EV Nickel Closes Oversubscribed Private Placement of $2.2M

EV Nickel Closes Oversubscribed Private Placement of $2.2M

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES

EV Nickel Inc. (TSXV:EVNI) ("EVNi" or the "Company") announces that it has closed the oversubscribed, non-brokered, private placement financing (the "Offering") (see news releases dated June 15, 2022 and June 27, 2022) for gross proceeds of C$2,206,831

EV Nickel Inc., Thursday, July 7, 2022, Press release picture

Pursuant to the Offering, the Company issued (i) 7,826,841 flow-through units of the Company (each, a "FT Unit") at a price of C$0.18 per Unit for gross proceeds of C$1,408,831 ; (ii) 3,325,000 FT Units to be sold to charitable purchasers (each, a "Charity FT Unit") at a price of C$0.24 per Charity FT Unit for gross proceeds of C$2,206,831.

"The Company is pleased to close this oversubscribed financing. We are grateful for the continued support from our existing shareholders and welcome our new ones," stated Sean Samson, President and CEO of EV Nickel. "With the financing complete, we are well positioned to continue our strategy combining the High-Grade mineralization like we have at W4 and has been historically mined across the Shaw Dome with the enormous potential of the Large-Scale mineralization we now hope to prove out in Phase 3- bringing it all together to create a Clean Nickel business."

Each FT Unit and Charity FT Unit consists of one common share of the Company, issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.25 for a period of 24 months following the date hereof.

The Company intends to use the net proceeds raised from the Offering for the exploration of the Company's Shaw Dome Project located south of Timmins in Ontario. Proceeds from the sale of FT Shares will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2022, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares. The FT Shares and Warrant Shares are subject to a hold period expiring four months and one day from their date of issuance.

In connection with the Offering, the Company paid finder's fees on portions of the Offering. These finder's fees totalled C$152,378 in cash and 536,212 warrants in the Company ("Finder's Warrants") exercisable at any time from the Closing Date to the day prior to the date that is 24 months following the date hereof to acquire common shares in the Company at an exercise price equal to C$0.16 per common share. Red Cloud Securities Inc. and PowerOne Capital Markets Limited acted as finders in connection with the Offering.

About EV Nickel Inc.

EV Nickel's mission is to accelerate the transition to clean energy. It is a Canadian nickel exploration company, focussed on the Shaw Dome area, south of Timmins, Ontario. In addition to extensive historic production, the Shaw Dome area is home to the Langmuir W4 Zone, the basis of a 2010 historical estimate of 677K tonnes @ 1.00% Ni, ~15M lbs of Class 1 Nickel. EV Nickel plans to grow and advance a Clean Nickel TM business, targeting the growing demand for Class 1 Nickel from the electric vehicle battery sector. EV Nickel has more than 30,000 hectares to explore and has identified more than 100km of favourable strike length.

Cautionary Note Regarding Forward-Looking Statements:

This press release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "proposed", "expects", "intends", "may", "will", and similar expressions. Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although EV Nickel believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, changes in business plans and strategies, market conditions, share price, best use of available cash, the ability of the Company to raise sufficient capital to fund its obligations under various contractual arrangements, to maintain its mineral tenures and concessions in good standing, and to explore and develop its projects and for general working capital purposes, changes in economic conditions or financial markets, the inherent hazards associated with mineral exploration, future prices of metals and other commodities, environmental challenges and risks, the Company's ability to obtain the necessary permits and consents required to explore, drill and develop its projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives, changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with such laws and regulations, the Company's ability to obtain required shareholder or regulatory approvals, dependence on key management personnel, natural disasters and global pandemics, including COVID-19 and general competition in the mining industry. These risks, as well as others, could cause actual results and events to vary significantly. The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of EV Nickel based on information currently available to the Company. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement.

Contact Information

For further information, visit www.evnickel.com

Or contact: Sean Samson, Chief Executive Officer at samson@evnickel.com.

EV Nickel Inc.
200 - 150 King St. W,
Toronto, ON M5H 1J9
www.evnickel.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

SOURCE: EV Nickel Inc.



