charity FT Share') and one transferable Common Share purchase warrant (a 'Warrant') that shall be exercisable into one Common Share ('Charity Warrant Share') for a period of 24 months from issuance at an exercise price of
Each FT Unit shall consist of one flow-through Common Share (a 'FT Share') and one-half of a transferable Common Share purchase warrant (the 'Unit Warrant'), with one whole Unit Warrant exercisable into a Warrant Share for 24 months from issuance at an exercise price of
Each HD Unit shall consist of one Common Share and one Warrant.
The Offering will be offered by way of a non-brokered 'best efforts' private placement financing offering to 'accredited investors' or pursuant to the other available prospectus exemptions under National Instrument 45-106 Prospectus Exemptions in all provinces of
The aggregate gross proceeds raised from the Charity FT Units and FT Units will be used before
The proceeds from this financing will put Fathom in a great position to commence a field exploration program at the
It is expected that the Company will pay finders a cash commission, on a yet to be determined percentage, based on the gross proceeds of the Offering. In addition, it is expected that the Company will issue warrants to finders (the 'Finder Warrants'), subject to the number of HD Units, Charity FT Units, and FT Units sold pursuant to the Offering.
The sale of HD Units and FT Units is expected to close on or about
The Offering is subject to customary closing conditions, including the approval of the securities regulatory authorities and the Canadian Securities Exchange (the 'CSE').
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in
About
Crescat is a global macro asset management firm headquartered in
Dr.
About
Fathom is an exploration company that is targeting magmatic nickel sulphide discoveries to support the rapidly growing global electric vehicle market.
The Company now has a portfolio of two high-quality exploration projects located in the prolific Trans Hudson Corridor in
Contact:
Tel: 1-403-650-9760
Email: ifraser@fathomnickel.com
Forward-Looking Statements
This news release contains 'forward-looking statements' that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as 'plan', 'expect', 'project', 'seek', 'intend', 'believe', 'anticipate', 'estimate', 'suggest', 'indicate' and other similar words or statements that certain events or conditions 'may' or 'will' occur, and include, without limitation, statements regarding completion of the Offering, price of the FT Units, Charity FT Units and HD Units, dates for closing of the Offering, amount of proceeds under the Offering, approval of the Offering by regulatory authorities, payment of commissions and finder warrants to finders and the Company incurring Qualifying Expenditures. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements.' Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward- looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.
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