Battery Metals


FPX Nickel Corp. (FPX-TSX.V) (" FPX Nickel " or the " Company ") is pleased to announce that it has arranged a non-brokered private placement to raise gross proceeds of up to $3,200,000 (the " Offering "). The Offering will consist of up to 5,818,181 common shares (the " Shares ") at $0.55 per Share in the capital stock of the Company.

The proceeds raised from the Offering will be used for the advancement of the Company's flagship Decar Nickel District in central British Columbia, including drilling at the Baptiste Deposit, a maiden drilling program at the Van Target, metallurgical and market testing of nickel products for the stainless steel and electric vehicle battery markets, and for general working capital purposes.

Concurrent with the Offering, the Company intends to convert the full amount of principal and interest owing on the long-term loan provided to the Company by its Chairman Peter Bradshaw (the " Bradshaw Loan " ), totalling approximately $4,262,521, into 7,750,037 common shares of the Company at a price of C$0.55 per share (the "Debt Conversion" ). The terms of the Bradshaw Loan are described in the Company's news release dated September 4, 2019. On completion of the Debt Conversion, the Bradshaw Loan will be extinguished.

All the securities issued pursuant to the Offering and Debt Conversion will be subject to a four (4) month hold period. Completion of the Offering and Debt Conversion is subject to receipt of all required regulatory and other approvals, including acceptance by the TSX Venture Exchange. The Company may pay finders' fees on a portion of the Offering, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation.

The Debt Conversion constitutes a "related party transaction" under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 ") as Peter Bradshaw is a related party of FPX Nickel given his role as Company Chairman and his greater than 10% beneficial shareholding in the Company. Pursuant to Section 5.5(a) and 5.7(1)(a) of MI 61-101, the Company is exempt from obtaining a formal valuation and minority approval of the Company's shareholders in respect of the Debt Conversion due to the fair market value of the Debt Conversion being below 25% of the Company's market capitalization.

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 or contact Martin Turenne, President and CEO, at (604) 681-8600 or at .

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 Regul ation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Primary Logo

News Provided by GlobeNewswire via QuoteMedia


FPX Nickel

Keep reading...Show less
Avalon Advanced Materials Inc.

Avalon Advanced Materials Inc.

Avalon Advanced Materials Inc is a mineral exploration and development company. It operates primarily in Canada with a focus on rare metals and minerals, including lithium, tantalum, niobium, cesium, indium, gallium, germanium, rare earth elements, yttrium, and zirconium. The company is currently focusing on its Nechalacho Rare Earth Elements Project at Thor Lake, Separation Rapids Lithium Project near Kenora, Ontario, and its East Kemptville Tin-Indium Project in Yarmouth, Nova Scotia.

Freegold Ventures Limited

Freegold Ventures Ltd is an exploration stage company. It is engaged in the process of acquiring, exploring and developing precious and base metal properties. The company's projects include Golden Summit and the Shorty Creek in Alaska.

Cordoba Minerals Corp.

Cordoba Minerals Corp.

Cordoba Minerals Corp is an exploration and development company. The principal business of the company is the acquisition, exploration, and development of precious and base metal properties. It is focused on projects located in Colombia and the United States. The geographical segments of the group are Canada, Colombia and the United States.

GoldQuest Mining Corp.

GoldQuest Mining Corp.

GoldQuest Mining Corp is a Canadian-based mineral exploration and development company with projects in the Dominican Republic. Its projects include Romero Project, Tireo Project, and Others.

Cobalt Reserves: Top 3 Countries (Updated 2022)

Cobalt Reserves: Top 3 Countries (Updated 2022)

Cobalt has gained considerable market attention over the past couple of years. Even though prices are volatile, more and more investors are showing interest in cobalt.

The battery metal, combined with other key raw materials, is an essential component of lithium-ion batteries, which are used to power electric vehicles (EVs).

Despite possible battery chemistry changes and the potential for disruptive new battery technologies, demand for cobalt is expected to rise, and market watchers are keen to find out where it may be mined in the future. That’s why it’s important to review cobalt reserves, which is how much economically mineable cobalt a country holds.

Keep reading...Show less

Sherritt Provides Notice of Second Quarter 2022 Results Conference Call and Webcast


Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) will release its second quarter 2022 financial results after market close on July 27, 2022. Senior management will host a conference call and webcast on July 28, 2022 at 10:00 am ET to review Sherritt's second quarter 2022 financial and operational performance.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News