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Flying Nickel Provides Update on Acquisition of Nevada Vanadium
Vancouver, British Columbia--(Newsfile Corp. - June 28, 2024) - Flying Nickel Mining Corp. (TSXV...
About this update from Cleantech Vanadium Mining Corp
[{"type":"text","content":"Flying Nickel Provides Update on Acquisition of Nevada VanadiumVancouver, British Columbia--(Newsfile Corp. - June 28, 2024) - Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) (\"Flying Nickel\" or the \"Company\") announces that further to its joint press releases with Nevada Vanadium Mining Corp. (\"Nevada Vanadium\") dated August 23, 2022, and October 7, 2022, the proposed acquisition of all the issued and outstanding common shares of Nevada Vanadium by Flying Nickel by way of a court-approved plan of arrangement (the \"Transaction\" or the \"Arrangement\") continues to progress. An Annual General and Special Meeting of Shareholders of both companies to vote on the Transaction has been set for July 10, 2024. Further details are available in the Joint Management Information Circular dated May 24, 2024 of Flying Nickel and Nevada Vanadium (the \"Circular\"), available on www.sedarplus.ca. The Transaction was delayed primarily due to staff turnover at the end of 2022, a change in auditors during December 2022, and also a change in fiscal year end from December 31 to March 31 effective for the 15 months ended March 31, 2023. The Company also filed an amended technical report on www.sedarplus.ca for Nevada Vanadium's Gibellini Project with an effective date of September 27, 2023, on October 10, 2023. The amendments were principally to re-address the technical report to Flying Nickel. Subsequently, an additional amended technical report was filed on www.sedarplus.ca on February 13, 2024. The additional amendments were primarily to provide: 1) information on work performed on the project and visits by the report author to the site, 2) clarifications on the evaluation of the vanadium price used in the report, 3) a figure showing the project mining claims location relative to each other, nearby towns and infrastructure, 4) relocation of the list of mining claims from the body of the report to an appendix, 5) a statement clarifying that Flying Nickel has not done any exploration or drilling on the Gibellini Project, and 6) a multi-phase budget to complete all the recommended Project development work (geologic, drilling, metallurgical and pre-feasibility study) included in the technical report.In making its recommendations to acquire Nevada Vanadium, the Company's board of directors (the \"Flying Nickel Board\") considered a numbe...