/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES/
MONTREAL, July 21, 2015 /CNW Telbec/ - Sentient Executive GP IV, Limited ("Sentient IV") announces that, in connection with a private placement with North American Nickel Inc. ("NAN"), it has acquired control over 20,942,931 units (the "Units") of NAN on July 21, 2015.
Each Unit is comprised of one common share in the capital of NAN (a "NAN Share") and one half common share purchase warrant of NAN (each whole common share purchase warrant, a "NAN Warrant"). Each NAN Warrant entitles the holder thereof to acquire a NAN Share at a price of $0.30 per share until July 20, 2017. As such, Sentient IV acquired control over 20,942,931 NAN Shares and 10,471,465 NAN Warrants.
Sentient IV has control over 102,714,216 NAN Shares (representing approximately 49.73% of the outstanding NAN Shares) and the right to acquire 10,471,465 NAN Shares through 10,471,465 common share purchase warrants issued by NAN. In the event all of the 10,471,465 common share purchase warrants issued by NAN are fully exercised, Sentient IV would acquire control over a maximum of 113,185,681 NAN Shares (including the 102,714,216 NAN Shares over which Sentient IV currently has control). These combined holdings would represent approximately 52.16% of the outstanding NAN Shares, calculated on a partially diluted basis assuming the full exercise of the 10,471,465 common share purchase warrants issued by NAN held by Sentient IV only.
Sentient IV acquired the Units for investment purposes only and not with a view to materially affecting control of NAN.
SOURCE Sentient Executive GP IV, Limited
For further information: or to obtain a copy of the Early Warning Report filed by Sentient IV, please contact Sue Bjuro at (345) 946-0933.