Power Nickel Inc ( (TSE:PNPN) ) has issued an announcement.
Power Metallic Mines Inc. has successfully closed a private placement offering, raising approximately C$50 million. This capital will be used to accelerate exploration activities, with the addition of a third drill rig to test the western flank of the Lion Zone, while continuing exploration in the Tiger Zone. The funds from flow-through shares will be directed towards Canadian exploration expenses, benefiting from tax incentives, and are expected to enhance the company’s exploration capabilities and shareholder value.
More about Power Nickel Inc
Power Metallic Mines Inc. operates in the mining industry, focusing on exploration and development of mineral resources. The company is engaged in the extraction and processing of minerals, with a market focus on critical mineral mining.
YTD Price Performance: 51.40%
Average Trading Volume: 596,595
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$319.8M
Find detailed analytics on PNPN stock on TipRanks’ Stock Analysis page.