Québec Nickel Corp announced a brokered private placement of 25,000,000 units at a price of 0.20 per unit for proceeds of up to CAD 5,000,000, 8,333,333.33333 flow-through shares at a price of CAD 0.24 per share for proceeds of up to CAD 2,000,000, and 12,000,000 flow-through shares at a price of CAD 0.25 per share for proceeds of up to CAD 3,000,000 for maximum aggregate proceeds of up to CAD 10,000,000 on November 24, 2022. Each Unit shall be comprised of one common share and one half of a common share purchase warrant. Each whole Warrant shall entitle the holder thereof to acquire one additional Common Share at a price of CAD 0.30 for a period of two years from the closing date.

The EMD Financial Inc. led the transaction as finder, In connection with the Offering, the company will pay finder's fees and issue finder warrants to EMD Financial Inc. as well as any other registrants participating in the Offering consisting of cash finder's fees of up to 6% of the gross proceeds of the Offering and finder warrants in an amount equal to up to 6% of the number of Units, flow-through Shares and flow-through Shares issued pursuant to the Offering, exercisable at a price of CAD 0.30 per common share for a period of two years following the Closing Date. All other securities issued pursuant to the Offering will be subject to the statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. The Offering is anticipated to close on or about December 8, 2022, or such later date as the Company may determine.

The closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadians Securities Exchange.