Core Nickel Corp. (CSE: CNCO) is delighted to announce the successful completion of its non-brokered private placement (the “Offering”) as previously disclosed on September 13, 2024. The company issued 8,000,000 flow-through units (FT Units) at a rate of $0.05 per FT Unit, resulting in total proceeds of $400,000. More information regarding the Offering can be found in the news release dated September 13, 2024.
All securities issued through this private placement are subject to a hold period until January 21, 2025, in compliance with relevant securities regulations and the policies of the Canadian Securities Exchange.
The funds raised from the sale of the FT Units will be allocated towards exploration activities on Core Nickel’s projects within the Thompson Nickel Belt, Manitoba.
Core Nickel owns the 100%-owned Mel Deposit Project, situated just 25 km from Vale’s operational Thompson Mill Complex. The Mel Deposit boasts a historical estimate with an indicated resource of 4.3 million tonnes grading 0.88% nickel and an inferred estimate of 1.0 million tonnes grading 0.84% nickel. Additionally, the company owns the Halfway Lake Project, located 15 km from the Bucko Mill, where a recent drill program intersected promising grades of nickel mineralization.
Two significant investors, Mr. Paul Reid and Mr. Marc Pais, participated in the Offering, acquiring significant amounts of FT Units. Both investors disclosed their intention to hold these shares for investment purposes.
Core Nickel Corp. is a junior nickel exploration company with full control over five properties in the Thompson Nickel Belt (TNB) in Northern Manitoba, Canada. The company’s properties are strategically located near existing infrastructure, facilitating exploration and development activities.
The Qualified Person for this news release is Caitlin Glew, P. Geo., Vice-President Exploration at Core Nickel Corp., who has reviewed and endorsed the contents of the release.
Management cautions that historical results mentioned in this news release may be incomplete or subject to minor inaccuracies, as they have been reported by past operators and have not been validated by a Qualified Person. However, these results serve as a foundation for ongoing exploration activities.
On behalf of the Board of Directors, Misty Urbatsch, CEO, President, and Director of Core Nickel Corp., signed off on this release. For additional information, please visit the company’s official website.
