Member Posts > Power Metallic Mines (formerly Power Nickel Inc.) Secures C$50 Million to Enhance Nickel Supply Chain
Power Metallic Mines Inc. has completed a C$50 million private placement, strengthening its ability to scale up nickel exploration at the Nisk Project.
Expansion Strategy for Nickel Exploration
The company is intensifying its drilling program with:
• Lion Zone: Further defining and expanding nickel mineralization.
• Tiger Zone: Drilling 700 meters east to test mineral continuity.
• Western Expansion: A third drill rig is targeting previously untested areas.
Funding Allocation
• Flow-Through Shares: C$40M raised for exploration activities.
• Hard Dollar Shares: C$10M allocated for corporate growth and operations.
• Commission Fees: C$2.5M paid to BMO Capital Markets and Hannam & Partners.
Regulatory and Investor Incentives
• Investors receive tax benefits through flow-through share incentives.
• Hold period in effect until June 28, 2025.
• Awaiting TSX Venture Exchange final approval.
With these funds, Power Metallic is reinforcing its leadership in sustainable nickel mining, supporting the demand for critical battery metals.

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