Flying Nickel Announces Debt Settlement of $62,600 in Shares
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERV ICES OR FOR DISSEMINATION IN
THE UNITED STATES
Flying Nickel Announces Debt Settlement
of $62,600 in Shares
Vancouver, British Columbia, December 20, 2023 – Fl ying Nickel Mining Corp. (“Flying
Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) announces that it has entered into
agreements to settle an aggregate of $62,600 of debt owed to three directors of the Company for
management fees and directors fees in consideration for the issuance of 626,000 common shares
of the Company at a price of $0.10 per share (the “Debt Settlement ”).
The insider debt settlements aggregating $62,600 and 626,000 common shares are exempt from
the valuation and minority shareholder approval req uirements of Multilateral Instrument 61-101
(“MI 61-101”) by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101
in that the fair market value of the consideration for the securities of the Company to be issued to
insiders does not exceed 25% of its market capitali zation All securities issued pursuant to the
Debt Settlement will be subject to a statutory four month hold period.
Flying Nickel and Nevada Vanadium Mining Corp. (“Ne vada Vanadium”) also announce that
further to their joint press releases dated October 5, 2022 and August 23, 2022, Flying Nickel and
Nevada Vanadium continue to work diligently with th eir respective advisors towards completion
of the proposed acquisition of all of the issued an d outstanding common shares of Nevada
Vanadium by Flying Nickel by way of a court-approve d plan of arrangement (the “Transaction”).
Flying Nickel and Nevada Vanadium expect to update the closing schedule in January 2024.
About Flying Nickel
Flying Nickel Mining Corp. is a nickel sulphide exploration-stage mining company. The Company
is advancing its 100% owned Minago nickel project i n 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 Ser vices 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 his torical 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 forwar d-looking statements. Forward-looking
information in this news release includes the statement concerning its business plan and mining
properties.
Forward-looking statements involve significant risks and uncertainties, and should not be read as
guarantees of future performance, events or results , and may not be indicative of whether such
events or results will actually be achieved. A number of risks and other factors could cause actual
results to differ materially from expected results discussed in the forward-looking statements,
including but not limited to: changes in business p lans; ability to secure sufficient financing to
advance the Company’s project, ability to complete the Company’s prosed merger with Nevada
Vanadium Mining Corp. by plan of arrangement (the “Proposed Transaction"), as announced by
press releases on October 5 and August 23, 2022 (collectively, the “Joint News Releases”); and
general market, industry and economic conditions. See the Joint News Releases for further details
about the Proposed Transaction and its associated r isks. Further details about the risk factors
concerning the proposed transaction are set out in such news releases. Additional risk factors are
set out in the Company’s latest annual and interim management’s discussion and analysis,
available on SEDAR+ at www.sedarplus.ca.
Forward-looking statements are based on reasonable assumptions by management as of the
date of this news release, and there can be no assu rance that actual results will be consistent
with any forward-looking statements included herein . Readers are cautioned that all forward-
looking statements in this news release are made as of the date of this news release. The
Company undertakes no obligation to update or revis e any forward-looking statements in this
news release to reflect circumstances or events tha t occur after the date of this news release,
except as required by applicable securities laws.