Nickel One Resources Inc. Announces Private Placement of $500,000 and Closes $336,000 First Tranche
TSX VENTURE: PDM
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VANCOUVER, British Columbia, March 19, 2018 (GLOBE NEWSWIRE) -- Nickel One Resources Inc. (TSXV:NNN) (the “Company” or “Nickel One”) is pleased to announce that it has arranged a non-brokered private placement of up to 10,000,000 units at a price of $0.05 per unit to raise aggregate proceeds of up to $500,000. Each unit consists of one common share and one half common share purchase warrant. Each whole common share purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.10 per share.
In addition, today the Company announced that it has closed the first tranche of the private placement. The Company issued 6,720,000 units at a price of $0.05 per unit for gross proceeds of $336,000.
Each unit consisted of one common share and one half common share purchase warrant. Each common share purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.10 per share.
All securities issued will be subject to a four-month hold period with expiring on July 20, 2018. The Company intends to use the proceeds of the private placement for general working capital purposes.
No Finders Fees were paid with respect to funds received during the first tranche of this private placement.
About Nickel One:
Nickel One Resources Inc. is a PGE, Nickel, Copper exploration and development company evaluating the Tyko Property near Marathon, Ontario, Canada and has recently acquired the LK PGE, Copper Nickel, project in Finland. Nickel One’s objective is to efficiently advance the Tyko Project through exploration and development to a mineral resource and to continue the development and expansion of the LK project. The Company intends to build shareholder value through accretive acquisition of additional promising assets.
ON BEHALF OF THE BOARD:
President & CEO, Director
For further information contact:
Phone: 1-778-327-5799 ext.315
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Nickel One Resources Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in gold and other commodity prices; title matters; 6 environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to U.S. Shareholders. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.