Base Metals

Power Nickel Inc. (the "Company" or "Power Nickel") (TSX-V:PNPN)(OTC PINK:CMETF)(FRA:IVVI) is pleased to announce a proposed non-brokered private placement (the "Private Placement") of up to 10,000,000 flow-through units (each, an "FT Unit") of the Company at a price of $0.20 per FT Unit and up to 10,000,000 non-flow-through units (each, an "NFT Unit") of the Company at a price $0.10 per NFT Unit, for aggregate gross proceeds of up to CAD $3,000,000

Each FT Unit will be composed of one common share of the Company that qualifies as a "flow-through share" (each, a "FT Share"), for purposes of the Income Tax Act (Canada) (the "ITA"), and one non-flow-through common share purchase warrant (each, a "Warrant"). Each Warrant will be exercisable into one non-flow-through common share (each, a "Common Share") at exercise price of $0.20 per Warrant for a period of five years from the date of issuance. Each NFT Unit will be composed of one Common Share and one Warrant. All securities issued under the Private Placement will be subject to a four-month and one-day statutory hold period.

The Warrants will be subject to an acceleration clause which entitles the Company to provide notice (the "Acceleration Notice") to holders that the Warrants will expire 30 days from the date the Company provides the Acceleration Notice. The Company can only provide the Acceleration Notice if the closing price of the Company's Common Shares on the TSX Venture Exchange is equal to or greater than $0.40 for 10 consecutive trading days. The Acceleration Notice can be provided at any time after the statutory hold period and before the expiry date of the Warrants.

The Company intends to use the gross proceeds from sale of the FT Shares to incur eligible "Canadian exploration expenses", within the meaning of the ITA, that will qualify for the federal 30% Critical Mineral Exploration Tax Credit pursuant to the draft legislation released on August 9, 2022. The Company intends to use approximately $800,000 of the proceeds from the sale of the NFT Units to settle an outstanding debture. The Company intends to use the remainder of the proceeds from the sale of the NFT Units for general administrative and working capital purposes.

The Private Placement is subject to TSX Venture Exchange approval.

For further information on Power Nickel Inc., please contact:

Mr. Terry Lynch, CEO
(647) 448-8044
terry@powernickel.com

For further information, readers are encouraged to contact:

Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON

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 or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain statements that may be deemed "forward-looking statements" with respect to 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, the Company's ability to raise sufficient capital to fund its planned activities at the NISK Property and for general working capital purposes; the timing for proposed closing of the Private Placement; the timing and costs of future activities on the Company's properties, including preparing the Amended Technical Report; maintaining its mineral tenures and concessions in good standing; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of 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 obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects; 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. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: Power Nickel Inc.



View source version on accesswire.com:
https://www.accesswire.com/720789/Power-Nickel-Announces-C3-Million-Non-Brokered-Private-Placement

News Provided by ACCESSWIRE via QuoteMedia

PNPN:CA
Power Nickel

Power Nickel


Keep reading...Show less
Power Nickel Increases Previously Announced Non-Brokered Private Placement by C$300,000

Power Nickel Increases Previously Announced Non-Brokered Private Placement by C$300,000

Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV:PNPN, OTCQB:CMETF, Frankfurt:IVVI) is pleased to announce it has increased the size of its non-brokered private placement (the "Private Placement") originally announced in its news release dated October 18, 2022 (the "Original News Release") by CAD $300,000. The Private Placement will now consist of up to 10,250,000 flow-through units (each, an "FT Unit") of the Company (up from 10,000,000 FT Units) at a price of $0.20 per FT Unit and up to 12,500,000 non-flow-through units (each, an "NFT Unit") of the Company (up from 10,000,000 NFT Units) at a price $0.10 per NFT Unit, for aggregate gross proceeds of up to CAD $3,300,000. The prices of each FT Unit and each NFT Unit are unchanged from the prices set out in the Original News Release. The other terms of the FT Units and NFT Units are also unchanged from the terms set out in the Original News Release. These terms have been provided below for ease of reference

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Power Nickel To Amend Technical Report

Power Nickel To Amend Technical Report

Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV:PNPN)(OTCQB:CMETF)(Frankfurt:IVVI) announces that, as a result of a review by the staff of the British Columbia Securities Commission ("BCSC"), the Company is issuing the following news release to clarify disclosures regarding its Technical Report on the Nisk Project previously filed on SEDAR on August 30, 2022

The Company's technical report titled "NI 43-101 Technical Report and Mineral Resource Estimate for the Nisk Project, Eeyou Istchee James Bay territory, Quebec" (the "Technical Report") does not comply with certain technical requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Products ("NI 43-101"). The Company's mineral resource estimates provided in the Technical Report do not comply with NI 43-101 and such mineral resource estimates, as disclosed in the Technical Report and Power Nickel's related news releases since July 19, 2022, may not be relied upon, until they are supported with a compliant report.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Power Nickel Follows Up Release of NI 43-101 Compliant Mineral Resource Estimate on the Nisk Nickel Project With Commencement of Second Round of Drilling

Power Nickel Follows Up Release of NI 43-101 Compliant Mineral Resource Estimate on the Nisk Nickel Project With Commencement of Second Round of Drilling

Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV:PNPN)(OTCQB:CMETF)(Frankfurt:IVVI) is pleased to follow up on the recent release of the NI 43-101 Technical Report and Mineral Resource Estimate ("MRE") on the "Nisk" Nickel project with the commencement of the second round of drilling. The NI 43-101 Technical Report and Mineral Resources Estimate for the Nisk Project was filed on SEDAR on August 30, 2022

