First Atlantic Raises Additional C$3.77 Million, Bringing September Financing to About C$9.9 Million for Pipestone XL

Published: Sep 29, 2026 09:30 (GMT+8)

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According to First Atlantic Nickel & Cobalt on September 28, the company has completed its second non-brokered private placement without warrants this month, raising approximately C$3.77 million.

Together with the approximately C$6.16 million financing completed on September 18, First Atlantic has raised about C$9.9 million in September. A strategic investor also participated in the latest financing and exercised its rights to maintain an approximately 9.9% ownership stake.

The proceeds will mainly be used to advance exploration and development at the Pipestone XL nickel-cobalt project in Newfoundland, Canada, including further drilling, metallurgical testing, road construction and exploration access. The two consecutive financing rounds provide additional funding for resource validation and technical development while indicating continued strategic investor support for the project.

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