FPX Nickel Announces Appointment of Cooper Quinn as New CEO of Subsidiary Company CO2 Lock Corp.

FPX Nickel Announces Appointment of Cooper Quinn as New CEO of Subsidiary Company CO2 Lock Corp.

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointment of Cooper Quinn as the President and Chief Executive Officer of its carbon capture and storage (" CCS ") subsidiary company, CO2 Lock Corp (" CO2 Lock "). Mr. Quinn brings to CO2 Lock over 15 years of experience in Canadian and international geoscience, with a diverse background in senior management of exploration programs and company leadership.

FPX Nickel Corp logo (CNW Group/FPX Nickel Corp.)

"We are very pleased to welcome Cooper as CO2 Lock's CEO, who will lead the charge in our pursuit of opportunities in large-scale, low-cost and permanent CCS," commented FPX's Chairman, Peter Bradshaw . "Cooper brings a demonstrated track record of value creation in the geosciences and a personal passion for environmental sustainability, key attributes for accelerating our ambitions to achieve gigaton-scale carbon mineralization in prospective geological settings around the planet."

On March 30, 2022 , FPX announced the formation of CO2 Lock to pursue geoscience-related CCS opportunities. Expanding from five years of laboratory and field research conducted with partners including the University of British Columbia (" UBC ") and Natural Resources Canada (" NRCan "), CO2 Lock is focused on developing CCS operations in geological settings worldwide with similarities to FPX's Decar Nickel District. CO2 Lock has established ownership interests in prospective mineral tenures and is developing intellectual property associated with the operation of CCS sites worldwide.

"I'm very excited about the opportunity represented by CO2 Lock," said Cooper Quinn . "Shifting our planet to net-zero is going to require a staggering amount of emissions reduction and CCS to return the atmosphere to pre-industrial levels. I'm hopeful CO2 Lock can contribute a meaningful amount to this global challenge. Having access to the five years of CCS data and research from FPX, we have an excellent head start, including a global database of potential storage locations that gives us a first-mover advantage in developing standalone sites to permanently mineralize and store CO2."

Mr. Quinn has over 15 years of experience in the mining industry, ranging from on-site project exploration to public company management, mergers-and-acquisitions, and due diligence mandates. Most recently, he was the President of Canterra Minerals, a public company conducting exploration activities in Newfoundland. Prior to joining Canterra, Mr. Quinn was President of Osprey Gold, an exploration company focused on Nova Scotia , which was acquired in 2020 by MegumaGold. He has worked for a variety of exploration and development companies across numerous commodities with projects in North America , Greenland , Europe , and the South Pacific Islands.

Mr. Quinn assumes the role of CO2 Lock's CEO from David Molinski , who served as the entity's founding CEO. Mr. Molinski will continue to serve on CO2 Lock's board of directors alongside Peter Bradshaw and FPX's President and CEO, Martin Turenne .

For further information on CO2 Lock and FPX Nickel's carbon mineralization testwork, see the Company's news releases dated March 30 and May 31, 2022 .

About CO2 Lock Corp.

CO2 Lock's vision is to commercialize the CCS potential of ultramafic brucite-rich serpentinized peridotite host rocks, with a mission to license or construct and operate commercial CCS projects capable of permanently and profitably locking away hundreds of millions of tonnes of CO2 per year at scale. In pursuit of this objective, CO2 Lock will execute exploration and engineering activities to advance the development of large-scale carbon operations capable of mineralizing carbon dioxide in these rocks and associated carbon-depleted waters both at-surface (ex-situ mineralization) and underground (in-situ mineralization). CO2 Lock's website is accessible at www.co2lockcorp.com .

