FPX Nickel Announces Full Exercise of Participation Right by Corporate Strategic Investor and Completion of Resultant Private Placement
Suite 320 – 1155 West Pender Street
Vancouver, BC Canada V6E 2P4
Tel: 604.681.8600
e-mail: [email protected]
FPX Nickel Announces Full Exercise of Participation Right by
Corporate Strategic Investor and Completion of Resultant Private
Placement
Vancouver, June 7, 2023 – FPX Nickel Corp. (TSX-V: FPX, OTCQB: FPOCF) (“FPX” or the
“Company”) is pleased to announce that in connection with the $16 million strategic investment by
Outokumpu Oyj (“Outokumpu”) announced on May 30, 2023, the Company’s existing Corporate Strategic
Investor has exercised its participation right in full to re-establish a 9.95% ownership of FPX’s issued and
outstanding common shares (“Common Shares”).
On November 29, 2022, FPX announced a private placement of common shares with the Corporate
Strategic Investor which pr ovided the Corporate Strategic Investor the right to participate in equity
financings to maintain its 9.95% interest in the Company. In connection with the exercise of the
participation right, the Company has completed an additional private placement (“ Private Placement”)
through the issuance of 3,251,184 Common Shares of the Company to the Corporate Strategic Investor at
a price of $0.60 per Common Share, for gross proceeds of $1,950,710.
“We are very pleased with the continued interest that our Corpora te Strategic Investor has shown in FPX
and our Baptiste Nickel Project, and look forward to the advancement of Baptiste toward the completion of
a preliminary feasibility study and beyond,” said Martin Turenne, FPX’s President and CEO.
The Company intends to use the net proceeds of the Private Placement primarily for development activities
at the Project, including the completion of a preliminary feasibility study for Baptiste, continuance of
ongoing environmental baseline activities, and feasibility study readiness activities, as well as general
corporate and administrative purposes. The TSX Venture Exchange has provided final acceptance of the
Private Placement and the Common Shares issued pursuant to the Private Placement are subject to a hold
period of four (4) months and one (1) day from the date of issuance in accordance with applicable securities
laws. No finders’ fees or commissions were paid on the Private Placement.
About the Decar Nickel District
The Company’s Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization
in the form of a naturally occurring nickel -iron alloy called awaruite (Ni 3Fe) hosted in an
ultramafic/ophiolite complex. FPX’s mineral claims cover an area of 245 km 2 west of the Middle River
and north of Trembleur Lake, in central British Columbia. Awaruite mineralization has been identified in
several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as
confirmed by drilling, petro graphic examination, electron probe analyses and outcrop sampling. Since
2010, approximately US $28 million has been spent on the exploration and development of Decar.
Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing
resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and
engineering studies to evaluate its potential as a bulk-tonnage open pit mining project. The Baptiste Deposit
is located within the Baptiste Creek watershed, on the traditional and unceded territory of Tl’azt’en Nation
and Binche Whut’en First Nation, and within several Tl’azt’enne and Binche Whut’enne keyohs. FPX has
conducted mineral exploration activities to date subject to the conditions of our agreements with the Nations
and keyoh holders.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development of the Decar Nick el District, located in
central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron
alloy mineralization known as awaruite. For more information, please view the Company’s website at
www.fpxnickel.com or contact Martin Turenne, President and CEO, at (604) 681 -8600 or
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne, President, CEO and Director
Forward-Looking Statements
This press release may contain “forward-looking information” within the meaning of applicable Canadian
securities laws, including those describing FPX's future plans, and the expectations of management that a
stated result or condition will occur. These statements address future events and conditions and so involve
inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities
regulators, including its Annual Information Form and MD&A, dated April 19, 2022 and March 30, 2023,
respectively. Actual results could differ materially from those currently projected by management at the
time of writing due to many factors the majority of which are beyond the control of FPX and its
management. In particular, this news release contains forward -looking statements pertaining, directly or
indirectly, to the following: the use of proceeds of the Private Placement and final acceptance by the TSXV.
Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These
statements speak only as of the date of this release or as of the date specified in the documents
accompanying this release, as the case may be. The Company assume the obligation to update any forward-
looking statement except as expressly required by applicable securities law
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.