Flying Nickel Announces Additional Private Placement Subscription by Norway House Cree Nation for $600,705
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THE UNITED STATES
Flying Nickel Announces Additional Private Placement
Subscription by Norway House Cree Nation for $600,705
Vancouver, British Columbia, August 28, 2023 – Flying Nickel Mining Corp. (“Flying Nickel”
or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) is pleased to announce that it proposes to
undertake a non -brokered private placement offering ( the “Offering”) of 7,603,862 common
shares of the Company at a price of $0.079 per share raising gross proceeds of $600,705. Norway
House Cree Nation (“NHCN”), the Company’s strategic partner, will be the sole subscriber. The
Company’s flagship Minago nickel project is in NHCN’s exclusive traditional territory.
As a result of the Offering, NHCN will own approximately 18.1% of Flying Nickel’s common
shares. NHCN is entitled to purchase additional Flying Nickel common shares to maintain its
equity ownership interest percentage in Flying Nickel immediately prior to any future dilution event
pursuant to the March 2023 Impact and Benefit Agreement between the Company and NHCN.
“NHCN’s investment in Flying Nickel strengthens and expands our symbiotic relationship. Minago
project-related opportunities will benefit current and future generations of NHCN” comments John
Lee, CEO of Flying Nickel.
No finders fees are payable in connection with the Offering. The securities issued as part of the
Offering will be subject to a 4-month hold period.
Proceeds of the Offering will be used for exploration and general working capital purposes.
The private placement is subject to approval of the TSX Venture Exchange.
About Flying Nickel
Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company. The
company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in
Manitoba, Canada.
Further information on the Company can be found at www.flynickel.com.
FLYING NICKEL MINING CORP.
ON BEHALF OF THE BOARD
John Lee
Chief Executive Officer
For more information about the Company, please contact:
Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words
such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions,
and statements related to matters which are not historical facts, are forward -looking information
within the meaning of applicable securities laws. Such forward-looking statements, which reflect
management’s expectations regarding Flying Nickel’s future growth, results of operations,
performance, business prospects and opportunities, are based on certain factors and
assumptions and involve known and unknown risks and uncertainties which may cause the actual
results, performance, or achievements to be materially different from future results, performance,
or achievements expressed or implied by such forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on
the Flying Nickel’s forward -looking statements. Flying Nickel believes that the expectations
reflected in the forward -looking statements contained in this news rel ease and the documents
incorporated by reference herein are reasonable, but no assurance can be given that these
expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify
important factors that could cause actual actions, events or results to differ materially from those
described in forward looking statements, there may be other factors that cause actions, events or
results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to
release publicly any future revisions to forward -looking statements to reflect events or
circumstances after the date of this news or to reflect the occurrence of unanticipated events,
except as expressly required by law.