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/July2022/05/c5318.html

News Provided by Canada Newswire via QuoteMedia

FPX:CA
FPX Nickel

FPX Nickel Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
OTXQB: FPOCF

FPX Nickel


Keep reading...Show less
FPX Nickel Outlines Baptiste Nickel Project Advancement Activities

FPX Nickel Outlines Baptiste Nickel Project Advancement Activities

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to outline plans for advancement of the Baptiste Nickel Project (" Baptiste " or the " Project ") in 2024. Building on the completion of the robust 2023 preliminary feasibility study (" PFS "), the Company's strategy is designed to prioritize critical path activities in preparation for entry into the Provincial and Federal environmental assessment (" EA ") in the first quarter of 2025.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

Highlights

  • Critical readiness activities for the EA are focused on three key areas:
    • Collaboration with Indigenous communities: Achieved through building of relationships and progression towards establishment of EA agreements with potential participating Indigenous communities. This will include enshrining protocols for collaborative decision-making and consent-based processes with each community.
    • Cultural and environmental baseline studies: FPX is committed to an Indigenous-led baseline program, and the Company's ongoing and expanded program will continue to build the comprehensive dataset required for the EA process and engineering studies.
    • Engineering studies and feasibility readiness: Through desktop and laboratory programs, the Company will continue to refine key Project elements, readying the project for the EA and feasibility study processes.

"FPX is focused on prioritizing and advancing the key workstreams to successfully enter the EA process, which sits along the critical path for the overall development of the Baptiste Nickel Project," commented Martin Turenne , FPX's President and CEO. "We are committed to executing project development activities in partnership with Indigenous communities in the Project area and look forward to supporting the development of Canada's critical minerals ecosystem in keeping with our core values of safety, respect, and collaboration."

Collaboration with Indigenous Communities

In 2024, the Company will work to establish EA agreements with all potential participating Indigenous communities. FPX is committed to building relationships with Indigenous communities early and through inclusive processes, to providing resources to enable engagement and collaborative decision-making, to enabling Indigenous communities to advance self-determined goals, and to optimizing long-term sustainable benefits and opportunities connected to the Project.

FPX will continue collaborative Project design in advance of the EA process, building on a series of mine design workshops initiated in 2023. Initial discussions in these workshops have focused on community values and preliminary learnings from Indigenous-led environmental baseline studies and have emphasized the importance of respect and protection of the environment.

A collaborative decision-making process with Indigenous communities is planned in 2024 to determine key aspects of mine design including tailings facility location and powerline routing, in advance of entering the EA process. Agreements with Indigenous communities are a priority for the Company in 2024 as they will be a mechanism to formalize these commitments and initiatives.

Cultural and Environmental Baseline Studies

Cultural and environmental baseline studies have been ongoing for the Baptiste Nickel Project since early 2022 and include surface water hydrology and water quality, wildlife, vegetation, fisheries and aquatics, and archeology programs. Ongoing and expanded 2024 programs have been scoped in preparation for the EA process. The 2024 field program will include an expansion of activities in the Project area, and commencement of studies focused on linear infrastructure, including the Project access road and powerline corridors.

FPX is committed to the ongoing execution of an Indigenous-led cultural and environmental baseline program. To achieve this, the Company has prioritized engagement of Indigenous-owned businesses and partnerships, such as Shas-Ti Environmental LP and Sasuchan Environmental LP, to ensure integration of Indigenous perspectives into the scoping and execution of these studies.

"The environmental consulting group Ecofor and the community of Binche have a long history of working together and in 2022 this was formalized by the establishment of Shas-Ti Environmental, a partnership undertaking the Indigenous-led baseline studies and training of community members for the Baptiste Nickel Project," commented Dwayne Martin , Community Liaison Manager for Shas-Ti Environmental. "A Dakelh phrase that guides our approach to collaboration is Alhgoh 'uts'ut'en, meaning we all work together . We are extremely proud of the work we are doing and that FPX is committed to this philosophy of working together."

Project Design & Engineering

Following completion of the PFS in October 2023 , the Company conducted a comprehensive planning exercise to define the path forward for Baptiste through project development and into production, and to ensure the Company will enter the EA process with the level of engineering definition necessary to de-risk the overall Project timeline. In 2024, engineering work will be centered on metallurgical testing and value engineering activities.

