FPX Nickel Announces Private Placement and Settlement of Long- Term Debt for Equity
Suite 620 – 1155 West Pender
Street
Vancouver, BC Canada V6E 2P4
Tel: 604.681.8600
e-mail: [email protected]
FPX Nickel Announces Private Placement and Settlement of Long-
Term Debt for Equity
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, October 7, 2020 – FPX Nickel Corp. (FPX-TSX.V) (“FPX Nickel” or the “Company”) is
pleased to announce that it has arranged a non-brokered private placement to raise gross proceeds of up to
$3,200,000 (the “Offering”). The Offering will consist of up to 5,818,181 common shares (the
“Shares”) at $0.55 per Share in the capital stock of the Company.
The proceeds raised from the Offering will be used for the advancement of the Company’s flagship Decar
Nickel District in central British Columbia, including drilling at the Baptiste Deposit, a maiden drilling
program at the Van Target, metallurgical and market testing of nickel products for the stainless steel and
electric vehicle battery markets, and for general working capital purposes.
Concurrent with the Offering, the Company intends to convert the full amount of principal and interest
owing on the long-term loan provided to the Company by its Chairman Peter Bradshaw (the “Bradshaw
Loan”), totalling approximately $4,262,521, into 7,750,037 common shares of the Company at a price of
C$0.55 per share (the “Debt Conversion”). The terms of the Bradshaw Loan are described in the
Company’s news release dated September 4, 2019. On completion of the Debt Conversion, the Bradshaw
Loan will be extinguished.
All the securities issued pursuant to the Offering and Debt Conversion will be subject to a four (4) month
hold period. Completion of the Offering and Debt Conversion is subject to receipt of all required
regulatory and other approvals, including acceptance by the TSX Venture Exchange. The Company may
pay finders’ fees on a portion of the Offering, subject to compliance with the policies of the TSX Venture
Exchange and applicable securities legislation.
The Debt Conversion constitutes a “related party transaction” under Multilateral Instrument 61-101 –
Protection of Minority Security Holders in Special Transactions (“MI 61-101”) as Peter Bradshaw is a
related party of FPX Nickel given his role as Company Chairman and his greater than 10% beneficial
shareholding in the Company. Pursuant to Section 5.5(a) and 5.7(1)(a) of MI 61-101, the Company is
exempt from obtaining a formal valuation and minority approval of the Company's shareholders in
respect of the Debt Conversion due to the fair market value of the Debt Conversion being below 25% of
the Company's market capitalization.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel 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 at
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne, President, CEO and Director
Forward-Looking Statements
Certain of the statements made and information contained herein is considered “forward-looking
information” within the meaning of applicable Canadian securities laws. 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. Actual results could differ from those currently
projected. The Company does not assume the obligation to update any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.