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Tartisan Nickel Corp. (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA) ("Tartisan", or the "Company") is pleased to announce that the Company has concluded its normal course issuer bid ("NCIB"), under which the Company purchased a total of 4,869,300 of the Company's common shares, which represented approximately 4.64 % of the issued and outstanding common shares of the Company.
Tartisan commenced the "NCIB" because it believed that the underlying value of the Kenbridge Nickel Project, along with the Company's portfolio holdings, are not adequately reflected in the market price of its common shares. Tartisan Nickel Corp. believed that the repurchase of its common shares for cancellation represented an appropriate use of the Company's financial resources and should enhance shareholder value in the long run.
The "NCIB" was initially announced on March 10, 2021 (SEDAR) and commenced on March 17, 2021. The "NCIB" expired/terminated on March 17, 2022. All common shares purchased under the "NCIB" were purchased on the open market through the facilities of the Canadian Securities Exchange (the "CSE") and/or alternative trading systems. All purchases under the "NCIB" were made at the prevailing market price for the common shares at the time of purchase, and in total were at a combined average of price of approximately $0.41 cents per common share. Common shares acquired by the Company under the "NCIB" have all been cancelled. Tartisan Nickel Corp. had appointed Independent Trading Group (ITG) Limited as its broker to conduct the "NCIB" purchases on its behalf. There are currently 108,922,503 common shares issued and outstanding.
About Tartisan Nickel Corp.
Tartisan Nickel Corp. is a Canadian based mineral exploration and development company whose flagship asset is the Kenbridge Nickel Deposit located in the Kenora Mining District, Ontario. Tartisan also owns; the Sill Lake Silver Property in Sault St. Marie, Ontario as well as the Don Pancho Manganese-Zinc-Lead-Silver Project in Peru.
Tartisan Nickel Corp. owns an equity stake in; Eloro Resources Limited, Class 1 Nickel and Technologies Limited, Peruvian Metals Corp., New Break Resources Ltd., and Silver Bullet Mines Inc.
Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA). Currently, there are 108,922,503 shares outstanding (120,218,018 fully diluted).
Dean MacEachern P. Geo. is the Qualified Person under NI 43-101 and has read and approved the technical content of this News Release.
For further information, please contact Mark Appleby, President & CEO, and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117701
