VANCOUVER, BC, Feb. 11, 2021 /CNW/ - FPX Nickel Corp. (TSXV:
FPX) ("FPX" or the "Company") is pleased
to report that, as announced in its January
20, 2021 news release, the Company has issued 5,312,386
common shares of the Company in settlement (the "Debt
Conversion") of the $3,453,051
principal and interest owing on the long-term loan provided to the
Company by a Private Shareholder (the "Private Shareholder
Loan"). On completing the Debt Conversion, the Private
Shareholder Loan has been extinguished and the Company is now
debt-free.
![FPX Nickel Corp. Logo (CNW Group/FPX Nickel Corp.) FPX Nickel Corp. Logo (CNW Group/FPX Nickel Corp.)](https://mma.prnewswire.com/media/1436920/FPX_Nickel_Corp__FPX_Nickel_Closes_Debt_Retirement_and_Announces.jpg)
All the securities issued pursuant to the Debt Conversion will
be subject to a four (4) month hold period. Completion of the
Debt Conversion is subject to receipt of all required regulatory
approvals. In accordance with Venture Exchange Policy 4.3
Shares for Debt, which requires that the identity of the
creditor in a debt conversion transaction be disclosed, the
creditor is the Allyn T. Knoche Living Trust. Mr.
Allyn Knoche, Trustee of the Living
Trust, will be the beneficial owner of 32,996,843 common shares of
FPX, after giving effect to the Debt Conversion.
The Company further announces that it will be participating in
Renmark Financial Communications Inc.'s live Virtual Non-Deal
Roadshow Series to provide a Company overview and discuss its 2021
plans on Wednesday, February
24th at 4:00 pm Eastern
time (1:00 pm Pacific
time). FPX welcomes stakeholders, investors, and other
individual followers to register and attend this live event using
the following registration link:
https://talk-deck.com/info/live-register/?292!ut9dx30v1dy.
FPX has granted 250,000 stock options to a Company
employee. The stock options have an exercise price of
$0.80 per share and will expire on
February 10, 2026.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development
of the Decar Nickel District, located in central British Columbia, and other occurrences of the
same unique style of naturally occurring nickel-iron alloy
mineralization known as awaruite.
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne, President, CEO and
Director
Forward-Looking Statements
Certain 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.
SOURCE FPX Nickel Corp.