NEW YORK Two Canadian
nickel companies announced private share placements this past
week to raise funds for projects.
Nickel North Exploration
Corp.s nonbrokered private placement for up to 13.3
million shares seeks to raise $4 million, while Royal Nickel
Corp. announced a private placement of up to 4 million shares
to raise as much as $2 million.
Columbia-based Nickel North Exploration will invest the raised
funds in its Hawk Ridge nickel-copper project in northern
Quebec, the company said.
Toronto-based Royal Nickel will
put the money toward investigating a region near its Dumont
nickel project in Quebec, which contains nickel, palladium,
platinum, copper and cobalt.
"It is prudent to follow up on
this discovery at this time, to ascertain whether further
high-grade mineralization exists along the footwall contacts
outside the known Dumont ore body, particularly as our
exploration team has now largely finished its work for the
Dumont feasibility study," Royal Nickel president and chief
executive officer Tyler Mitchelson said in a statement.