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TORONTO, March 28, 2024 (GLOBE NEWSWIRE) — EV NICKEL INC. (TSX-V: EVNI) (“EVNi” or “company“) is pleased to announce that it has completed its previously announced private placement of flow-through common stock totaling $5,119,750 (“)RecruitmentThis offering is being made by PowerOne Capital Markets Limited and Clarus Securities Inc. (“Agent”).
“We are very grateful for the strong interest in this financing, which will be used to further develop our high-grade, large-scale nickel resource. We have significant capital and are actively preparing for our future work program.'' Paul Davis, Vice President, Exploration.
This offering consists of: (i) 1,705,000 premium flow-through common shares (each a “Premium flow-through share“), price per premium flow-through share of $0.95, total proceeds of $1,619,750, and (ii) 4,666,667 flow-through common shares (each “flow-through share“), the price per flow-through share is $0.75, and the total revenue is $3,500,000.
Premium flow-through shares and flow-through shares qualify as “flow-through shares” (within the meaning of section 66(15) of the Act). income tax law (Canada)). The gross proceeds from the Offering will be used by the Corporation to defray “Canadian exploration costs” that qualify as “flow-through significant mineral mining expenditures” (as both terms are defined in the Income Tax Act (Canada)). “”Eligible expenditure) relates to the Company's Shaw Dome property located south of Timmins, Ontario. Eligible expenditures have an effective date of no later than December 31, 2024, and the aggregate amount is at least ” out of the total proceeds raised from the offering.
In consideration for its services, the Company paid the Agent cash fees valued at $358,382.52 and a writ of indemnity in the amount of $446,017. Each award warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.75 per common share from the closing date of the offering until his close of business 24 months later.
All securities issued under this offering are subject to a forbearance period expiring four months and one day from the date of issuance. This offering is subject to final approval by the TSX Venture Exchange.
About EV Nickel Co., Ltd.
EVNi's mission is to accelerate the transition to clean energy. The company is a Canadian nickel exploration company focused on the Shaw Dome project south of Timmins, Ontario. EVNi had to survey over 30,000 hectares across the show dome and identified a further favorable strike length of over 100 km. Shaw Dome contains a high-grade W4 deposit containing a combined resource of 2.0 million tonnes at 0.98% Ni and 43.3 million pounds of Class 1 nickel. It consists of 1.45 million tonnes of measured and indicated resources and 0.6 inferred resources at 0.98% Ni. Mt at 0.98% Ni and large CarLang area with over 10km of mineralization and first 20% A zone – total resources of 11B to 53B lbs Class 1 Nickel at 0.24% Ni It consists of an indicated resource of 0.50 million tonnes at 0.25% Ni and an inferred resource of 0.50 million tonnes at 0.23% Ni. EVNi owns the Clean Nickel trademark and plans to grow and drive its Clean Nickel™ business to target the growing demand from the electric vehicle battery sector. The company focuses on his two strategies. Track 1 – High-Grade Clean Nickel™ Production (starting from W4); Track 2 – Integrated Carbon Capture and Storage Project with Large-Scale Clean Nickel™ Production (starting from CarLang).
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information. Such forward-looking statements and information are provided for the purpose of providing information regarding management's current expectations and plans regarding the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Such forward-looking information may include statements such as “anticipates,” “suggests,” “estimates,” “will,” “expects,” “intends,” “plans,” or “may.” “No,” “Will,” and similar expressions. Forward-looking statements and information are based on a number of factors and assumptions used in developing such statements and information, which may prove to be inaccurate. Although EVNi believes that the expectations reflected in such forward-looking statements or information are reasonable, the Company cannot give any assurance that such expectations will prove to be correct. , you should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from those stated in such forward-looking information include changes in business plans and strategies, market conditions, stock prices and the maximum use of available cash. , and the company's capabilities. to raise sufficient capital to fund its obligations under its various contractual arrangements, to maintain its mineral properties and mining rights in good standing, and for its project and general working capital purposes, economic To investigate and develop conditions and financial market changes and the inherent risks associated with mineral exploration, future prices of metals and other commodities, environmental challenges and risks, and the permits required to explore, drill and develop the project. our ability to obtain permissions and consents, and, if obtained, to obtain such permissions and consents in a timely manner; our plans and business objectives; the circumstances and other circumstances that may affect our operations; changes in laws or regulations, compliance with such laws and regulations, dependence on key management personnel and in connection with general competition in the mining industry; These and other risks could cause actual results or events to differ materially. The forward-looking information contained in this press release reflects EVNi's current expectations, assumptions and/or beliefs based on information currently available to us. Any forward-looking information speaks only as of the date on which it is made and, except as required by applicable securities laws, the Company does not expect future results, whether as a result of new information or otherwise. We disclaim any intention or obligation to update forecast information. , future events or results or are expressly limited by this cautionary statement.
The securities offered have not been registered under the United States Securities Act of 1933, as amended. US securities laws “), or offers or sells, as that term is defined in Regulation S promulgated under applicable state securities laws, to or for the account or benefit of any person in the United States or a “U.S. Person.'' or sell it. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction in which such an offer, solicitation, or registration requirement would be applicable. there is no. Sales will be illegal.
contact address
For more information, please visit www.evnickel.com.
Or contact Gadi Levin.
Email: info@evnickel.com
EV Nickel Co., Ltd.
200 – 150 King Street W
Toronto, Ontario M5H 1J9
www.evnickel.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