Metallurgy

The PFS was robustly supported by an extensive metallurgical testwork program which included extensive bench and multiple pilot-scale testwork programs. The Company has now commenced the feasibility study (" FS ") metallurgical program, which is focused on refining select elements of the flowsheet while also completing the typical testwork elements required to support FS detailing.

The FS metallurgical program commenced with pilot-scale testing of the concentrator flowsheet to (a) refine select elements of the Baptiste concentrator flowsheet, and (b) produce sufficient awaruite concentrate to support larger-scale testwork of the downstream refinery flowsheet. The concentrator pilot-scale testwork program is nearing completion, and results along with the confirmed plan for refinery testwork for the production of battery-grade nickel sulphate will be presented in April 2024 . Both of these programs are being funded in part by a non-repayable grant from the federal government of Canada under the Critical Minerals Research, Development, and Demonstration (" CMRDD ") program.

Other elements of the FS testwork program in 2024 include the types of typical and routine testwork required to support FS detailing, including bulk material handling characterization, solid-liquid separation, comminution variability, briquetting, and flotation tailings leach optimization testwork. Additionally, the Company will evaluate the potential opportunities which were presented in the PFS, such as nickel sulphide flotation and upgrading of a potential iron ore concentrate. The FS testwork program is expected to run through to 2025, and material findings will be sequentially released when completed.

Value Engineering

Building on the technical and commercial viability demonstrated in the PFS, the Company has commenced a value engineering program which looks to further improve project value, and also provide suitable layout and execution certainty ahead of the EA process. To this effect, concurrent value engineering studies are focusing on optimization of the following areas: process plant design, overall site layout, carbon intensity, and linear infrastructure (access road and powerline).

The value engineering exercise has identified several potential improvements to the conceptual Project design; the Company will report the full results of the value engineering program in the second quarter of 2024. Technically and economically feasible alternatives that are identified through value engineering will be further evaluated through collaboration with Indigenous communities, as described above.

Feasibility Study Planning

The Company will also progress scoping and planning for the 2025 field season, which will focus on data collection to support the feasibility study, including geotechnical investigations, continued environmental baseline data collection, and resource drilling.

Andrew Osterloh , P.Eng., FPX's Senior Vice President, Projects & Operations, FPX's Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this news release.

About the Decar Nickel District

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 245 km 2 west of Middle River and north of Trembleur Lake, in central British Columbia . In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of the Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2024/05/c6824.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Appoints Market Maker

FPX Nickel Appoints Market Maker

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that it has retained PI Financial Corp. (" PI ") to provide market-making services in accordance with the TSX Venture Exchange (" TSX-V ") Policies.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

PI, an investment dealer located in Vancouver, British Columbia , will trade the securities of FPX on the TSX-V, adhering to regulatory exchange policies to maintain a reasonable, fair market and to enhance the liquidity of the Company's shares (" Market Making Services "). In consideration of the Market Making Services, the Company will pay PI a monthly fee of $5,000 for a minimum term of three months. After three months, the agreement with PI may be terminated by the Company at any time upon 30 days' written notice. FPX and PI are unrelated and unaffiliated entities. PI will not receive shares or options as compensation and the capital used for market-making will be provided by PI.

About the Decar Nickel District

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex.  FPX's mineral claims cover an area of 245 km 2 west of the Middle River and north of Trembleur Lake, in central British Columbia.  Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling.  Since 2010, approximately US $30 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project.  The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com.

