Flying Nickel Closes Final Tranche of Private Placement for Proceeds of $120,000
Vancouver, British Columbia, November 22, 2023 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) is pleased to announce that it has closed the final tranche of a non-brokered private placement (the “Private Placement”) of 1,333,350 common shares of the Company previously announced on September 25, 2023, raising gross proceeds of $120,001.50. The Private Placement was priced at $0.09 per share.
Proceeds of the Private Placement will be used for exploration and general working capital.
The Company also issued 161,129 common shares to Red Cloud Securities Capital Inc. as a finder’s fee in in connection with the closing of the first tranche of the private placement, which closing was announced on November 1, 2023.
The common shares issued in connection with the Private Placement and the finder’s fee are subject to a regulatory hold period expiring on March 21, 2024.
About Flying Nickel
Flying Nickel is a nickel sulphide exploration-stage mining 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.
FLYING NICKEL MINING CORP.
ON BEHALF OF THE BOARD
John Lee
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. Forward-looking information in this news release includes the statement concerning the expected use of proceeds raised from the Private Placement.
Forward-looking statements involve significant risks and uncertainties, and should not be read as guarantees of future performance, events or results, and may not be indicative of whether such events or results will actually be achieved. A number of risks and other factors could cause actual results to differ materially from expected results discussed in the forward-looking statements, including but not limited to: changes in business plans; ability to secure sufficient financing to advance the Company’s project, ability to complete the Company’s prosed merger with Nevada Vanadium Mining Corp. by plan of arrangement (the “Proposed Transaction”), as announced by press releases on October 5 and August 23, 2022 (collectively, the “Joint News Releases”); and general market, industry and economic conditions. See the Joint News Releases for further details about the Proposed Transaction and its associated risks. Further details about the risk factors concerning the proposed transaction are set out in such news releases. Additional risk factors are set out in the Company’s latest annual and interim management’s discussion and analysis, available on SEDAR at www.sedarplus.ca.
Forward-looking statements are based on reasonable assumptions by management as of the date of this news release, and there can be no assurance that actual results will be consistent with any forward-looking statements included herein. Readers are cautioned that all forward- looking statements in this news release are made as of the date of this news release. The Company undertakes no obligation to update or revise any forward-looking statements in this news release to reflect circumstances or events that occur after the date of this news release, except as required by applicable securities laws.
