FPX Nickel Announces $16 Million Strategic Equity Investment from Major Global Stainless Steel Producer Outokumpu

About this update from Fpx Nickel Corp

[{"type":"text","content":"\n \n \n \n FPX Nickel Announces $16 Million Strategic Equity Investment from Major Global Stainless Steel Producer Outokumpu\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 30, 2023\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 closed a private placement financing (the \"\n \n Private Placement\n \n \") with a new cornerstone strategic investor, the major global stainless steel producer Outokumpu Oyj (\"\n \n Outokumpu\n \n \").\n \n \n \n \n \n \n \n \n \n Under the terms of the Private Placement, FPX has issued 26,800,000 common shares (\"\n \n Private Placement\n \n \n Common Shares\n \n \") in the capital of the Company to Outokumpu at a price of\n \n C$0.60\n \n per common share, for gross proceeds of\n \n C$16,080,000\n \n .  Upon completion of the Private Placement, Outokumpu now owns approximately 9.9% of FPX's issued and outstanding common shares on a non-diluted basis.\n \n \n \"This strategic investment by Outokumpu represents a significant technical validation of FPX's Baptiste Nickel Project (\"\n \n Baptiste\n \n \" or the \"\n \n Project\n \n \"), and underscores\n \n Canada's\n \n critical role as a supplier of choice to allied industrial partners in\n \n Europe\n \n and\n \n the United States\n \n ,\" commented\n \n Martin Turenne\n \n , FPX's President and CEO. \"Outokumpu is a large and highly-regarded global operator, with a robust track record of producing the world's most sustainable stainless steel, and is a significant nickel consumer.\n \n \n \"Our partnership with Outokumpu testifies to Baptiste's potential to produce a premium nickel product that can bypass the intermediate smelting stage, thus becoming a highly sought-after feedstock for the responsible production of low-carbon finished products in multiple consumer and industrial markets, including stainless steel.  FPX is pleased to be Outokumpu's preferred partner as they look to secure the s...

More updates from Fpx Nickel Corp