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EV Nickel announces continued High-Grade Nickel Intersections from Langmuir, completing the Phase 1 Drilling

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES

  • The second half of the Phase 1 drill program on the Langmuir Nickel Project included:
    • EV21-09 intersects 15.7 metres grading 1.14% Ni on eastern margin of W4
    • EV21-01 intersection extended to 19.5 metres grading 0.96% Ni
  • These results now confirm nickel sulphide mineralization to the east and west of the W4 Zone
  • Phase 2 drilling starts now, on additional high priority targets, full details of the plan to be released next week

EV Nickel Inc. (TSXV:EVNI) ("EVNi" or the "Company") is pleased to report the assay results for the full Phase 1 drill program on the Langmuir Nickel Project ("Langmuir" or the "Property"). Building off of the first half results shared in December (see December 8, 2021 News Release), Rogue continues to identify high-grade mineralization along trend of the W4 Zone

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EV Nickel Announces High-Grade Nickel Intersections From Langmuir Project

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES

  • Extremely high-grade nickel associated with W4 Zone including 8.66% Ni over 1.11 metres in hole EV21-01
  • Very high nickel tenors ranging from 18% to >40% Ni (estimated content of nickel in 100% sulphide) associated with the W4 Zone anticipated to be reflected in concentrate grades when metallurgical testing is initiated
  • Drilling has intersected the mineralized ultramafic unit to the west of the defined boundary of the W4 zone

EV Nickel Inc. (TSXV:EVNI) ("EVNi" or the "Company") is pleased to announce that exploration drilling on the Langmuir Nickel Project ("Langmuir" of the "Property") from the inaugural drill program with significant intersections from within and along the eastern and western boundaries of the W4 Nickel Zone

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Tartana to explore accessing Mungana Processing Plant

Tartana to explore accessing Mungana Processing Plant

Tartana Minerals (TAT:AU) has announced Tartana to explore accessing Mungana Processing Plant

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Vertex Minerals Limited  Commissions Laser Ore Sorter

Vertex Minerals Limited Commissions Laser Ore Sorter

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce that it has commenced commissioning the recently installed Ore sorter/pre concentrator at the Hill End Gold plant.

Vertex's Executive Chairman, Roger Jackson commented: "The ore sorting installation and commissioning is very exciting as this presents incredible commercial and environmental benefits for Vertex. It has been shown that Reward Gold ore is perfectly suited for this technology. By upgrading the Reward high-grade ore material to an even higher grade,significantly reducesthe processing costs and increasing the returns per tonne".

Reward Gold sorting success can be attributed to several factors:

- The ability of TOMRA's LASER system to detect, classify, and eject quartz away from the relatively low to nil -grade host-rock

- The liberation of quartz from host-rock at this size fraction

- The reliability of gold association to quartz in this ore

- Reward Greywacke perfectly separates from the quartzin blasting and crushing

HIGHLIGHTS:

- Ore sorter/pre concentrator now being commissioned at the Hill End gravity gold plant.

- With the new Sorter installed, TOMRA technicians are over this week commissioning the laser sorter and incorporating it into the Hill End gravity gold plant.

- The sorter commissioning is being undertaken while the gravity concentrator is commissioning/processing gold ore.

- Vertex operators are being trained by Gekko Technicians

- Reward gold mine ore sorts perfectly, with 79% mass reduction & 337.20% increase in grade in the 8mm to 50mm range. (refer to VTX ASX announcement 11 of September 2024)

TOMRA's LASER sorting technology (Sorter) separates gold bearing quartz ore from waste (slate & greywacke) before it enters the processing plant.

Vertex believe ore sorting technology can positively impact the sustainability and profitability of Vertex's operations at Reward by.

- Gravity processing significantly higher -grade ore post sorting, and less feed tonnes, resulting in reduced.

o plant running time
o operator hours
o energy & water consumption, leading to,
o lower operating costs and
o reduced carbon footprint.

- Further - Tailings material (sand) can be significantly reduced in volume, leading to further ESG benefits and cost savings.

*To view photographs, please visit:
https://abnnewswire.net/lnk/293QA043



About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.



Source:
Vertex Minerals Limited

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