01:25 PM EDT, 09/25/2025 (MT Newswires) -- NiCAN ( NILTF ) on Thursday said it will raise $1.4 million om a non-brokered private placement of share units, and could upsize the offer to $1.75 million.

The offering will be made up pf a mix of hard-dollar units (HD Units) and flow-through units (FT Units), each priced at $0.05 per unit. HD Units will consist of a share and a two-year warrant to buy a show for $0.06. FT Units will be made up of a tax-advantaged share and a warrant with the same terms.

NiCAN ( NILTF ) said proceeds from FT Units will be applied to eligible Canadian exploration expenses at its Manitoba projects, while funds from HD Units will support general working capital and corporate costs.

Shares of NiCAN ( NILTF ), a mineral exploration stock, were last seen down $0.005 to $0.040 on the TSX Venture Exchange.