First Atlantic Nickel & Cobalt takes full ownership of North Arm claim
First Atlantic Nickel & Cobalt agrees to acquire the North Arm property for 1 million shares plus a deposit refund, pending TSXV approval.
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what happened
First Atlantic Nickel & Cobalt Corp. (FAN) has reached an agreement to take full ownership of the North Arm Ophiolite Property, which covers 52.25 square kilometres. According to newsfilecorp.com, the price consists of 1.0 million shares at $0.55 each and repayment of $51,250 in deposits.
The transaction requires approval from the TSX Venture Exchange before it can close.
why it matters
The property adds to the company's holdings in ophiolite rocks, which it sees as prospective for nickel, cobalt, hydrogen and chromium. The land carries no royalties or options, but the company also granted 950,000 options at $0.55. Closing timing remains unclear, and the deal is an early exploration step rather than a near-term catalyst.
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sources
- First Atlantic Nickel & Cobalt Corp. (FAN) To Acquire 100% of North Arm Property — newsfilecorp.com, 31 October 2026 at 00:30 UTC
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