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ArcPacific Resources Corp ( (TSE:FAN) ) just unveiled an update.
First Atlantic Nickel Corp., a company focused on nickel exploration and development, has secured a $3 million investment through a non-dilutive unsecured debenture. This strategic funding will fully support the company’s Phase 2 drilling program and associated metallurgical testing at the Atlantic Nickel Project, marking a significant milestone as the largest capital funding in the company’s history. The favorable terms of the debenture, including a five-year deferral on interest and principal payments, allow the company to proceed without immediate dilution of equity. The investment is expected to accelerate the exploration and development of the RPM Zone, enhancing the company’s operations and positioning within the nickel industry.
More about ArcPacific Resources Corp
YTD Price Performance: 11.63%
Average Trading Volume: 622,705
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$20.59M
Learn more about FAN stock on TipRanks’ Stock Analysis page.
