Fort St. James Nickel Corp. closes financing
888 Dunsmuir Street, Suite 888, Vancouver, B.C. V6C 3K4
Tel: 604-488-3900; Fax: 604-488-3910
October 4, 2023 News Release
Fort St. James Nickel Corp. closes financing
Vancouver, British Columbia: Fort St. James Nickel Corp. (TSX-V: FTJ) (“FTJ” or the “Company”) is
pleased to announce that it has closed the non -brokered private placement previously announced on
September 6, 2023 for gross proceeds of $120,000. A total of 2,000,000 units were issued at a price of $0.06
per Unit. Each unit consisted of one common share of the Company (a “ Share”) and one transferrable
common share purchase warrant (a “ Warrant”). Each Warrant will entitle the holder to purchase one
additional Share (a “Warrant Share”) at a price of $0.08 per Warrant Share for a period of five (5) years
from the date of issuance.
The proceeds from the Private Placement will be used for general working capital purposes.
All securities issued in connection with the Offering will be subject to a hold period expiring
February 5, 2024. The closing of the private placement is subject to final TSX-V approval.
An insider of the Company, participated in the Offering by subscribing for a total of 1,000,000
Units, constituting a related party transaction pursuant to TSX Venture Exchange Policy 5.9 and
Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions
(“MI 61-101”). The Company relied on section 5.5(a) of MI 61 -101 for an exemption from the
formal valuation requirement and section 5.7(1)(a) of MI 61 -101 for an exemption from the
minority shareholder approval requirement of MI 61-101 as the fair market value of the transaction
did not exceed 25% of the Company’s market capitalization.
ON BEHALF OF THE BOARD
“Barry Brown”
President
Fort St James Nickel Corp. 604-488-3900
888 Dunsmuir Street, Suite 888, Vancouver, B.C. V6C 3K4
Tel: 604-488-3900; Fax: 604-488-3910
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein
have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or
any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S
promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration requirements is available.
Forward-Looking Statements
Forward-looking statements are based on the then -current expectations, beliefs, assumptions, estimates and forecasts
about the business and the industry and markets in wh ich the Company operates, including that: the current price of
and demand for minerals being targeted by the Company will be sustained or will improve; the Company’s current
exploration programs and objectives can be achieved; results of exploration activi ties; the Company will be able to
obtain required exploration licences and other permits; general business and economic conditions will not change in a
material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not
experience any material accident; and the Company will be able to identify and acquire additional mineral interests on
reasonable terms or at all. Forward -looking statements are not guarantees of future performance and involve risks,
uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements
involve risks and uncertainties, including: that resource exploration and development is a speculative business; that
the Company may lose or aban don its property interests or may fail to receive necessary licences and permits;
equipment breakdowns; labour disputes; the increase in cost estimates and the potential for unexpected costs and
expenses; the results of exploration activities; that environ mental laws and regulations may become more onerous;
that the Company may not be able to raise additional funds when necessary; potential defects in title to the Company’s
properties; fluctuating prices of commodities; operating hazards and risks; competit ion; potential inability to find
suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company’s
public filings. These risks, as well as others, could cause actual results and events to vary significan tly. Accordingly,
readers should not place undue reliance on forward -looking statements and information, which are qualified in their
entirety by this cautionary statement. Factors that could cause actual results to differ materially from those in forward-
looking statements include exploitation and exploration successes or lack thereof, continued availability of financing,
and general economic, market or business conditions. There can be no assurance that forward-looking information, or
the material factors or assumptions used to develop such forward looking information, will prove to b e accurate. The
Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward -
looking statements, except as required by applicable securities law.
Neither 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 or accuracy of this release.