EV Nickel Announces Non-Brokered Private Placement of up to C$1.0 Million
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July 17, 2023 TSX-V: EVNI
EV Nickel Announces Non-Brokered Private Placement of up to
C$1.0 Million
TORONTO, ON – EV NICKEL INC. (TSX -V: EVNI) (“EVNi” or the “ Company”) is announcing a non -brokered private
placement (the “Offering”) for gross proceeds of up to C$$1,000,00 from the sale of units of the Company (each, a “Unit”)
at a price of C$0.06 per Unit. Each Unit will consist of one common share of the Company and one common share purchase
warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of the Company (each,
a “Warrant Share”) at a price of C$0.09 for a period of 24 months following the closing date of the Offering.
The Company intends to use the proceeds raised from the Offering for continued exploration of the Company’s Shaw
Dome Project located south of Timmins in Ontario and general corporate expenses.
A finder’s fee may be paid on a portion of the proceeds from the Offering. Closing of the Offering is subject to customary
closing conditions including, but not limited to, the receipt of applicable regulatory approvals, including the approval of
the listing of the Shares on the TSX Venture Exchange.
The securities offered have not been regis tered under the U.S. Securities Act of 1933, as amended (the “ U.S. Securities
Act”), or any applicable state securities laws and may not be offered or sold to, or for the account or benefit of, persons
in the United States or “U.S. persons,” as such term is defined in Regulation S promulgated under the U.S. Securities Act,
absent registration or an exemption from such registration requirements. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall t here be any sale of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
About EV Nickel Inc.
EV Nickel’s mission is to accelerate the transition to clean energy. It is a Canadian nickel exploration company, focus sed
on the Shaw Dome Project, south of Timmins, Ontario. EV Nickel has over 30,000 hectares to explore across the Shaw
Dome and has identified >100 km of additional favourable strike length. The Shaw Dome includes the High -Grade W4
Deposit- with a Resource which defined 2.0M tonnes @ 0.98% Ni for 43.3M lbs of Class 1 Nickel across Measured, Indicated
and Inferred and the Large-Scale CarLang Area with more than 10km of mineralization and where the first 20% contains
the A Zone - with a Resource which defined 1.0B tonnes @ 0.24% Ni for 5.3B lbs of Class 1 Nickel across Indicated and
Inferred. EV Nickel owns the trademark for Clean Nickel and plans to grow and advance a Clean Nickel™ business, targeting
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the growing demand from the electric vehicle battery sector . The Company is focused on a 2 -track strategy: Track 1- to
produce High-Grade Clean Nickel™ (starting with W4) and Track 2- an integrated Carbon Capture & Storage project with
Large-Scale Clean Nickel™ production (starting with CarLang).
The Company ackno wledges the financial contributions being provided by the Province of Ontario’s Critical Minerals
Innovation Fund (CMIF) and the Government of Canada through the Industrial Research Assistance Program (IRAP) in
assisting with the implementation of EVNi’s Clean Nickel™ Research and Development Program.
Qualified Person
The Company’s Projects are under the direct technical supervision of Paul Davis, P.Geo., and Vice -President of the
Company. Mr. Davis is a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information
in this press release. There are no known factors that could materially affect the reliability of the information verified by
Mr. Davis.
Cautionary Note Regarding Forward-Looking Statements
This press release con tains forward-looking information. Such forward -looking statements or information are provided
for the purpose of providing information about management’s current expectations and plans relating to the future.
Readers are cautioned that reliance on such in formation may not be appropriate for other purposes. Any such forward -
looking information may be identified by words such as “anticipate”, “proposed”, “estimates”, “would”, “expects”,
“intends”, “plans”, “may”, “will”, and similar expressions. Forward -looking statements or information are based on a
number of factors and assumptions which have been used to develop such statements and information, but which may
prove to be incorrect. Although EVNi believes that the expectations reflected in such forward -looking statements or
information are reasonable, undue reliance should not be placed on forward -looking statements because the Company
can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ
materially from those described in such forward-looking information include, but are not limited to, changes in business
plans and strategies, market conditions, share price, best use of available cash, the ability of the Company to raise
sufficient capital t o fund its obligations under various contractual arrangements, to maintain its mineral tenures and
concessions in good standing, and to explore and develop its projects and for general working capital purposes, changes
in economic conditions or financial m arkets, the inherent hazards associated with mineral exploration, future prices of
metals and other commodities, environmental challenges and risks, the Company’s ability to obtain the necessary permits
and consents required to explore, drill and develop its projects and if obtained, to obtain such permits and consents in a
timely fashion relative to the Company’s plans and business objectives, changes in environmental and other laws or
regulations that could have an impact on the Company’s operations, comp liance with such laws and regulations, the
Company’s ability to obtain required shareholder or regulatory approvals, dependence on key management personnel,
natural disasters and global pandemics, including COVID-19 and general competition in the mining in dustry. These risks,
as well as others, could cause actual results and events to vary significantly. The forward-looking information in this press
release reflects the current expectations, assumptions and/or beliefs of EVNi based on information currently available to
the Company. Any forward -looking information speaks only as of the date on which it is made and, except as may be
required by applicable securities laws, the Company disclaims any intent or obligation to update any forward -looking
information, whether as a result of new information, future events or results or expressly qualified by this cautionary
statement.
Contact Information
For further information, visit www.evnickel.com
Or contact: Sean Samson, President & CEO at [email protected]
EV Nickel Inc.
200 - 150 King St. W,
3
Toronto, ON M5H 1J9
www.evnickel.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy of this release.