Member Posts > Power Metallic (formerly Power Nickel Inc.) Accelerates Nisk Project with C$50 Million Capital Raise
Power Metallic Mines Inc. has secured C$50 million through a private placement, reinforcing its commitment to expanding nickel exploration at Nisk. With three active drill rigs, the company is accelerating its resource development strategy.
Key Deployment of Funds
• Lion Zone: Core drilling efforts to delineate high-grade nickel mineralization.
• Tiger Zone: Assessing mineral continuity 700 meters east.
• Western Lion Zone: Testing new targets for expanded reserves.
Financial Breakdown
• FT Shares: 14,135,000 shares at C$2.83 (C$40,002,050).
• HD Shares: 6,895,000 shares at C$1.45 (C$9,997,750).
Regulatory and Tax Benefits
• Investors receive tax advantages under the Income Tax Act and Taxation Act of Québec.
• The company guarantees renouncement of expenses by December 31, 2025.
Growth and Next Steps
Power Metallic aims to develop Canada's first carbon-neutral nickel mine, ensuring a sustainable future for battery metals.

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