The Nisk Project is located in the southern portion of the Eeyo Istchee James Bay territory, Québec, a region that is the site of a number of mining projects (Figure 1) and improving infrastructure (Figure 2).[1]

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Power Nickel to Present at the Emerging Growth Conference on Wednesday, May 25, 2022

Power Nickel to Present at the Emerging Growth Conference on Wednesday, May 25, 2022

Power Nickel Invites Individual and Institutional Investors As Well as Advisors and Analysts, To Attend Its Real-Time, Interactive Presentation at the Emerging Growth Conference

Power Nickel Inc. (the "Company") (TSXV:PNPN)(OTCQB:CMETF)(FRA:IVVI) is pleased to announce that it has been invited to present at the Emerging Growth Conference on Wednesday, May 25, 2022

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CEO Presenting on the Emerging Growth Conference on May 25 Register Now

CEO Presenting on the Emerging Growth Conference on May 25 Register Now

EmergingGrowth.com a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth Companies and Markets announces the Schedule of the 31 st Emerging Growth Conference.

The Emerging Growth Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Court Date Has Been Scheduled for Aznalcóllar Criminal Trial

Court Date Has Been Scheduled for Aznalcóllar Criminal Trial

Emerita Resources Corp. (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") announces that the Third Section of the Provincial Court of Seville (the "Court") has set March 3, 2025 as the date for the criminal trial on the alleged crimes committed during the process of awarding the Aznalcóllar tender. The trial is an oral hearing that is expected to be completed on July 15, 2025.

The Court has reserved up to 40 sessions including days in March, April, May, June and July 2025. The oral trial has been scheduled at 10:00 AM (local Seville time) on the following days:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
1844 Announces Clarification to Press Release Issued November 23, 2022

1844 Announces Clarification to Press Release Issued November 23, 2022

1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") announces a clarification to its press release entitled "Completes Public Offering of Common Shares" issued on November 23, 2022 (the "Initial Press Release").

The Initial Press Release used the phrase "syndicate of selling brokers". For clarification, Leede Jones Gable Inc. was the sole agent and book runner for the offering, and there were no member firms that formed a syndicate. This clarification does not change any other information reported in the Initial Press Release.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
1844 Completes Public Offering of Common Shares

1844 Completes Public Offering of Common Shares

1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") is pleased to announce that it has closed its previously announced best efforts public offering of 10,164,000 common shares in the capital of the Company (the "Common Shares") at a price of $0.05 per Common Share for aggregate gross proceeds of $508,200 (the "Offering"). For further details on the Offering, see the Company's news release dated July 21, 2022.

The Offering was conducted by Leede Jones Gable Inc. (the "Lead Agent") and included a syndicate of selling brokers, including Raymond James Ltd., Richardson Wealth, Echelon Wealth Partners Inc. and Equity Capital Markets Compensation Securities (collectively with the Lead Agent, the "Agents"). On closing of the Offering (the "Closing"), the Company issued to the Agents an aggregate of 813,120 non-transferable compensation options (the "Agent's Options"), with each Agent's Option entitling the holder to purchase one Common Share at a price of $0.05 per Common Share for 36 months from the date of issuance. In connection with the Offering, the Company also paid to the Agents a cash commission of $40,565, being 8.0% of the gross proceeds of the Offering, and a corporate finance fee of $25,000.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
WESTERN COPPER AND GOLD ANNOUNCES EXTENSION OF RIO TINTO'S RIGHTS

WESTERN COPPER AND GOLD ANNOUNCES EXTENSION OF RIO TINTO'S RIGHTS

Rights associated with the Investor Rights Agreement have been Extended

Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN); (NYSE American: WRN) announces that Rio Tinto Canada Inc. ("Rio Tinto") has exercised its right to extend certain rights under the investor rights agreement (the "Agreement") between the Company and Rio Tinto dated May 28, 2021 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Fabled Copper Announces Results of Annual General Meeting

Fabled Copper Announces Results of Annual General Meeting

Fabled Copper Corp. ("Fabled Copper" or the "Company") (CSE:FABL)(FSE:XZ7) announces that all proposed resolutions were approved at the Company's Annual General Meeting of Shareholders held on October 27, 2022

Shareholders voted in favor of all the resolutions proposed by the Board of Directors and management of the Company. A total of 23,250,379 common shares were voted, representing 13.39% of total shares issued and outstanding as of the record date.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Renforth Raises an Oversubscribed Total of $1,558,100

Renforth Raises an Oversubscribed Total of $1,558,100

(TheNewswire)

Renforth Resources Inc.

November 23, 2022 TheNewswire - Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") announces that the previously announced private placement has closed oversubscribed, with a total of $1,558,100 gross funds raised in a combination of flow through and non-flow through funds. The Company has closed the final tranches of the previously announced non-brokered private placement for additional gross proceeds of C$869,300 from the sale of 580,000 non-flow through units of the Company at a price of C$0.035 per unit and 21,225,000 flow-through units of the Company at a price of C$0.04 per flow-through unit. Each non-flow through unit consisted of one common share of the Company and one common share purchase warrant. Each flow through unit consisted of one common share to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one half of one warrant. Each whole warrant entitles the holder to purchase one common share at a price of C$0.06 for a period of 24 months following the distribution date. In connection to this tranche of the financing, the company paid a cash commission of $44,850 and issued 1,207,000 finders warrants. The finders warrants are exercisable at a price of C$0.06 for a period of 24 months.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×