Power Nickel Inc announced a private placement of 16,000,000 flow-through units at a price of CAD 1.25 per FT Unit for gross proceeds CAD 20,000,000 on June 13, 2024. Each FT Unit is comprised of one flow-through common share and one-half share purchase warrant, with each Warrant exercisable to purchase one common share at a price of CAD 1.25 per common share for three years from the date of issuance. The Company expects to close the financing before the end of June.

The offering is subject to the Company's receipt of TSX Venture Exchange approval. All securities issued under the financing will be subject to a hold period of four months and one day from the date of issuance. The Company may pay finder's fees on the financing, as permitted by the policies of the TSXV and applicable securities laws.