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Power Nickel Raises $2,180,000, Outlines 2024 Plans
Power Nickel Raises $2,180,000, Outlines 2024 Plans Canada NewsWire Second Ri...
About this update from Power Metallic Mines Inc.
[{"type":"text","content":"\n \n \n \n Power Nickel Raises $2,180,000, Outlines 2024 Plans\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 Second Rig to Be added to Nisk Exploration Program\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Jan. 9, 2024\n \n \n /CNW/ - Power Nickel Inc. (the \"\n \n Company\n \n \" or \"\n \n Power Nickel\n \n \") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce it has closed a private placement for 4,360,000 flow-through units (each an \"\n \n FT Unit\n \n \") of the Company, at a price of\n \n $0.50\n \n per FT Unit, for gross proceeds of CAD\n \n $2,180,000\n \n . The FT Unit closing completed on\n \n December 29, 2023\n \n , while the balance of the back-end adjustments completed last week. The Company has received conditional TSX Venture Exchange (\"\n \n TSXV\n \n \") approval for this Private Placement.\n \n \n \"We are pleased to close this financing to enable us to expand our exploration programs at Nisk. We will be bringing in a second drilling rig to focus on drilling the multiple new Pods identified by our use of the Fleet Space Technologies Ambient Noise Tomography technology previously reported. The 2024 drilling plans section, set out below, provides additional detail regarding this exciting development,\" said Power Nickel CEO\n \n Terry Lynch\n \n .\n \n \n Each FT Unit is comprised of one common share of the Company that qualifies as a \"flow-through share\" (each, an \"\n \n FT Share\n \n \") for purposes of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"\n \n ITA\n \n \"), and one-half of one transferable non-flow-through common share purchase warrant (each whole, being a \"\n \n Warrant\n \n \"). Each Warrant is exercisable into one non-flow-through common share (each a \"\n \n Warrant Share\n \n \") at an exercise price of\n \n $0.50\n \n per Warrant Share for three years from the date of issuance. All securities issued under the Private Placement are subject to a four-month and one-day statutory hold period. The Warrants are subject to an accel...