Business
CVMR Investment to Fund Feasibility Program at Power Nickel Nisk Project
TORONTO, ON / ACCESSWIRE / August 15, 2023 / Power Nickel Inc. (the " Company " or " Power Nicke...
About this update from Power Metallic Mines Inc.
[{"type":"text","content":"CVMR Investment to Fund Feasibility Program at Power Nickel Nisk ProjectTORONTO, ON / ACCESSWIRE / August 15, 2023 / Power Nickel Inc. (the \"Company\" or \"Power Nickel\") (TSXV:PNPN)(OTCQB:CMETF)(Frankfurt:IVV) Power Nickel is pleased to enter into an agreement with CVMR Corporation, one of the world's leaders in Nickel Powder, Wire and Anode production and a key supplier to the Battery, Defence and Aerospace industry. CVMR will coordinate the production of advanced bench scale, piloting and engineering studies on the Nisk Nickel Sulfide project near Nemaska Quebec to determine project feasibility. The agreement is staged, allowing for Power Nickel and CVMR to work together on various stages of engineering studies.CVMR® is a privately held, metal refining technology provider that is also engaged in mining and refining of its own mineral resources in 18 different countries. The company was established in 1986, with its head office and R & D Centre in Toronto, Canada.CVMR® is one of the world leader in metal powder production used in 3D printing, Metal Injection Molding (MIM), super alloys, complex net shapes, electronics, rechargeable batteries, manufacture of aerospace and automotive parts, medical instruments, pharmaceuticals and dietary supplements.In order to ensure this process was done in the least dilutive way possible Power Nickel has arranged to have WCPD Group organize a consortium of Quebec based investors who will make an initial investment of $2.25 million representing 4,500,000 Flow Through shares at $0.50 per share. Wealth (WCPD Inc.) is one of the leading exempt market dealer offering efficient financing for Canadian resource and mineral exploration. As part of the process CVMR will acquire these shares from the front-end purchasers for $0.25 per share.\"It's been a creative collaboration working with CVMR on structuring this deal. Given their access to internal facilities and staff that is far less expensive than how we could expect to acquire this analysis from traditional suppliers. It also can be done much quicker than normal and will expedite our plans to commercialize Nisk as rapidly as humanly possible. The world needs a lot more Class 1 Nickel if we are to hit our Climate goals.1 Miners and processors must think and act creatively working with our government and native partners on ways to d...