Flying Nickel Closes 1 st Tranche of Non-Brokered Private Placement Raising Gross Proceeds of $120,000
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Flying Nickel Closes 1 st Tranche of Non-Brokered
Private Placement Raising Gross Proceeds of $120,000
VANCOUVER, British Columbia, September 25, 2024 – Flying Nickel Mining Corp. (TSX-V:
FLYN; OTCQB: FLYNF) (“ Flying Nickel ” or the “ Company ”) announces that, further to its news
release dated August 30, 2024, it has closed the first tranche of its non-brokered private placement
offering (the “ Private Placement ”) raising gross proceeds of $120,000 through the i ssuance of
2,400,000 units (the “ Units ”) at a price of $0.05 per Unit.
Each Unit consists of one common share of the Company (“ Share ”) and one share purchase warrant
with each warrant (the “ Warrant ”) entitling the holder to purchase one additional Share at a price of
$0.06 per Share for a period of three years from issuance.
The securities issued in connection with the Privat e Placement will be subject to a regulatory hold
period and cannot be traded until January 25, 2025.
Proceeds of the Private Placement are expected to b e used for general working capital and
administrative purposes.
The Company paid a finder’s fee to Ventum Financial Corp. in connection with a portion of the
Private Placement by way of issuance of 7,000 Units.
John Lee, CEO and a Director of the Company, subscribed for 1,800,000 Units for gross proceeds
of $90,000. The issuance of Units to Mr. Lee pursua nt to the Private Placement is considered a
related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of
Minority Security Holders in Special Transactions (“MI 61-101”). The Company relies on exemptions
from the formal valuation and minority shareholder approval requirements provided under sections
5.5(a) and 5.7(a) of MI 61-101 on the basis that pa rticipation in the Private Placement by insiders
will not exceed 25% of the fair market value of the Company’s market capitalization. The Company
will file a material change report in respect of th e related party transactions in connection with the
Private Placement.
About Flying Nickel Mining Corp.
Flying Nickel is an exploration-stage mining company focused on vanadium and nickel resources.
The Company owns a 100% interest in the Gibellini v anadium project in Nevada, United States
and a 100% interest in the Minago nickel project in the Thompson nickel belt in Manitoba, Canada.
Further information on Flying Nickel 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 Flying Nickel, please contact:
Suite 1610 – 409 Granville Street
Vancouver, BC V6C 1T2
Phone: 1.877.664.2535 / 1.877.6NICKEL
Email: [email protected]
Neither the 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.
Forward-looking Statements and Cautionary Disclaimers
References to $ herein refer to the lawful currency of Canada.
Certain statements contained in this news release, including statements which may contain words such a s
“expects”, “anticipates”, “intends”, “plans”, “beli eves”, “estimates”, or similar expressions, and sta tements
related to matters which are not historical facts, are forwardlooking information within the meaning o f
applicable securities laws. Such forward-looking st atements, which reflect management’s expectations
regarding the Company's future growth, results of o perations, performance, business prospects and
opportunities, are based on certain factors and ass umptions and involve known and unknown risks and
uncertainties which may cause the actual results, p erformance, or achievements to be materially differ ent
from future results, performance, or achievements expressed or implied by such forward-looking statements.
Forward-looking information in this news release in clude the expected gross proceeds of the Private
Placement, use of proceeds raised from the Private Placement, and the participation and by certain insiders
who are directors of the Company in the Private Placement and the amount of such participation.
Forward-looking statements involve significant risks and uncertainties, and should not be read as guarantees
of future performance, events or results, and may n ot 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: market conditions;
ability to complete the financing; changes in business plans; ability to secure sufficient financing to advance
the Company’s mining projects; and general economic conditions. Additional risk factors about the Company
are set out in its latest annual and interim manage ment’s discussion and analysis and annual informati on
form available under the Company’s profile 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 assurance that ac tual results will be consistent with any forward-looking
statements included herein. Readers are cautioned t hat all forward looking statements in this news rel ease
are made as of the date of this news release. The C ompany undertakes no obligation to update or revise
any forward-looking statements in this news release to reflect circumstances or events that occur afte r the
date of this news release, except as required by applicable securities laws.