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FPX Nickel Announces $12 Million Equity Investment From New Corporate Strategic Investor
FPX Nickel Announces $12 Million Equity Investment From New Corporate Strategic Investor ...
About this update from Fpx Nickel Corp
[{"type":"text","content":"\n \n \n \n FPX Nickel Announces $12 Million Equity Investment From New Corporate Strategic Investor\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 29, 2022\n \n \n /CNW/ - FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (\"\n \n FPX\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has entered into a subscription agreement for a private placement financing (the \"\n \n Private Placement\n \n \") with a new corporate strategic investor (the \"\n \n Strategic Investor\n \n \").\n \n \n \n \n \n \n \n \n \n Under the terms of the Private Placement, FPX will issue 24,000,000 common shares (\"\n \n Common Shares\n \n \") in the capital of the Company to the Strategic Investor at a price of\n \n $0.50\n \n per Common Share, for gross proceeds of\n \n $12 million\n \n . Upon completion of the Private Placement, the Strategic Investor will own approximately 9.95% of FPX's issued and outstanding Common Shares on a non-diluted basis.\n \n \n \"This is a transformational investment for FPX, providing important support for the continued development of our large-scale, low-cost, and low-carbon Baptiste Nickel Project (the \"\n \n Project\n \n \") in central\n \n British Columbia\n \n ,\" commented\n \n Martin Turenne\n \n , FPX's President and CEO. \"Prior to making the investment, the Strategic Investor conducted multi-functional technical reviews and a Project site visit, and we believe the Private Placement represents a significant endorsement of the Project and our approach to project development. On closing of the Private Placement, the Company will have a working capital position of approximately\n \n $18.5 million\n \n , which will permit the Company to fully fund the completion of a preliminary feasibility study in the second half of 2023 and fund subsequent project d...