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Flying Nickel Announces Additional Private Placement Subscription by Norway House Cree Nation for $600,705
Vancouver, British Columbia--(Newsfile Corp. - August 28, 2023) - Flying Nickel Mining Corp. (...
About this update from Cleantech Vanadium Mining Corp
[{"type":"text","content":"Flying Nickel Announces Additional Private Placement Subscription by Norway House Cree Nation for $600,705Vancouver, British Columbia--(Newsfile Corp. - August 28, 2023) - Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) (\"Flying Nickel\" or the \"Company\") is pleased to announce that it proposes to undertake a non-brokered private placement offering (the \"Offering\") of 7,603,862 common shares of the Company at a price of $0.079 per share raising gross proceeds of $600,705. Norway House Cree Nation (\"NHCN\"), the Company's strategic partner, will be the sole subscriber. The Company's flagship Minago nickel project is in NHCN's exclusive traditional territory.As a result of the Offering, NHCN will own approximately 18.1% of Flying Nickel's common shares. NHCN is entitled to purchase additional Flying Nickel common shares to maintain its equity ownership interest percentage in Flying Nickel immediately prior to any future dilution event pursuant to the March 2023 Impact and Benefit Agreement between the Company and NHCN. \"NHCN's investment in Flying Nickel strengthens and expands our symbiotic relationship. Minago project-related opportunities will benefit current and future generations of NHCN,\" comments John Lee, CEO of Flying Nickel.No finders fees are payable in connection with the Offering. The securities issued as part of the Offering will be subject to a 4-month hold period.Proceeds of the Offering will be used for exploration and general working capital purposes.The private placement is subject to approval of the TSX Venture Exchange.About Flying NickelFlying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company. The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.Further information on the Company can be found at www.flynickel.com.FLYING NICKEL MINING CORP.ON BEHALF OF THE BOARDJohn LeeChief Executive OfficerFor more information about the Company, please contact:Phone: Phone: 1.877.664.2535 / 1.877.6NICKELEmail: [email protected] TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Cautionary Note Regarding Forward-Looking StatementsCertain statements contained i...