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ materially from those currently projected by management at the time of writing due to many factors the majority of which are beyond the control of FPX and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: the duration of the Marketing Making Services and the frequency of any trades in connection with the Market Making Services. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company does not assumes the obligation to update any forward-looking statement except as expressly required by applicable securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2024/01/c5688.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Subsidiary CO2 Lock Corp. Achieves Successful Injection of CO2 at SAM Project in British Columbia

FPX Nickel Subsidiary CO2 Lock Corp. Achieves Successful Injection of CO2 at SAM Project in British Columbia

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on the activities of CO2 Lock Corp. (" CO2 Lock "), its majority-owned subsidiary specializing in carbon capture and storage (" CCS ") via permanent mineralization. CO2 Lock has completed a comprehensive field program at its SAM site in central British Columbia including the first-ever successful injection of CO 2 into a brucite-rich ultramafic mineral project. This achievement marks a significant milestone in the development of CO2 Lock's innovative in-situ CO 2 mineralization technology.

Highlights
  • Successful injection of CO 2 at depth, with downhole sensors verifying the desired CO 2 content throughout the carbonated water injection, bolstering confidence in the effectiveness of CO2 Lock's proprietary approach
  • Geological analysis confirms that the SAM deposit has promising mineralogy for CO 2 mineralization and permanent storage, with high values of brucite (key carbon-reactive mineral)
  • Extraction of multi-tonne surface bulk sample for use in an ex-situ CO 2 mineralization pilot at CO 2 Lock's laboratory in the Vancouver area

"The promising geological analysis and successful demonstration of the CO 2 injection into the SAM project highlight the significant potential of CO2 Lock's in-situ mineralization technology," commented Martin Turenne , FPX's President and CEO. "We look forward to seeing CO2 Lock's next steps in advancing its proprietary approaches to both in-situ and ex-situ carbon mineralization at its SAM project."

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Appoints Kim Baird to Board of Directors

FPX Nickel Appoints Kim Baird to Board of Directors

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointment of Kim Baird C.M., O.B.C., Hon LL.D. to the Board of Directors, effective immediately.  Ms. Baird is an accomplished leader and strategic advisor working with Indigenous communities, governments, businesses and other organizations. In her prior role as the elected Chief of the Tsawwassen First Nation, she negotiated and implemented British Columbia's first modern urban treaty, establishing for the Tsawwassen People ownership and governance over their land and resources.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

"We are honoured to welcome Kim to the FPX Board," commented the Company's Chairman, Peter Bradshaw . "Kim is a distinguished expert in Indigenous policy, governance, and economic development and is a highly-regarded advocate for Indigenous peoples. Kim brings expertise in major infrastructure projects and the associated opportunities for economic reconciliation and Indigenous participation in these projects. She will be a tremendous addition to the FPX team as we continue advance our flagship Baptiste Project."

Ms. Baird currently acts as the Chancellor of Kwantlen Polytechnic University and as the interim Chief Administrative Officer for the Tsawwassen First Nation. She previously served on the boards of BC Hydro and the Greater Vancouver Board of Trade, and currently serves as a director on several boards including the Canada Infrastructure Bank. She is a member of both the Order of Canada and the Order of British Columbia , and has been the recipient of several distinguished awards, including the British Columbia Reconciliation Award (2022) and the Queen Elizabeth Platinum Jubilee Award (2022).

The appointment of Ms. Baird is subject to receipt of approval from the TSX Venture Exchange and the Securities Regulatory Authorities.

Grant of Restricted Share Units

The Company has awarded an aggregate of 3,985,000 restricted share units (" RSUs ") under the Company's share compensation plan to officers, employees and non-executive directors. The RSUs will vest in three equal installments on the annual anniversaries and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

About the Decar Nickel District

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex.  FPX's mineral claims cover an area of 245 km 2 west of the Middle River and north of Trembleur Lake, in central British Columbia.  Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling.  Since 2010, approximately US $30 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project.  The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp.  is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron mineralization known as awaruite.  For more information, please view the Company's website at https://fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2024/07/c3331.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Announces Full Exercise of Participation Rights by the Company's Three Strategic Investors and Completion of Resultant Private Placement

FPX Nickel Announces Full Exercise of Participation Rights by the Company's Three Strategic Investors and Completion of Resultant Private Placement

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that in connection with the $14.4 million strategic investment by Sumitomo Metal Mining Canada Ltd. (" SMCL ") which closed on January 22, 2024 the Company's three strategic investors have fully exercised their participation rights to re-establish their respective initial ownership interest in FPX's issued and outstanding common shares (" Common Shares ").

