TORONTO, Dec. 20,
2024 /CNW/ - NiCAN Limited ("NiCAN" or the
"Company") (TSXV: NICN) (OTCQB: NILTF) (FRA: W8Y) is pleased to
announce that it has negotiated the settlement of $269,799 related to drilling services provided to
the Company in 2023 in consideration for the issuance of 300,000
common shares of the Company.
The debt settlement is subject to receipt of all required
regulatory approvals, including the approval of the TSX Venture
Exchange. The common shares issued pursuant to the debt settlement
will be subject to a statutory hold period which will expire four
months and one day from the date of closing of the debt
settlement.
About NiCAN
NiCAN Limited is a mineral exploration company, trading under
the symbol "NICN" on the TSX-V, "NILTF" on the OTCQB and "W8Y" on
the FRA. The Company is actively exploring two nickel projects,
both located in well-established mining jurisdictions in
Manitoba, Canada.
www.nicanltd.com
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Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains certain
"forward-looking information" under applicable securities laws
concerning the proposed financing, business, operations and
financial performance and condition of NiCAN Limited.
Forward-looking information includes, but is not limited to, the
size and timing of the drill program, results of the drill program,
interpretations of the various surveys, NiCAN's ability to identify
mineralization similar to that found in prior drill holes, the
benefits and the potential of the properties of the Company; future
commodity prices (including in relation to NiEq calculations);
drilling and other exploration potential; costs; and permitting.
Forward-looking information may be characterized by words such as
"plan," "expect," "project," "intend," "believe," "anticipate",
"estimate" and other similar words, or statements that certain
events or conditions "may" or "will" occur. Forward-looking
information is based on the opinions and estimates of management at
the date the statements are made and are based on a number of
assumptions and subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those projected in the forward-looking information.
Many of these assumptions are based on factors and events that are
not within the control of the Company and there is no assurance
they will prove to be correct. Factors that could cause actual
results to vary materially from results anticipated by such
forward-looking information includes changes in market conditions,
fluctuating metal prices and currency exchange rates, the
possibility of project cost overruns or unanticipated costs and
expenses and permitting disputes and/or delays. Although the
Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking information, there may be other
factors that cause actions, events or results not to be
anticipated, estimated or intended. There can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. The Company undertakes no
obligation to update forward-looking information if circumstances
or management's estimates or opinions should change except as
required by applicable securities laws. The reader is cautioned not
to place undue reliance on forward-looking information.
Neither TSX-V nor its Regulation Services Provider (as that
term is defined in policies of the TSX-V) accepts responsibility
for the adequacy or accuracy of this release.
SOURCE Nican Ltd.