{"url":"https://newsforagent.com/news/2026-10-31/first-atlantic-nickel-north-arm-acquisition","markdown_url":"https://newsforagent.com/news/2026-10-31/first-atlantic-nickel-north-arm-acquisition.md","title":"First Atlantic Nickel to Buy North Arm Project for 1.0M Shares","headline":"First Atlantic Nickel Agrees to Acquire 100% of North Arm Ophiolite Property for 1.0M Shares","description":"First Atlantic Nickel & Cobalt will acquire 100% of the 52.25 sq km North Arm Ophiolite Property for 1.0M shares at $0.55 plus $51,250 in deposit reimbursements, pending TSXV acceptance.","section":"Mergers & Acquisitions","published_at":"2026-10-31T01:29:08+00:00","modified_at":"2026-10-31T01:29:08+00:00","author":"News Desk","key_takeaways":["First Atlantic Nickel & Cobalt agreed to acquire 100% of the 52.25 sq km North Arm Ophiolite Property for 1.0M shares at $0.55.","The deal includes reimbursement of $51,250 in deposits and carries no royalties or options.","Closing is subject to TSXV acceptance, with FinanzNachrichten.de reporting an expected close by January 31, 2027."],"companies":[{"name":"First Atlantic Nickel","is_primary":true,"profile_url":"https://akta.pro/company-profiles/0000on9/first-atlantic-nickel","website":"http://www.fanickel.com"}],"source":{"publisher":"TradingView","title":"First Atlantic Nickel & Cobalt Corp. (FAN) To Acquire 100% of North Arm Property","url":"https://www.tradingview.com/news/tradingview:aad58a18ad5ee:0-first-atlantic-nickel-cobalt-corp-fan-to-acquire-100-of-north-arm-property/"},"other_sources":[{"publisher":"FinanzNachrichten.de","url":"https://www.finanznachrichten.de/nachrichten-2026-10/69994961-first-atlantic-nickel-cobalt-corp-first-atlantic-to-acquire-100-of-the-north-arm-project-52-sq-km-of-mantle-derived-ultramafic-rocks-in-western-296.htm"},{"publisher":"Aktien","url":"https://www.wallstreet-online.de/nachricht/21612897-first-atlantic-to-acquire-100-of-the-north-arm-project-52-sq-km-of-mantle-derived-ultramafic-rocks-western-newfoundland-never-systematically-tested-for-geologic-hydrogen-chromium-or-awaruite-nickel-cobalt-alloy"}],"tags":["Mergers & Acquisitions","First Atlantic Nickel"],"body_markdown":"[First Atlantic Nickel](https://akta.pro/company-profiles/0000on9/first-atlantic-nickel) & Cobalt Corp. agreed to acquire 100% of the 52.25 sq km North Arm Ophiolite Property for 1.0M shares at $0.55 and reimbursement of $51,250 in deposits, subject to TSXV acceptance, [TradingView](https://www.tradingview.com/news/tradingview:aad58a18ad5ee:0-first-atlantic-nickel-cobalt-corp-fan-to-acquire-100-of-north-arm-property/) reported on October 31, 2026. The deal carries no royalties or options.\n\n## First Atlantic's North Arm Share Terms\n\nFirst Atlantic Nickel & Cobalt is a Canadian mineral exploration company developing awaruite nickel-iron-cobalt alloy deposits in Newfoundland, according to [akta.pro company records](https://akta.pro/company-data). The company uses a proprietary smelter-free process to produce high-grade concentrate for EV battery, stainless steel, defense and aerospace supply chains.\n\nThe North Arm Project comprises 209 mineral claims spanning 52.25 square kilometers in western Newfoundland, [FinanzNachrichten.de](https://www.finanznachrichten.de/nachrichten-2026-10/69994961-first-atlantic-nickel-cobalt-corp-first-atlantic-to-acquire-100-of-the-north-arm-project-52-sq-km-of-mantle-derived-ultramafic-rocks-in-western-296.htm) reported. The property is prospective for geologic hydrogen, awaruite nickel alloy, copper, platinum group elements and chromium, and has not been systematically tested for these resources, [Aktien](https://www.wallstreet-online.de/nachricht/21612897-first-atlantic-to-acquire-100-of-the-north-arm-project-52-sq-km-of-mantle-derived-ultramafic-rocks-western-newfoundland-never-systematically-tested-for-geologic-hydrogen-chromium-or-awaruite-nickel-cobalt-alloy) reported.\n\nFirst Atlantic also granted 950,000 options at $0.55. FinanzNachrichten.de reported that closing is expected by January 31, 2027.\n\n## First Atlantic's Pipestone And Hydrogen Work\n\nFirst Atlantic signed a non-binding Letter of Intent with Vema Hydrogen on June 1, 2026 for a 50/50 joint venture to develop Engineered Mineral Hydrogen at the Pipestone XL project, according to akta.pro company records. The company holds 100% ownership of the entire 30-kilometer Pipestone Ophiolite Complex, the same records show.\n\nFirst Atlantic announced ONSHORE MAX process results from SGS Canada bench-scale testing in June 2026, producing awaruite concentrate grading up to 71.9% nickel and 1.76% cobalt, according to the same records. The company appointed Dr. Douglas Wicks, a former ARPA-E Program Director, as Strategic Advisor effective April 29, 2026.\n\n## Drilling And Funding Before North Arm\n\nFirst Atlantic drilled discovery hole XL-26-18 at Alloy Max South in October 2026, intersecting abundant awaruite with grains up to 348 microns within 35 meters of surface, GlobeNewswire reported. The hole ended in mineralization at 40 meters.\n\nIn September 2026, First Atlantic closed a non-brokered private placement raising $6.2 million through 8,210,000 flow-through shares at $0.75 each, FinancialContent Business Page reported. Proceeds will fund exploration drilling and metallurgical testing at the Pipestone XL Nickel-Cobalt Alloy Project in Newfoundland.\n\nFirst Atlantic announced in August 2026 that drill hole XL-26-16 at Pipestone XL intersected 525 meters of mineralized awaruite, extending the Alloy Max zone, FinancialContent Business Page reported.\n\n## North Arm Closing Date\n\nFinanzNachrichten.de reported that closing of the North Arm acquisition is expected by January 31, 2027, subject to TSXV acceptance.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}