Fundz

Power Nickel Raises $2,180,000, Outlines 2024 Plans

PRIVATEJan 09, 2024

Amount Raised

$2.18 Million

Round Type

Seed

TorontoManufacturingMiningPrecious MetalsMineral

Description

Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce it has closed a private placement for 4,360,000 flow-through units (each an "FT Unit") of the Company, at a price of $0.50 per FT Unit, for gross proceeds of CAD $2,180,000. The FT Unit closing completed on December 29, 2023, while the balance of the back-end adjustments completed last week. The Company has received conditional TSX Venture Exchange ("TSXV") approval for this Private Placement.

Quick answer

Power Nickel raised $2.18 Million in a Seed round, dated January 9, 2024. Power Nickel is based in Toronto, Ontario, Canada.

How much did Power Nickel raise?
Power Nickel raised $2.18 Million in a Seed round on January 9, 2024.
What does Power Nickel do?
Power Nickel is a Canadian junior exploration company focusing on high-potential copper, gold, and battery metal prospects in Canada and Chile.
Where is Power Nickel based and how big is it?
Power Nickel is based in Toronto, Ontario, Canada.
Who are the decision-makers at Power Nickel?
Fundz holds 1 contact at Power Nickel, including the CEO. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Mining and Precious Metals around the same time

Companies in the same sectors as Power Nickel that raised within 45 days of this round, from Fundz verified event records.

  • Canada Nickel Company raised $19M on February 6, 2024.
  • Canada Nickel Company raised an undisclosed amount on December 29, 2023.
  • Montage Gold raised $20M (Funding Round) on February 22, 2024.
  • Brookmount Explorations raised $275K (Seed) on February 21, 2024.
  • Solaris Resources raised $130M (Corporate Round) on January 11, 2024.
  • Atacama Copper raised $1.4M on December 20, 2023.

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Company Information

Company

Power Nickel

Location

Toronto, Ontario, Canada

About

Power Nickel is a Canadian junior exploration company focusing on high-potential copper, gold, and battery metal prospects in Canada and Chile. On February 1, 2021, Power Nickel (then called Chilean Metals) completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp. (CRE:TSXV) The NISK property comprises a large land position (20 kilometers of strike length) with numerous high-grade intercepts. Power Nickel, formerly Chilean Metals is focused on confirming and expanding its current high-grade nickel-copper PGE mineralization historical resource by preparing a new Mineral Resource Estimate in accordance with NI 43-101, identifying additional high-grade mineralization, and developing a process to potentially produce nickel sulfates responsibly for batteries to be used in the electric vehicles industry. Power Nickel (then called Chilean Metals) announced on June 8th, 2021 that an agreement has been made to complete the 100% acquisition of its Golden Ivan project in the heart of the Golden Triangle. The Golden Triangle has reported mineral resources (past production and current resources) in a total of 67 million ounces of gold, 569 million ounces of silver, and 27 billion pounds of copper. This property hosts two known mineral showings (gold ore and magee), and a portion of the past-producing Silverado mine, which was reportedly exploited between 1921 and 1939. These mineral showings are described to be Polymetallic veins that contain quantities of silver, lead, zinc, plus/minus gold, and plus/minus copper. Power Nickel is 100 percent owner of five properties comprising over 50,000 acres strategically located in the prolific iron-oxide-copper-gold belt of northern Chile. It also owns a 3-per-cent NSR royalty interest on any future production from the Copaquire copper-molybdenum deposit, recently sold to a subsidiary of Teck Resources Inc. Under the terms of the sale agreement, Teck has the right to acquire one-third of the 3-per-cent NSR for $ 3 million at any time. The Copaquire property borders Teck's producing Quebrada Blanca copper mine in Chile's first region. For further information on Power Nickel Inc., please contact: Mr. Terry Lynch, CEO647-448-8044 terry@powernickel.com For further information, readers are encouraged to contact: Power Nickel Inc.The Canadian Venture Building82 Richmond St East, Suite 202Toronto, ON

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Related People

1 contact
Verified contactsDuncan R., CEOSee plans and pricing
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