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Power Nickel Inc ( (TSE:PNPN) ) has provided an update.
Power Nickel Inc. has announced the spin-out of its Golden Ivan property and certain Chilean exploration assets to its subsidiary, Chilean Metals Inc., following shareholder approval and court approval. This strategic move, expected to be finalized by January 31, 2025, will see shareholders receive new shares in both Power Nickel and the spin-off company, while also adjusting stock options, thereby potentially enhancing the company’s focus and value proposition in the mining sector.
More about Power Nickel Inc
Power Nickel Inc. operates within the mining industry, focusing on nickel exploration and development. The company is involved in various exploration projects, including the Golden Ivan property and assets in Chile.
YTD Price Performance: -2.80%
Average Trading Volume: 404,806
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$198.2M
See more insights into PNPN stock on TipRanks’ Stock Analysis page.