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

In connection with the exercise of the participation rights, the Company has completed an additional private placement (" Private Placement ") through the issuance of a total of 8,981,971 Common Shares of the Company to the three strategic investors (the Corporate Strategic Investor, Outokumpu Oyj, and SMCL) at a price of $0.48 per Common Share, for gross proceeds of $4,311,346 .

On completion of the Private Placement, FPX has a cash position of approximately $45 million , which the Company estimates to be sufficient to fund its planned activities for 2024 and 2025. Details of the participation by each of the Company's three strategic investors are provided below.

Corporate Strategic Investor

On December 1, 2022 , FPX closed a private placement of Common Shares with a Corporate Strategic Investor which provided the Corporate Strategic Investor the right to participate in equity financings to maintain its 9.95% interest in the Company. In connection with the exercise of the participation right, the Company has issued 3,899,053 Common Shares to the Corporate Strategic Investor at a price of $0.48 per Common Share, for gross proceeds of $1,871,545 .

Outokumpu Oyj

On May 30, 2023 , FPX closed a private placement of Common Shares with the major stainless steel company Outokumpu Oyj (" Outokumpu ") which provided Outokumpu the right to participate in equity financings to maintain its 9.9% interest in the Company. In connection with the exercise of the participation right, the Company has issued 4,193,703 Common Shares to Outokumpu at a price of $0.48 per Common Share, for gross proceeds of $2,012,977 .

In accordance with the terms of an amended investor rights agreement (" IRA ") between Outokumpu and the Company, in the event Outokumpu reaches and maintains a minimum ownership of 15% or more of the issued and outstanding Common Shares of FPX on a non-diluted basis, Outokumpu will have the right to nominate one director to FPX's board of directors. Further, the amended IRA includes a covenant from Outokumpu to not vote against management's recommendations on ordinary matters to be approved by the shareholders of the Company, in each case subject to certain customary conditions and exceptions.

Sumitomo Metal Mining Canada Ltd.

On January 22, 2024 , FPX closed a private placement of Common Shares with SMCL which provided SMCL the right to participate in equity financings to maintain its 9.9% interest in the Company. In connection with the exercise of the participation right, the Company has issued 889,215 Common Shares to SMCL at a price of $0.48 per Common Share, for gross proceeds of $426,823 .

The Company intends to use the net proceeds of the Private Placement primarily for exploration and development ‎‎activities at its Baptiste Nickel‎ ‎Project, continuance of ‎‎ongoing environmental baseline activities, feasibility study readiness activities, and ‎‎general corporate and administrative purposes. The Common Shares issued pursuant to the Private Placement are subject to a hold period of four (4) months and one (1) day from the date of issuance in accordance with applicable securities laws.

In connection with the Private Placement, the Company has agreed to pay a cash advisory fee in the amount of ‎$17,073 (4% of the amount invested by SMCL) to RCI Capital Group Inc.

About the Decar Nickel District

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. FPX's mineral claims cover an area of 245 km 2 west of the Middle River and north of Trembleur Lake, in central British Columbia . Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling. Since 2010, approximately US $30 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project. The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

This news release may contain ‎"forward-looking information" within the meaning of applicable Canadian securities laws‎, including those describing FPX's future plans, and the expectations of management that a stated result or condition will occur. These statements address future events and conditions and so involve inherent risks and ‎uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ materially from those currently projected by management at the time of writing due to many factors the majority of which are beyond the control of FPX and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: the use of proceeds of the Private Placement; potential business synergies as a result of the strategic investors' additional investments in FPX; the nomination and appointment to FPX's board of directors of a nominee of Outokumpu; FPX's current cash position being sufficient to fund its planned activities for 2024 and 2025; and the advancement of exploration and development activities at the Decar Nickel District‎. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company assumes the obligation to update any forward-looking statement except as expressly required by applicable securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2024/01/c8383.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Grid Battery Exploration Team begins work on its Clayton Valley Lithium Project

Grid Battery Exploration Team begins work on its Clayton Valley Lithium Project

(TheNewswire)

Grid Battery Metals Inc..

