Saturday, May 31, 2025

Latest

Power Nickel Anticipates $5.0 Million Financing Will Be Oversubscribed

Power Nickel (TSXV: PNPN) is expecting its recently announced flow through financing to be oversubscribed. The financing was initially pegged at $5.0 million.

The funding round consists of the sale of flow through units at a price of $0.50 per each, with the company setting out to sell 10.0 million units. Each unit contains one flow through share and one half of a common share purchase warrant.

Warrants are valid for five years from the date of issuance and contain an exercise price of $0.50 per each. Warrants also contain an acceleration clause, whereby if the equity trades above $1.00 for ten consecutive days the company can force the acceleration of the expiry date of the warrants.

“Despite Challenging market conditions our Offering was extremely well received and we are pleased to advise that we will over subscribe the financing. Nisk has been such a great project to work on and our advances at Nisk are recognized by the investment community,” said CEO Terry Lynch.

READ: Becoming the World’s First Carbon-Neutral Nickel Mine — With Terry Lynch of Power Nickel

Proceeds from the financing are slated to be used for the further exploration of the firms Nisk property in Quebec, with funds to be used in a manner that also qualify for the federal 30% critical minerals exploration tax credit.

The financing is currently slated to close March 30.

Power Nickel last traded at $0.23 on the TSX Venture.


FULL DISCLOSURE: Power Nickel is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Power Nickel on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Power Nickel Raises Flow Through Funds At $0.90 A Share For Next Stage Of Feasibility Study

Power Nickel (TSXV: PNPN) is pushing ahead with an agreement for a project feasibility study...
Monday, November 20, 2023, 08:39:10 AM

Power Nickel: Advancing The Nisk Battery Metals Project In Quebec

Power Nickel (TSXV: PNPN) is developing its flagship Nisk high-grade nickel project in the James...

Tuesday, November 29, 2022, 09:42:52 AM

Power Nickel To Spin-Out Non-Core Assets

Power Nickel (TSXV: PNPN) is focusing its efforts solely on its Nisk high grade nickel-PGM...
Friday, July 21, 2023, 08:55:58 AM

Power Nickel Begins Nisk 2024 Winter Drill Program

Drilling has begun under a planned winter 2024 exploration program at Power Nickel's (TSXV: PNPN)...
Friday, January 19, 2024, 08:35:50 AM

Power Nickel Confirms Spin-Out of Golden Ivan Property and Key Chilean Assets

Power Nickel Inc. (TSXV: PNPN) has announced a strategic reorganization of its business, which involves...
Friday, October 18, 2024, 02:24:18 PM