FPX Nickel Increases Private Placement
August 23 2019 - 9:20AM
FPX Nickel Corp.
(FPX-TSX.V) (“
FPX
Nickel” or the “
Company”) is pleased to
announce that as a result of positive investor response to its
previously announced private placement offering of 8,000,000 common
shares (“Common Shares”) of the Company at a price of $0.15 per
Common Share (the “
Issue Price”) for gross
proceeds of $1,200,000 (see news release dated August 22, 2019),
the Company has decided to increase the size of the offering up to
a maximum of 8,333,333 Common Shares at the Issue Price, for
aggregate gross proceeds of up to $1,250,000 (the “
Private
Placement”). The Private Placement is expected to
close in September 2019.
The proceeds raised from the Private Placement
will be used for the Company’s ongoing internal trade-off studies
on the Baptiste Deposit at its flagship Decar Nickel District in
central British Columbia, and for general working capital
purposes.
All the securities issued pursuant to this
private placement will be subject to a four (4) month hold period.
The Private Placement is subject to certain conditions including,
but not limited to, the receipt of all necessary regulatory and
other approvals, including acceptance by the TSX Venture
Exchange.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration
and development of the Decar Nickel-Iron Alloy Project, located in
central British Columbia, and other occurrences of the same unique
style of naturally occurring nickel-iron alloy mineralization known
as awaruite. For more information, please view the Company’s
website at www.fpxnickel.com or contact Martin Turenne, President
and CEO, at (604) 681-8600.
On behalf of FPX Nickel Corp. "Martin Turenne"
Martin Turenne, President, CEO and Director
Forward-Looking StatementsCertain
of the statements made and information contained herein is
considered “forward-looking information” within the meaning of
applicable Canadian securities laws. These statements address
future events and conditions and so involve inherent risks and
uncertainties, as disclosed in the Company's periodic filings with
Canadian securities regulators. Actual results could differ from
those currently projected. The Company does not assume the
obligation to update any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation
Services Provider accepts responsibility for the adequacy or
accuracy of this release.
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