FPX Nickel Announces Settlement of Remaining 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 Settlement of Remaining Debt for Equity
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, January 20, 2021 – FPX Nickel Corp. (FPX-TSX.V) (“FPX Nickel” or the “Company”) is
pleased to announce that it intends to convert the full amount of principal and interest owing on the long -
term loan provided to the Company by a Private Shareholder (the “Private Shareholder Loan”), totalling
approximately $3,453,051, into 5,312,386 common shares of the Company at a price of C$0. 65 per share
(the “Debt Conversion”). On completion of the Debt Conversion, the Private Shareholder Loan will be
extinguished and the Company will be debt-free.
All the securities issued pursuant to th e Debt Conversion will be subject to a four (4) month hold period.
Completion of the Debt Conversion is subject to receipt of all required regulatory and other approvals,
including acceptance by the TSX Venture Exchange.
The terms of the Private Shareholder Loan are described in the Company’s news release dated March 25,
2019. 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 the Private
Shareholder is a related party of FPX Nickel given 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 a nd 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 Regul ation Services Provider accepts responsibility for the
adequacy or accuracy of this release.