Homeland Nickel Inc. (TSXV: SHL; OTCQB: SRGCF) announced on September 14, 2026, that its previously announced non-brokered private placement has been fully subscribed, raising approximately C$3,040,000 through the issuance of up to 8,000,000 units priced at C$0.38 each. The financing, first disclosed on August 26, 2026, includes a warrant component offering additional upside for investors. Proceeds are earmarked for property payments, exploration activities, and general corporate purposes at the company's nickel projects in Oregon.

Key Points

  • Homeland Nickel Inc. (TSXV: SHL; OTCQB: SRGCF) confirmed full subscription of its private placement
  • Up to 8,000,000 units priced at C$0.38 each, raising approximately C$3,040,000 in aggregate gross proceeds
  • Each unit comprises one common share and one-half of one warrant exercisable at C$0.50 for 24 months post-closing
  • Closing remains subject to final TSX Venture Exchange acceptance; insider participation constitutes a related party transaction under MI 61-101

Unit Structure and Warrant Terms for Homeland Nickel's Private Placement

Each unit sold in the financing consists of one common share and one-half of one common share purchase warrant, meaning two units are required to form one whole warrant. Each whole warrant entitles the holder to acquire one additional common share at an exercise price of C$0.50 per share for a period of 24 months following the closing of the financing. The unit price of C$0.38 and the warrant exercise price of C$0.50 represent the key economic terms disclosed in the announcement. The company did not disclose the identities of all subscribers participating in the placement.

Intended Use of Proceeds Tied to Oregon Nickel Exploration Portfolio

Homeland Nickel states it intends to use net proceeds from the financing to fund property payment obligations and exploration activities across its mineral exploration projects, as well as for general corporate purposes. The company holds nine nickel projects in Oregon, including the Cleopatra Property, which the release describes as containing a historical resource of approximately 40 megatonnes of laterite grading 0.9% nickel — cited as the largest historical undeveloped nickel resource in the continental United States. Investors may be watching how capital allocation progresses across these critical metal assets.

Insider Participation and Regulatory Exemptions Under MI 61-101

Certain directors and officers are expected to acquire units in the financing, which the company acknowledges constitutes a related party transaction under Multilateral Instrument 61-101. Homeland Nickel anticipates relying on exemptions from formal valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that the value of securities acquired by insiders and the consideration paid are not expected to exceed 25 percent of the company's market capitalisation as determined under MI 61-101. Closing remains subject to final TSX Venture Exchange acceptance.