Member Posts > Power Metallic Mines (formerly Power Nickel Inc.) Secures C$50 Million to Scale Up Nisk Nickel Exploration
Power Metallic Mines Inc. (formerly Power Nickel Inc.) has successfully raised C$50 million through a private placement, accelerating its ability to expand exploration at the Nisk Nickel Project in Quebec. With the growing demand for battery metals, this investment ensures continued resource expansion, advanced drilling, and long-term project viability.
Strengthening the Drilling Program at Nisk
Power Metallic has intensified its exploration efforts with three active drill rigs, focusing on:
• Lion Zone: Ongoing high-grade nickel resource expansion.
• Tiger Zone: Drilling 700 meters east to evaluate further mineralization.
• Western Expansion: A third rig is assessing additional mineralized structures.
By increasing exploration capacity, Power Metallic is positioning the Nisk Project as a key asset in Canada's critical minerals sector.
Breakdown of the Private Placement Financing
• Flow-Through Shares: 14,135,000 shares at C$2.83, raising C$40,002,050.
• Hard Dollar Shares: 6,895,000 shares at C$1.45, raising C$9,997,750.
• Agents: BMO Capital Markets and Hannam & Partners, who received a C$2.5M commission.
Tax Benefits and Compliance
• Investors gain access to flow-through tax credits and an additional 20% Québec tax deduction.
• Expenditures renounced by December 31, 2025.
• TSX Venture Exchange approval pending; securities under a hold period until June 28, 2025.
With this funding, Power Metallic is solidifying its role as a leader in sustainable nickel exploration and advancing its clean energy initiatives.

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