Member Posts > Power Metallic Mines (formerly Power Nickel Inc.) Closes C$50 Million Private Placement to Drive Clean Nickel Exploration
Power Metallic Mines Inc. has secured C$50 million in funding, marking a significant step forward in its mission to develop a sustainable nickel operation at the Nisk Project in Quebec.
Expanding Exploration at Nisk
• Lion Zone drilling focused on high-grade mineralization.
• Tiger Zone testing continues to expand resource base.
• Western Lion Zone exploration now underway with a third rig.
Private Placement Breakdown
• Flow-Through Shares: 14,135,000 shares at C$2.83, raising C$40 million.
• Hard Dollar Shares: 6,895,000 shares at C$1.45, raising C$10 million.
• Commission Fees: C$2.5 million paid to placement agents.
Tax Benefits and Regulatory Process
• Investors qualify for federal tax credits and Québec's additional tax deduction.
• Final approval from TSX Venture Exchange pending.
• Hold period on securities extends until June 28, 2025.
With this financing, Power Metallic is driving its mission of creating Canada's first carbon-neutral nickel mine, reinforcing its role in supplying critical minerals for the clean energy revolution.

#PowerNickel #CleanEnergy #EVBatteries #SustainableMining #NickelInvesting #RenewableEnergy #BatteryMetals #GreenMining #TSXVPNPN #PNPNF #IVV #NiskMine #LionDiscovery #MiningExcellence #Nickel #Copper #Gold #Silver #PGM #MiningStocks #Polymetallic #MiningDiscovery #PowerMetallic