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“Power Nickel is grateful for the support of some of the leading investors in mining. Like us, they believe Nisk has exceptional exploration upside. With this capital, we will be able to substantially increase our already very successful exploration efforts. We currently have one drilling rig targeting the extension of the
The Company worked with Wealth Creation Preservation & Donation Inc. and IA Capital Markets on the financing front end and used advisory services of Red Cloud Securities Inc. and H&P Advisory Limited in connection with the Offering. Back-end purchasers acquired the underlying common shares and Warrants from the front-end buyers of the FT Units, at
The Company will use the gross proceeds from the sale of the FT Units for exploration activities on the Company’s Nisk property located in
The Offering is subject to the Company’s final filing requirements with the TSX Venture Exchange (“TSXV“) approval. All securities issued under the financing are subject to a hold period of four months and one day from the date of issuance.
The Company paid finder’s fees on the financing, including 265,027 finder warrants exercisable for a period of 18 months from closing into a common share at
About Power Nickel Inc.
Power Nickel is a Canadian junior exploration company focusing on developing the High-Grade Nickel PGM, Gold and
On
The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Nickel is focused on expanding the high-grade nickel-copper PGM, Gold and Silver mineralization with a series of drill programs designed to test the initial Nisk discovery zone, the Lion discovery zone and to explore the land package for adjacent potential poly metallic deposits.
In addition to the Nisk project, Power Nickel owns significant land packages in British
For further information, readers are encouraged to contact:
Power Nickel Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This message contains certain statements that may be deemed “forward-looking statements” concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” “indicates,” “opportunity,” “possible” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company’s plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.
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