Member Posts > Power Metallic Mines (formerly Power Nickel Inc.) Secures C$50 Million to Fast-Track Nickel Exploration
Power Metallic Mines Inc. has successfully completed a C$50 million private placement, marking a pivotal step toward scaling up nickel exploration at the Nisk Project. This investment supports Power Metallic's broader vision of becoming a leading supplier of battery metals for EV production.
Expanded Drilling and Exploration Focus
With three rigs now in operation, Power Metallic is aggressively pursuing new resource expansion:
• Lion Zone: Continued drilling to evaluate nickel mineralization.
• Tiger Zone: Assessing deposits 700 meters east.
• Western Lion Zone: Exploring previously untested areas.
Funding Allocation and Financial Structure
• Flow-Through Shares: C$40M raised for direct exploration costs.
• Hard Dollar Shares: C$10M allocated for corporate and general use.
• Commission Fees: C$2.5M paid to BMO Capital Markets and Hannam & Partners.
Investor Tax Incentives and Regulatory Compliance
• Investors qualify for federal tax deductions and a 20% Québec tax credit.
• Expenditures renounced by December 31, 2025.
• Securities are restricted until June 28, 2025, pending TSX Venture Exchange approval.
With this capital infusion, Power Metallic is advancing its commitment to sustainable nickel mining and supporting clean energy solutions.

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