Fathom Nickel Inc. Completes Final Tranche of Upsized Private Placement
Fathom Nickel Inc. (CSE: FNI), a Canadian mining enterprise focused on nickel exploration, announced the successful closing of the second and final tranche of its upsized private placement on 26 February 2026. The company’s executive team highlighted that the two‑tranche offering, originally announced on 28 January 2026, has now raised the full target of C$4 million, positioning the firm for the next phase of its exploration program at Gochager Lake.
Financing Structure and Proceeds
The final tranche involved the issuance of 24,970,947 non‑flow‑through units (NFT Units) at a price of C$0.031 per unit, generating gross proceeds of C$774,099. When combined with the first tranche, closed on 18 February 2026, Fathom has issued a total of 52,083,334 charity flow‑through units (Charity FT Units) at C$0.048 per unit (gross proceeds C$2,500,000) and 48,387,076 NFT Units at C$0.031 per unit (gross proceeds C$1,499,999). The cumulative proceeds from both tranches equal C$3,999,999, effectively reaching the company’s target.
Each NFT Unit is structured to comprise one common share of Fathom Nickel and one transferable common‑share purchase warrant. The warrant is exercisable into an additional share (“Warrant Share”) at an exercise price of C$0.05 for a period of 36 months from issuance. The Charity FT Units similarly contain a flow‑through share (FT Share) and a transferable warrant, exercisable into a Warrant Share under the same terms. The flow‑through status of these shares qualifies them for tax‑advantaged treatment under the Income Tax Act of Canada and the Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan).
The issuance of 100,470,410 units (NFT and Charity FT combined) was conducted under the accredited‑investor exemption of National Instrument 45‑106, and the units are subject to a resale restriction of four months and one day from distribution.
Implications for Exploration Plans
With the upsized financing now complete, Fathom Nickel’s President and Chief Financial Officer, Doug Porter, remarked that the company is “fully funded to execute on the planned exploration drill program at Gochager Lake for up to 4,000 meters.” The drill program is slated to employ the expertise of geoscientists led by Ian, whose team will conduct advanced sampling and geophysical surveys to assess nickel mineralization potential.
The firm’s market data as of 23 February 2026 shows a closing price of C$0.04 per share, with a 52‑week high of C$0.055 on 4 February 2026 and a 52‑week low of C$0.02 on 1 January 2026. Fathom Nickel’s market capitalization stands at approximately CAD 11.07 million, reflecting the modest size of the company within the broader Canadian mining sector.
Strategic Outlook
The successful completion of the private placement underscores Fathom Nickel’s ability to mobilize capital from accredited investors while maintaining compliance with Canadian securities regulations. The infusion of capital will enable the company to advance its exploration pipeline, potentially unlocking value for shareholders should the Gochager Lake project yield commercially viable nickel resources.
Investors and market participants will likely monitor the forthcoming drill results closely, as they will shape expectations for Fathom Nickel’s future capital needs and operational trajectory.
