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Flying Nickel Closes Oversubscribed Private Placement for Gross Proceeds of $859,200 and Provides Update on the Plan of Arrangement
Vancouver, British Columbia--(Newsfile Corp. - February 16, 2023) - Flying Nickel Mining Corp. &...
About this update from Cleantech Vanadium Mining Corp
[{"type":"text","content":"Flying Nickel Closes Oversubscribed Private Placement for Gross Proceeds of $859,200 and Provides Update on the Plan of ArrangementVancouver, British Columbia--(Newsfile Corp. - February 16, 2023) - Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) (\"Flying Nickel\" or the \"Company\") announces that, further to its news releases dated January 26, 2023, it has closed (the \"Closing\") the previously announced private placement offering (the \"Offering\").Pursuant to the Closing, the Company issued an aggregate of 5,370,000 Units for aggregate gross proceeds of $859,200. Each Unit consists of one common share of the Company and one share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.20 per share for 36 months from Closing (the \"Units\").The Company also announces that Sparta AG and Blackstone Minerals Limited have participated in the Offering , and each has become a shareholder owning more than 5% of common shares of the Company.In connection with the Closing, the Company issued 332,150 Units as Finders' Fees. Each Finder's Unit will consist of one common share of the Company and one non-transferable share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.20 per share for 3 years.The securities issued as part of the Offering will be subject to a 4-month hold period.Proceeds of the Offering are expected to be used for the 7,081-meter (from 97 drill holes) Minago PGM assay program, and general corporate purposes.Flying Nickel and Nevada Vanadium Mining Corp. (\"Nevada Vanadium\") also announce that further to their joint press releases dated October 5, 2022 and August 23, 2022, Flying Nickel and Nevada Vanadium continue to work diligently with their respective advisors towards completion of the proposed acquisition of all of the issued and outstanding common shares of Nevada Vanadium by Flying Nickel by way of a court-approved plan of arrangement (the \"Transaction\"). Flying Nickel and Nevada Vanadium expect to update the closing schedule in March 2023.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....