Flying Nickel Closes Private Placement for Proceeds of $680,000 with Norway House Cree Nation As Minago's Strategic Partner
Vancouver, August 14, 2023 - Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) ("Flying Nickel" or the "Company") is pleased to announce that it has closed a non-brokered private placement offering ("the Offering") of 6,800,000 common shares of the Company raising gross proceeds of $680,000. The Offering was priced at $0.1 per share.
Norway House Cree Nation ("NHCN") was the sole investor. As a result of the Offering, NHCN owns approximately 9.7% Flying Nickel's common shares.
NHCN is a strategic partner to Flying Nickel. The Company's flagship Minago nickel project is in NHCN's exclusive traditional territory.
The Offering does not affect terms of the March 2023 Impact Benefit Agreement between the Company and NHCN, which entitles NHCN to purchase an additional 10% of Flying Nickel's common shares in the future.
No finders fees were payable in connection with the Offering. The securities issued as part of the Offering will be subject to a 4-month hold period.
Proceeds of the Offering are will be used for exploration and general working capital.
About Flying Nickel
Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company. The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.
Further information on the Company can be found at www.flynickel.com.
ON BEHALF OF THE BOARD
John Lee
Interim Chief Executive Officer
For more information about the Company, please contact:
Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL
Email: info@flynickel.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding Flying Nickel's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel's forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177066