Coquitlam, BC TheNewswire - March 28, 2024 - Grid Battery Metals Inc. (the "Company" or "Grid") (TSXV: CELL, OTCQB: EVKRF FRA: NMK2) is pleased announce that our 2024 Exploration Program has officially started on its Clayton Valley Lithium Project. The 2024 Exploration Program will begin with a Magnetotelluric (MT) geophysics survey performed by the KLM Geoscience ("KLM") as overseen by Grid's Qualified Professional, Mr. Steven McMillin P.G..

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Ramp Metals Provides Exploration Update and Announces Drilling Campaign

Ramp Metals Provides Exploration Update and Announces Drilling Campaign

Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to provide an update on the Company's exploration activities, including a drilling program at its flagship Rottenstone SW property.

Key Highlights

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
1844 Closes Non-Brokered Private Placement of Units

1844 Closes Non-Brokered Private Placement of Units

1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844"), is pleased to announce it has closed its previously announced non-brokered private placement of units (each, a "Unit"). At closing, the Company issued 14,117,500 Units at a price of $0.02 per Unit for aggregate gross proceeds of $282,350 (the "Unit Offering").

Each Unit is comprised of one common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.05 for a period of 36 months following closing of the Unit Offering.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Osisko Metals Grants Stock Options

Osisko Metals Grants Stock Options

Osisko Metals Incorporated (the " Company " or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) wishes to announce that the Company's Board of Directors have approved the grant of incentive stock options to directors, officers, employees and consultants to purchase up to an aggregate of 1,935,000 common shares in the capital stock of the Company. Grants are subject to a three-year vesting period and a five-year term at an exercise price of $0.155 per share.

About Osisko Metals

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
WESTERN COPPER AND GOLD ANNOUNCES METALLURGICAL PROGRAM AND ASSOCIATED DRILL RESULTS

WESTERN COPPER AND GOLD ANNOUNCES METALLURGICAL PROGRAM AND ASSOCIATED DRILL RESULTS

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) announces the launching of a metallurgical testing program (the "Metallurgical Program") for its wholly-owned Casino Copper-Gold Project (" Casino "). Fifteen composite samples were prepared from core acquired in 2023 (the "Drill Program"). Western's Technical and Sustainability Committee, comprised of members from Western, Rio Tinto Canada Inc. and Mitsubishi Materials Corporation, prepared the Drill and Metallurgical Programs.

Drill Program

The 2023 Drill Program consisted of seven holes for 2,244 m ranging from 130 m to 556 m in length. The drill holes were located inside the current pit boundaries and were selected to provide a range of grades, host rocks, and mineralogy for the Metallurgical Program (see Figure 1). The drill holes were also selected to convert indicated resource to measured.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Aston Bay and American West Metals Announce Geophysical Program Set to Begin at the Storm Copper Project, Canada

Aston Bay and American West Metals Announce Geophysical Program Set to Begin at the Storm Copper Project, Canada

Geophysical program designed to deliver a pipeline of priority drill targets for new copper discoveries

Aston Bay Holdings Ltd. (TSXV:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to provide details on the upcoming geophysical surveys and exploration program at the Storm Copper Project ("Storm" or the "Project") on Somerset Island, Nunavut. The program will be conducted by American West Metals Limited ("American West"), who is the operator of the Project. American West has completed the required expenditures to earn an undivided 80% interest in the Project. American West will be solely responsible for funding the program

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
FPX Nickel

FPX Nickel Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×