11:55 AM EDT, 05/26/2016 (MT Newswires) -- Royal Nickel Corporation (RNX.TO) has closed its previously announced bought deal financing of 17,060,000 common shares at a price of $0.51 per common share for gross proceeds of $8,700,600.

The net proceeds of the offering will be used for exploration and development of RNC's Beta Hunt mine, as well as for working capital and general corporate purposes.

Royal Nickel's shares were recently up 5.8% at $0.455 apiece.

Price: 0.455, Change: +0.025, Percent Change: +5.81