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Power Nickel Inc ( (TSE:PNPN) ) has issued an announcement.
Power Nickel Inc. has announced a private placement offering of up to C$45 million, with BMO Capital Markets and Hannam & Partners acting as joint bookrunners. The proceeds from hard dollar shares will be used for working capital and general corporate purposes, while proceeds from Quebec flow-through shares will be directed towards eligible exploration expenses for tax benefits. The offering is set to close by February 27, 2025, contingent on regulatory approvals.
More about Power Nickel Inc
Power Nickel Inc. is a Canadian exploration company focusing on developing the High-Grade Nickel Copper PGM, Gold, and Silver Nisk project into potentially Canada’s next polymetallic mine. The company acquired an option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp. in February 2021. The Nisk property features a large land area with numerous high-grade intercepts, and Power Nickel aims to expand its mineralization through extensive drill programs.
YTD Price Performance: 47.66%
Average Trading Volume: 570,501
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$311.9M
For an in-depth examination of PNPN stock, go to TipRanks’ Stock Analysis page.
