Nickel One Announces New CEO, Board Members and Debt Settlement
1
March 28, 2019
For Immediate Release
TSX-V: NNN
Nickel One Announces New CEO, Board Members
and Debt Settlement
VANCOUVER, British Columbia, March 28, 2019 (GLOBE NEWSWIRE) – Nickel One Resources
Inc. (“Nickel One” or the “Company”) (TSXV: NNN.V) is pleased to announce that it has entered
into a Settlement Agreement (“Agreement”) between certain dissident shareholders of the
Company, the Company, Mr. Scott Jobin -Bevins (Vice President Exploration and Director), Mr.
Ray Strafehl (Direct or), Mr. Vance Loeber (former President, CEO and Director), Mr. Robert
Scott (CFO) and FT Management Ltd.
In accordance with the Agreement, Mr. Vance Loeber has resigned as President, CEO and
Director of the Company.
Mr. Strafehl stated, “Nickel One and its Board would like to thank Vance Loeber for laying the
foundation on which the Company continues to build, and for his support as Nickel One
undergoes this process of renewal.”
The Company is pleased to announce that, effective immediately, Mr. Derrick Weyrauch has
been appointed as Interim President and Chief Executive Officer of Nickel One.
Additionally, Nickel One is pleased to announce the appointment of Mr. Lawrence Roulston and
Mr. Derrick Weyrauch to the board of directors. Mr. Roulston and Mr . Weyrauch are
experienced mining professionals with financial acumen and the proven ability to raise capital,
administer mining companies and position Nickel One for success.
Lawrence Roulston is a mining professional with over 35 years of diverse hands -on experience.
He heads WestBay Capital Advisors, providing business advisory and capital markets expertise
to the junior and mid- tier sectors of the mining industry. From 2014 to 2016, he was President
of Quintana Resources Capital, which provided resource advisory services for US private
investors. Before Quintana, he was a mining analyst and consultant, as well as the editor of
“Resource Opportunities”, an independent investment publication focused on the mining
2
industry. Prior to this, Lawrence was an analyst or executive with various companies in the
resources industry, both majors and juniors. He has graduate -level training in business and
holds a B.Sc. in geology and is presently a director of Metalla Royalty and Streaming Ltd,
Auramex Resource Corp, M ountain Boy Minerals Ltd, Romios Gold Resources Inc and
Thunderstruck Resources Ltd.
Derrick Weyrauch, CPA CA is an experienced mining executive and corporate director. Mr.
Weyrauch’s background includes finance, risk management, corporate restructuring a nd
turnarounds, coupled with M&A strategy development, execution and post transaction
integration. He is the co-founder of Magna Mining Corp. and is a former corporate director of a
number of companies including Eco Oro Minerals Corp., Jaguar Mining Inc. and Banro Corp. and
is a former CFO of Jaguar Mining Inc. and Andina Minerals Inc. Currently he is a non -executive
director and at Cabral Gold Inc. (TSXV: CBR) Mr. Weyrauch obtained his CPA CA designation
with KPMG LLP and is a member of CPA Canada and the Institute of Corporate Directors. He
holds an Honours B.A. in Economics from York University.
Ray Strafehl, Director stated, “ We are very pleased and excited to welcome Lawrence Roulston
and Derrick Weyrauch to the Board. Both, Lawrence and Derrick have a wealth of industry
experience and extensive networks of contacts that will help Nickel One move forward in
extracting value from its current properties and expanding growth with future potential
opportunities.”
Derrick Weyrauch, Interim President , Chief Executive Officer and Director stated, “Nickel One
has two potential nickel, copper and palladium -rich projects which have been languishing at a
time when market demand for palladium projects is accelerating. It will be our priority to
reinvigorate market’s awareness about the Company’s assets and investment opportunity.”
Additionally, he stated “To that end our initial focus will be to:
• Pay claim fees where existing mining properties are in danger of expiring,
• Pay critical suppliers and/or seek accommodation with those suppliers,
• Enhance the working capital of the company”
The Agreement requires Nickel One to make a $ 100,000 payment, In Trust, in full and final
satisfaction of all current indebtedness, contingent or otherwise owing to Mr. Loeber and FT
Management Ltd, and any affiliated corporate entities, which prior to the Agreement is
estimated to be approximately $300,000 (unaudited).
The agreement also provides that Mr. Loeber and FT Management Ltd. will apply 100% of the
proceeds to subscribe for the next private placement conducted by the Company . Their
subscription will be on the same terms and conditions as all other participating subscribers of
that private placement.
3
Additionally, the Company has agreed to reimburse the dissident shareholder for all reasonable
costs associated with the Agreement, which are estimated to be $120,000.
About Nickel One
Nickel One Resources Inc. is a PGE, Nickel, Copper exploration and development company. Its
assets consist of the Tyko Nickel, Copper, Platinum Group Element (“ Ni-Cu-PGE”) Property near
Marathon, Ontario, Canada and The Lantinen Koillismaa (“LK”) PGE -Ni-Cuproject, located in
north-central Finland.
ON BEHALF OF THE BOARD
“Derrick Weyrauch”
For further information contact:
Derrick Weyrauch
Interim President, Chief Executive Officer and Director
Phone: 1-778-327-5799
Email: [email protected]
Rob Scott
Chief Financial Officer
Phone: 1-778-327-5799 ext. 307
Email: [email protected]
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Information set forth in this press release may con tain forward -looking statements. Forward
looking statements are statements that relate to future, not past events. In this context,
forward looking statements often address a company's expected future business and financial
performance, and often contain words such as "anticipate", "believe", "plan", "estimate",
"expect", and "intend", statements that an action or event "may", "might", "could", "should",
or "will" be taken or occur, or other similar expressions. By their nature, forward -looking
statements involve known and unknown risks, uncertainties and other factors which may cause
our actual results, performance or achievements, or other future events, to be materially
different from any future results, performance or achievements expressed or implied by such
forward looking statements. Such factors include, among others, risks associated with project
development; the need for additional financing; operational risks associated with mining and
mineral processing; fluctuations in gold and other commodity pr ices; title matters; 6
environmental liability claims and insurance; reliance on key personnel; the absence of
dividends; competition; dilution; the volatility of our common share price and volume; and tax
consequences to U.S. Shareholders. Forward -looking statements are made based on
4
management's beliefs, estimates and opinions on the date that statements are made and the
Company undertakes no obligation to update forward- looking statements if these beliefs,
estimates and opinions or other circumstances should change. Investors are cautioned against
attributing undue certainty to forward-looking statements.