FPX Nickel Closes Private Placement for $1,500,000 and Announces Stock Option Grant

Suite 620 – 1155 West Pender

Street

Vancouver, BC Canada V6E 2P4

Tel: 604.681.8600

e-mail: [email protected]

FPX Nickel Closes Private Placement for $1,500,000 and Announces

Stock Option Grant

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES

OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, March 12, 2020 – FPX Nickel Corp. (FPX-TSX.V) (“FPX” or the “Company”) is pleased

to report that it has closed its previously announced non-brokered private placement of 8,333,332 shares at

$0.18 per share for gross proceeds of $1,500,000 (the “Offering”).

The closing follows receipt of Conditional Acceptance of the Offering from the TSX Venture Exchange

(“Exchange”). Within the next several days, FPX will be submitting the documentation needed the enable

the Exchange to issue its Final Acceptance of the Offering. The Company anticipates receiving Final

Acceptance shortly thereafter.

In closing the financing, the Company has issued 8,333,332 shares priced at $0.18 per share. Finder’s fees

of $22,140 were paid on a portion of the proceeds. Officers and directors of the Company subscribed for

2,319,167 shares for gross proceeds of $417,450.

All the securities issued pursuant to this private placement will be subject to a four (4) month hold period

expiring on July 13, 2020. The proceeds raised from the Offering will be used for general working capital

purposes and for the early settlement of up to $687,000 in amounts owing under the Company’s long-term

debt arrangements.

The Company further announces that a total of 3,100,000 stock options have been granted to the Company’s

directors, officers and employees. The stock options have an exercise price of $0.20 per share and will

expire on March 11, 2025.

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 infor mation, please view the Company’s website at

www.fpxnickel.com or contact Martin Turenne, President and CEO, at (604) 681-8600.

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.