Skip to content

NorthX Nickel Closes $2.275M Private Placement with Mason Resources Investment

NorthX Nickel Corp. (CSE: NIX) has announced the closing of its fully-subscribed non-brokered private placement, issuing 9,479,166 units at $0.24 per unit for a total of $2,275,000.

Each unit comprises one common share and one purchase warrant, enabling holders to buy shares at $0.36 anytime until May 14, 2027. The expiration date could accelerate if shares trade at $0.72 or above for ten consecutive days after November 14, 2024.

Strategic Investment by Mason Resources Inc.

Mason Resources Inc. (TSXV: LLG) acquired 4,166,667 units, a 14.6% ownership in NorthX. Mason’s rights allow for board nominations and anti-dilution participation in future financings if ownership thresholds are maintained.

Wallbridge Participation

Wallbridge Mining Company Limited exercised pro rata rights, purchasing 1,487,500 units for $357,000, now holding 15.8% issued shares and 19.9% ownership on a partially diluted basis.

Board of Directors Changes

The board welcomes Simon Marcotte and Adree DeLazzer following the resignation of Chair David Cobbold. Marcotte will serve as Executive Chair.

President and CEO Tom Meyer said, “We’re delighted to welcome Mason Resources and look forward to advancing the high-grade Grasset Nickel Project.”

Marcotte added, “Partnering with NorthX Nickel is a pivotal step for Mason Resources. We anticipate great value from this venture.”

About NorthX Nickel

NorthX Nickel is a Canadian exploration and development company with assets in Quebec and Ontario. The flagship Grasset Project in the Abitibi Greenstone Belt boasts an indicated mineral resource of 5.5 Mt @ 1.53% NiEq.

About Mason Resources Inc.

Mason Resources Inc. focuses on investments in natural resource sectors, holding significant ownership in companies like Nouveau Monde Graphite Inc. and Black Swan Graphene Inc.

Tom Meyer
President & CEO
Tel: +1 866 899 7247

The content presented on this page has not been manually verified by our team. While we strive to ensure accuracy, we cannot guarantee the validity, completeness, or timeliness of the information provided. Always consult with appropriate professionals or sources before making any decisions based on this content.

The image is randomly selected and doesn’t necessarily represent the company or the news below.

Click here for more Company News