First Nickel Inc. announced that it has entered into agreements with its lenders to increase the amount available under the company's existing credit facilities. The Transaction involves an increase in the principal amount of the revolving credit facility with The Bank of Nova Scotia from USD 15 million to USD 18 million and a corresponding increase to the standby letter of credit posted by Resource Capital Fund V L.P. from USD 7.5 million to USD 10.5 million. As a result, the company also amended its credit facility with RCF V that backstops the RCF V Letter of Credit.

The increased financing will provide the company with liquidity that will enable it to fund capital expenditures at the Lockerby Mine.