Power Nickel Inc. Raises $2.18 Million
Power Nickel Inc. (TSXV: PNPN) has completed a significant private placement, amassing CAD $2,180,000 from the issuance of flow-through units. With a second drilling rig joining the Nisk exploration program, the company is geared to probe new pods identified by pioneering Fleet Space Technologies Ambient Noise Tomography.
Strategic Use of Funds for Exploration
Proceeds from the sale will bolster exploration of Power Nickel’s flagship Nisk property in Quebec. The aim is to acquire eligible Canadian exploration expenses that align with the Critical Mineral Exploration Tax Credit.
Power Nickel’s 2024 Strategic Initiatives
The following are the key strategies set forth for 2024 by Power Nickel:
– Advancement of the Nisk exploration project.
– Concluding a feasibility study with CVMR Inc.
– Spinning off copper and gold assets into a new company structure.
– Finalizing royalty sale from the Teck Resources Limited operated Copaquire project.
– Selling a company stake and negotiating an offtake agreement.
– Shielding shareholders against hostile short-selling practices.
Power Nickel is steadfast in its commitment to expanding resources and underscores its ambition to become a significant player in the nickel mining sector with its innovative projects and exploration strategies.
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