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POWER NICKEL ANNOUNCES C$2 MILLION PRIVATE PLACEMENT By Investing.com

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TORONTO, April 4, 2024 /PRNewswire/ – Power Nickel Inc. (the “Company” or “Power Nickel“) (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVVI) is pleased to announce that it plans to complete a Private Placement (the “Offering“) for up to 10 Million common shares of the Company, at a price of $0.20 per share, for gross proceeds of CAD $2,000,000. The Company has received conditional TSX Venture Exchange (“TSXV“) approval for the Private Placement.

“We are pleased to announce we have secured commitments to close this financing and that closing is expected to take place next week. These are challenging market conditions but we are making such great progress we just must keep going. I sincerely believe this financing will be the last done at these levels and that junior mining markets are entering a turnaround phase. At Power Nickel in particular, we have had a series of announcements about our ongoing exploration programs and their positive results and expect to report more on that shortly”,  commented Power Nickel CEO Terry Lynch.

The financing is non-brokered but certain brokerage fees and / or finder fees payable in cash and /or finder warrants, may be paid in accordance with applicable securities law and TSXV policies.

Funds will be used for general corporate purposes and in particular will fund specific investor communications programs.

In the past twelve months we have spent approximately $500,000 on awareness and investor communications programs and have hired Agoracom, The DeeperDive, Investor Intel (NASDAQ:), 6ix, Prodoscomi Inc, National Inflation Association and Proactive Media to provide such services. It is expected that in 2024 we would have similar or possibly larger budgets for these services and activities. The relevant agreements will, where applicable and required by TSXV policies, be filed for TSXV approval, if the services provided under such agreements constitute “investor relations activities” under TSXV policies.

About Power Nickel Inc.

Power Nickel is a Canadian junior exploration company focusing on developing the High-Grade Nisk project into Canada‘s first Carbon Neutral Nickel mine.

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). Subsequently, Power Nickel has exercised its option to acquire 50% of the Nisk Project and delivered notice to Critical Elements that it intends to exercise its…

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