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Power Nickel closes final tranche of financing and releases results of the first hole of the current campaign
Power Nickel closes final tranche of financing and releases results of the first hole of the curr...
About this update from Power Metallic Mines Inc.
[{"type":"text","content":"\n \n \n \n Power Nickel closes final tranche of financing and releases results of the first hole of the current campaign\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 0.57%Ni, 0.81% Cu, 0.03% Co along with 0.81 ppm Pd and 0.33 ppm Pt Over\n \n 19.5M\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Nov. 14, 2023\n \n \n /CNW/ -\n \n Power Nickel Inc\n \n .\n \n (the \"Company\" or \"Power Nickel\")\n \n (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce it has closed the previously announced private placement of non-flow-through units (\"Units\") at a price of\n \n $0.25\n \n per Unit (the \"Offering\"). In connection with closing the Offering, the Company issued an aggregate of 2,820,000 Units for gross proceeds of\n \n $705,000\n \n . Each Unit is comprised of one common share of the Company and one-half of one share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant is exercisable to acquire one common share of the Company at a price of\n \n $0.50\n \n per share for a period of three years from the date of issuance (subject to acceleration, as described below).\n \n \n At any time starting four months and one day from the date of issuance of the Warrants, the expiry date of the Warrants can be accelerated at the election of the Company if the closing price of the common shares of the Company on the TSX Venture Exchange is equal or greater than\n \n $1.00\n \n for ten consecutive trading days. If the Company elects to accelerate the expiry date of the Warrants, the Company will provide notice to the holders of the Warrants, following which the Warrants will expire if not exercised within 30 days from the date of the notice.\n \n \n All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day.\n \n \n \n Assay Results\n \n \n \n Power Nickel is pleased to release the assay results for the step out hole testing the Nisk Main Deposit 300 metres to the south and east of previous drilling. The overall\n...