North American Nickel Inc. announced a best efforts private placement of 10,416,666 subscription receipts at a price of CAD 0.48 per unit for gross proceeds CAD 5,000,000 on April 4, 2022. Each subscription receipt will consist of one common share of the company. The company has granted the agents an option to increase the transaction by up to an additional 15% of the transaction size, exercisable at any time and from time to time up to 48 hours prior to the closing date. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the conditional approval of the Toronto Stock Exchange. The transaction is expected to close on or about April 28, 2022. The securities issued pursuant to the Offering will be subject to applicable hold periods, including the typical four month period from Closing Date of the Offering.