“The company is thrilled to announce this placement and appreciates the continued support of Robert Friedland and Rob McEwen, among other current shareholders, as it looks forward to the exciting winter 2025 drill program and summer 2025 program,” Power Nickel CEO Terry Lynch said in a news release.
The offering is expected to close around February 27, 2025, subject to regulatory approvals, including that of the TSX Venture Exchange.
Power Nickel entered the project in 2021. The Toronto-based junior miner plans to develop Nisk, located in Quebec’s James Bay region, as Canada’s first carbon-neutral nickel mine, leveraging carbon capture and hydroelectric power.
The project includes the Nisk and Lion zones, along with untested electromagnetic targets.
According to the company, the Nisk main zone features high-grade class-1 nickel with intercepts of 18.5 meters at 2.00% NiEQ and 26.6 meters at 1.98%…
