Member Posts > Power Metallic Mines (formerly Power Nickel Inc.) Raises C$50 Million to Scale Up Nisk Project Development
Power Metallic Mines Inc. has successfully raised C$50 million in a private placement, enabling the company to ramp up nickel exploration and drive resource expansion at the Nisk Project.
Drilling and Exploration Plans
The company's exploration strategy now includes:
• Lion Zone: Expanding high-grade nickel resource potential.
• Tiger Zone: Testing new mineralized zones 700 meters east.
• Western Lion Zone: Investigating additional mineralization.
Investment Breakdown
• C$40 million from Flow-Through Shares for exploration.
• C$10 million from Hard Dollar Shares for operational expenses.
• Commission of C$2.5 million paid to BMO Capital Markets and Hannam & Partners.
Tax Incentives for Investors
• Flow-through expenditures qualify for tax credits.
• Québec-based investors gain an extra 20% deduction.
With the anticipated approval from the TSX Venture Exchange, Power Metallic is positioning itself to capitalize on the rising demand for critical battery metals.

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