Class 1 Nickel and Technologies Ltd. (CSE: NICO) (OTCQB: NICLF) is pleased to announce that it has completed a non-brokered private placement pursuant to which it has issued an aggregate of 5,500,000 “flow-through” common shares at a price of $0.30 per Share to raise aggregate gross proceeds of $1,650,000.

The Company issued an aggregate of 385,000 broker warrants to eligible registrants assisting in the Private Placement, each of which is exercisable to acquire one common share of the Company at an exercise price of $0.30 for a period of three years, All securities issued and issuable pursuant to the Private Placement are subject to a statutory hold period expiring on April 10, 2025. The Private Placement remains subject to the final approval of the Canadian Securities Exchange.

 

About Class 1 Nickel

Class 1 Nickel and Technologies Limited is a mineral resource company focused on the development of its 100% owned Alexo-Dundonald Property, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide Mineral Resources located near the City of Timmins, Ontario. The Corporation also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine, as well as additional property interests.