Ni-Co Energy closes IPO raising $1.97M gross proceeds
Ni-Co Energy Inc. closed its IPO with gross proceeds of $1,968,024.80 through the sale of 7.12 million common shares. Shares are set to begin trading on the TSX Venture Exchange under the symbol 'NICE' on July 15, 2026. Research Capital Corporation managed the offering, receiving a 10% commission and agent warrants.
*this image is generated using AI for illustrative purposes only.
Ni-Co Energy Inc. has successfully closed its initial public offering, raising total gross proceeds of $1,968,024.80. The company issued 7,123,333 common shares, comprising 6,588,500 hard shares priced at $0.25 each and 534,833 flow-through shares priced at $0.60 each. Trading of the common shares is expected to commence on the TSX Venture Exchange under the symbol 'NICE' on or about July 15, 2026.
Research Capital Corporation acted as the agent on a commercially reasonable efforts basis. The company paid a cash commission of $93,848.49, representing 10.0% of gross proceeds, and issued 345,433 non-transferable agent warrants exercisable at $0.25 per share for 24 months. A corporate finance fee of $50,000 plus GST was also paid.
Offering Details
The offering was conducted in British Columbia, Alberta, Ontario and Québec pursuant to a final prospectus dated May 29, 2026. The company had initially targeted a minimum of 6,000,000 common shares and up to 12,000,000 common shares for gross proceeds between $1,500,000 and $3,000,000.
| Share Type | Quantity Issued | Price per Share | Gross Proceeds |
|---|---|---|---|
| Hard Shares | 6,588,500 | $0.25 | $1,647,125.00 |
| Flow-Through Shares | 534,833 | $0.60 | $320,899.80 |
| Total | 7,123,333 | $1,968,024.80 |
Capital Structure and Escrow
Following the closing, Ni-Co Energy has 71,228,583 common shares issued and outstanding. Of these, 38,315,450 shares held by Ni-Co Exploration Inc. are subject to escrow under National Instrument 46-201, releasing in stages between July 7, 2026 and July 7, 2029. Additionally, 39,640,250 shares are subject to contractual lock-up agreements for 180 days.
Related Party Participation
Certain related parties participated in the offering. Director Jonathan Paquet purchased 60,000 hard shares at $0.25 per share, and Chief Financial Officer Isabelle Gauthier purchased 50,000 flow-through shares at $0.60 per share. The company relied on exemptions from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101, as the transaction values did not exceed 25% of the company's market capitalization.
How does Ni-Co Energy plan to allocate the approximately $1.97 million in gross proceeds to drive exploration and development?
What impact will the release of 38.3 million shares from escrow between 2026 and 2029 have on the stock's liquidity and share price?
What are the company's key operational milestones expected between the IPO and the expiry of the 180-day contractual lock-up agreements?
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