FPX Nickel Closes On $12 Million From Undisclosed Strategic Investor

The demand for nickel among investors continues to rise, with FPX Nickel (TSXV: FPX) this morning indicating it has obtained a new corporate strategic investor.

The firm indicated that it managed to raise gross proceeds of $12.0 million from the new investor. Proceeds were raised via the issuance of 24.0 million common shares at a price of $0.50 per each. Post financing, the investor is said to hold a 9.95% stake in the company on a non-diluted basis.

Proceeds from the financing are to be used for the completion of a preliminary feasibility study and the continuance of environmental baseline activities at the firms Decar Nickel District. Funds will also be used for general corporate purposes.

FPX Nickel currently is focused on the Decar Nickel District, where it has claims covering 245 square kilometres northwest of Fort St James in British Columbia. The project currently has indicated resources of 3.8 million tonnes of nickel at a grade of 0.211%, and inferred resources of 720,000 tonnes of nickel at a grade of 0.212% at the Baptiste deposit.

“”Prior to making the investment, the Strategic Investor conducted multi-functional technical reviews and a Project site visit, and we believe the Private Placement represents a significant endorsement of the Project and our approach to project development. On closing of the Private Placement, the Company will have a working capital position of approximately $18.5 million, which will permit the Company to fully fund the completion of a preliminary feasibility study in the second half of 2023 and fund subsequent project development activities well into 2024,” said CEO Martin Turenne on the financing.

Details on the strategic investor were not released.

FPX Nickel last traded at $0.465 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

FPX Nickel Launches Scoping Study For BC-Based Nickel Sulphate Refinery

FPX Nickel (TSXV: FPX) is examining the feasibility of developing a nickel sulphate refinery, which...

Monday, September 16, 2024, 08:33:13 AM

FPX Nickel: The Baptiste Project & Recent Strategic Partnerships – With Martin Turenne

Martin Turenne, CEO of FPX Nickel Corp (TSXV: FPX) joins us today on the Daily...

Wednesday, October 18, 2023, 01:36:41 PM

FPX Nickel Enters MOU With Toyota Joint Venture For Use Of Nickel In Battery Supply Chain

FPX Nickel (TSXV: FPX) is potentially entering the battery supply chain, following a non-binding memorandum...

Friday, September 22, 2023, 08:48:33 AM

FPX Nickel Releases Economic Impact Study Estimating $45 Billion GDP Contribution From Baptiste Project

FPX Nickel (TSXV: FPX) has released the findings of an economic impact study for its...

Monday, January 13, 2025, 07:55:33 AM

FPX Nickel Sees Strategic Investors Re-Up Ownership For $4.3 Million In Proceeds

FPX Nickel (TSXV: FPX) is reporting continued commitment from its strategic investors, whom have re-upped...

Thursday, February 1, 2024, 08:41:17 AM