First Atlantic Nickel raises $6.16M in flow-through private placement

First Atlantic Nickel & Cobalt Corp. (TSXV: FAN, OTCQB: FANCF, FSE: P210) has closed a non-brokered private placement, raising gross proceeds of $6,157,500 through the issuance of 8,210,000 flow-through common shares at $0.75 per share. No warrants were issued in connection with the offering.

The shares were issued on a flow-through basis under the Income Tax Act (Canada). The company said it plans to incur qualifying Canadian exploration expenses on or before December 31, 2027, and will renounce them in favor of subscribers effective December 31, 2026.

Proceeds are directed toward exploration at the company's Pipestone XL Nickel-Cobalt Alloy Project in central Newfoundland, which spans a 30-kilometer mineralized trend. Planned activities include follow-up and expansion drilling at the Alloy Max South and Alloy Max North Zones, continued drilling at the RPM Zone, and drilling at targets previously accessible only by helicopter. Funds will also support metallurgical recovery and processing test work and upgrades to project access trails.

A portion of the proceeds may also fund exploration at the company's Ophiolite X Project in Newfoundland.

All securities issued are subject to a statutory hold period of four months and one day, expiring January 19, 2027, under Canadian securities law. The offering remains subject to final acceptance by the TSX Venture Exchange. No finder's fees were paid.

Separately, the company disclosed a renewal agreement dated September 17, 2026, with Xander Capital Partners Inc. for investor relations and marketing consulting services at a rate of US$10,000 per month, continuing on an ongoing basis with no fixed expiry date. The renewal is subject to Exchange acceptance.

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