Power Nickel Closes Financing for $2,000,000
Summary
Mining Hall of Famer Rob McEwen Leads FinancingTORONTO, ON / ACCESSWIRE / October 24, 2023 / Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV:PNPN)(OTCQB:PNPNF)(Frankfurt:IVV) is pleased to announce it has closed the first tranche of the TORONTO, ON / ACCESSWIRE / October 24, 2023 / Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV:PNPN)(OTCQB:PNPNF)(Frankfurt:IVV) is pleased to announce it has closed the first tranche of the private placement previously announced on October 16, 2023 (the "Offering") for 4,000,000 flow-through units (each, an "FT Unit") of the Company, at a price of $0.50 per FT Unit, for gross proceeds of CAD $2,000,000. The Company has received conditional TSX Venture Exchange ("TSXV") approval for the Private Placement. It was a great vote of confidence to get a Mining Hall of Famer like Rob McEwen to make an initial investment in the Company. The funds will see us continue drilling into 2024 and is expected to enable us to report our inaugural NI-43-101 mineral resource on the NISK property in November. The Company anticipates closing the balance of the $2,750,000 Offering (as previously announced on October 16, 2023) with $750,000 of Non-Flow Through units before month end.
Funding
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