The new facility has an initial two year term.
First Nickel vice president and chief financial officer Steven Cresswell said, "These two transactions further strengthen our balance sheet providing $13.5 million of additional liquidity."
The funds will be used to finance working capital requirements for the Lockerby mine and for general corporate purposes.
First Nickel in addition said that it has freed up capital tied to its Lockerby mine closure plan, replacing a letter of credit with a surety bond.
The bond ensures the full cost of the $5.9m closure plan with the company posting $2.4m as cash security in support of the bond.
