Closing of RTO Transaction
Earlier today, Premium Nickel completed its previously-announced RTO Transaction, whereby
Further details regarding the RTO Transaction and the Amalgamation are set out in (i) the management information circular of Premium Nickel dated
Conversion of Subscription Receipts
On
Management and Board Reconstitution
Effective upon closing of the RTO Transaction, the Board of Directors of the Corporation was reconstituted to consist of:
Effective upon closing of the RTO Transaction, management of the Corporation was reconstituted to consist of:
Other Corporate Updates
In connection with, and prior to the closing of, the RTO Transaction: the Corporation consolidated its common shares on the basis of one post-consolidation common share for each five (5) pre-consolidation common shares; the Corporation continued from the Business Corporations Act (
Advisors
In connection with the RTO Transaction,
About
PNRL is a Canadian company dedicated to the exploration and development of high-quality Ni-Cu-Co resources. PNRL believes that the medium to long-term demand for these metals will continue to grow through global urbanization and the increasing replacement of internal combustion engines with electric motors. Importantly, these metals are key to a low-carbon future.
PNRL maintains a skilled team with strong financial, technical and operational expertise to take an asset from discovery to exploration to mining.
PNRL has focused its efforts on discovering world class nickel sulphide assets in jurisdictions with rule-of-law that fit a strict criteria that comply with PNRL's values and principles which stand up and surpass the highest acceptable industry standards. PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders.
On
The proposed work plan for the
In addition, PNRL is evaluating direct and indirect nickel asset acquisition opportunities globally, and also: (i) holds a 100% interest in the Maniitsoq property in
Contact:
Vice President
Business Development
T: +1 (604) 770-4334
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this news release may be considered 'forward?looking statements' within the meaning of applicable Canadian securities laws, including the timing and ability of the common shares of the Corporation to begin trading on the Exchange (if at all) and the business and prospects of the Corporation. These forward?looking statements, by their nature, require the Corporation to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward?looking statements. Forward?looking statements are not guarantees of performance. Words such as 'may', 'will', 'would', 'could', 'expect', 'believe', 'plan', 'anticipate', 'intend', 'estimate', 'continue', or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward?looking statements. Information contained in forward?looking statements, including the anticipated benefits of the RTO Transaction, the anticipated use of the available funds and working capital of the Corporation, and the anticipated work program on the Selebi project, are based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, current information available to the management of the Corporation, public disclosure from operators of the relevant mines, as well as other considerations that are believed to be appropriate in the circumstances. The Corporation considers its assumptions to be reasonable based on information currently available, but cautions the reader that their assumptions regarding future events, many of which are beyond the control of the Corporation, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Corporation and its businesses.
For additional information with respect to these and other factors and assumptions underlying the forward?looking statements made in this news release concerning the Corporation, see the section entitled 'Risks and Uncertainties' in the most recent management discussion and analysis of the Corporation, which is filed with the Canadian securities commissions and available electronically under the Corporation's issuer profile on SEDAR (www.sedar.com) and the risk factors outlined in the Filing Statement, which are available electronically on SEDAR (www.sedar.com) under the Corporation's issuer profile. The forward?looking statements set forth herein concerning the Corporation reflect management's expectations as at the date of this news release and are subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward?looking statements, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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