Premium Nickel Engages Altitude Capital Partners
Premium Nickel Engages Altitude Capital
Partners
Toronto, Ontario--(Newsfile Corp. - October 17, 2024) -
Premium Nickel Resources Ltd. (TSXV:
PNRL) (
"
PNRL
" or the "
Company
"
)
iis pleased to announce that the Company has entered into an
advisory agreement with Altitude Capital Partners Inc. (
"Altitude"
) to support the Company with capital
markets strategy and analysis of funding. This engagement aims to enhance the Company's market
presence as the Company advances its past-producing copper-nickel-cobalt-platinum group element
(
"Ni-Cu-Co-PGE"
) sulphide Selebi and Selkirk mines in Botswana.
Altitude is a capital markets advisory firm based in Toronto, Ontario which is led by Michael Wekerle
where he currently serves as Managing Partner. Altitude works in cooperation with ECM Capital
Advisors Inc. ("
ECM
"), directed by Managing Partner, Eugene "Gene" McBurney. Mr. Wekerle has an
extensive career in capital markets. Early in his career he joined First Marathon and quickly rose up to
become the head trader for the firm, where he was a key player in Roger's takeover of McLean Hunter in
1994. He then joined GMP (Griffiths McBurney and Partners) as Vice Chairman of trading, where he was
involved with the 1997 initial public offering of Research in Motion (RIM). In 2012, he formed his own firm,
Difference Capital where he invested in companies such as Thunderbird Films, Vision Critical,
Appinions and HootSuite. Mr. Wekerle is well known for the four seasons (seasons 9 through 12) that he
was an investor on the Canadian television show, Dragon's Den. Mr. McBurney, B.A., M.A., LL.B., LL.D.,
has over 25 years of international investment banking experience and is an established advisor in the
global mining sector. He has a notable history of leading landmark transactions in the natural resources
sector, demonstrating his capability to deliver strategic outcomes for his clients.
Keith Morrison, PNRL CEO and Director, commented
: "Michael and his team at Altitude, bring a
known track record of working with earlier stage resource companies, and continuing to support them
through complex market conditions. Our team is eager to work with them and help bring the benefits from
their career's experience to PNRL."
When asked about working with PNRL, Michael Wekerle of Altitude Capital commented:
"I'm
really looking forward to working with the Premium Nickel team and navigating through this bull market.
Premium Nickel presents a significant opportunity due to the global shift toward electrification and
renewable energy particularly given the polymetallic nature of the deposits. Copper plays an essential
role in the global transition to clean energy. As the world moves away from fossil fuels, the need for
sustainable and reliable copper and nickel sources becomes essential. Premium Nickel's projects offer
not only access to high-quality copper-nickel-cobalt-PGE deposits but also an opportunity to be at the
forefront of responsible mining practices in Africa. This combination of rising demand and the focus on
sustainable best practices, positions the Company as a major player in the energy and materials
landscape, making it an ideal opportunity for investors and stakeholders."
Gene McBurney commented:
"Bahamas-based ECM Advisors brings decades of experience and a
track record of success in the resource and mining sectors to support Premium Nickel's team as they
reboot their Botswana copper-nickel-cobalt-PGE mines. Our expertise in navigating complex financial
landscapes and our commitment to sustainable growth align perfectly with PNRL's vision for these
mines. We're excited to leverage our knowledge to help revitalize one of Africa's key nickel assets,
creating value not only for stakeholders but for the communities and industries that depend on these
resources."
Altitude has been engaged for a term of five years, commencing as of October 1, 2024. The services to
be rendered by Altitude include providing the Company with capital markets advice, analysis of strategic
opportunities, reviewing capital requirements and capital markets opportunities for the Company as well
as general market making advice and services. Pursuant to the terms of the engagement, the Company
will pay Altitude monthly fees of CAD $17,000 and the Company has agreed to grant, in consideration of
Altitude's services, 1,200,000 options pursuant to the Company's option plan. The options will have an
exercise price of CAD $1.25 per common share for a period of five years from the date of grant and vest
in equal monthly tranches of 100,000 options commencing October 15, 2024 until the earlier of
September 15, 2025 and the date the engagement is terminated. Support provided by ECM will be
provided pursuant to the Company's engagement with Altitude; no separate agreement has been
entered into with ECM. The Company is at arms-length from Altitude, ECM and their principals. In
addition to the options to be granted to Altitude by the Company in connection with the engagement as
outlined above, Altitude and ECM have advised the Company that (i) as of the effective date of the
engagement and as of the date hereof, they and their principals own, directly or indirectly, an aggregate
of 1,169,500 common shares of the Company and no other securities of the Company or right or intent
to acquire such interest, and (ii) they and their principals may from time to time acquire and dispose of
common shares or other securities of the Company.
About Premium Nickel Resources Ltd.
PNRL is a mineral exploration and development company that is focused on the redevelopment of the
previously producing nickel, copper and cobalt resources mines owned by the Company in the Republic
of Botswana.
PNRL is committed to governance through transparent accountability and open communication within
our team and our stakeholders. Our skilled team has worked over 100 projects collectively, accumulating
over 400 years of resource discoveries, mine development and mine re-engineering experience on
projects like the Company's Selebi and Selkirk mines. PNRL's senior team members have on average
more than 20 years of experience in every single aspect of mine discovery and development, from
geology to operations.
ON BEHALF OF THE BOARD OF DIRECTORS
Keith Morrison
Director and Chief Executive Officer
Premium Nickel Resources Ltd.
For further information about Premium Nickel Resources Ltd., please contact:
Jaclyn Ruptash
Vice President, Communications and Government and Investor Relations
+1 (604) 770-4334
Cautionary Note Regarding Forward-Looking Statements:
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation based on expectations, estimates and projections as at the date of this news
release. Forward-looking information involves risks, uncertainties and other factors that could cause
actual events, results, performance, prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information. For the purposes of this release, forward
looking information includes, but is not limited to: the expected impact and benefits of the engagement of
Altitude (in partnership with ECM); the term length of engagement of Altitude; the global trend towards
electrification and renewable energy; the significance of copper and nickel sources and the demand
relating to energy and metals; and the objectives, goals and future plans of the Company, including the
proposed advancement of the Selebi and Selkirk projects. These forward-looking statements, by their
nature, require the Company to make certain assumptions and necessarily involve known and unknown
risks and uncertainties that could cause actual results to differ materially from those expressed or
implied in these forward-looking statements. Factors that could cause actual results to differ materially
from such forward-looking information include, but are not limited to, uncertainties relating to the
availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in
commodity prices; and those risks set out in the Company's public disclosure record on SEDAR+
(
www.sedarplus.com
) under PNRL's issuer profile. Although the Company believes that the assumptions
and factors used in preparing the forward-looking information in this news release are reasonable,
undue reliance should not be placed on such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur in the disclosed time frames or at all.
The Company disclaims any intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, other than as required by law.
Neither the 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 news release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained herein.
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To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/226895