Premium Nickel Resources Ltd. Announces Upsize to Previously- Announced Non- brokered Equity Financing Aggregate $27.5 Million Non-Brokered Equity Financing After Upsize
Premium Nickel Resources Ltd. Announces
Upsize to Previously- Announced Non-
brokered Equity Financing
Aggregate $27.5 Million Non-Brokered Equity Financing After
Upsize
Toronto, Ontario--(Newsfile Corp. - June 10, 2024) -
Premium Nickel Resources Ltd. (TSXV: PNRL)
(OTCQX: PNRLF)
(the "
Company
") is pleased to announce that the Company is upsizing its
previously-announced non-brokered private placement offering (the "
Offering
") of units of the Company
(the "
Units
") at a price of $0.78 per Unit from approximately C$15 million to aggregate gross proceeds
of up to approximately C$27.5 million, in response to very strong interest in the Offering, largely from the
Company's existing shareholders.
The Company has received committed subscriptions for the entire
C$27.5 million.
Other than the upsize of the Offering, all other details of the non-brokered equity financing remain as
disclosed in the news release of the Company issued on June 5, 2024 and entitled
"Premium Nickel
Resources Ltd. Announces Fully-Committed $15 Million Private Placement of Units"
.
The initial tranche of the Offering for aggregate gross proceeds of approximately C$15 million is
expected to close on or about June 14, 2024 and the final tranche of the Offering for the remaining Units
is expected to close on or about June 21, 2024, subject to the receipt of all necessary approvals,
including the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there
be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful, including any of the securities in the United States of America. The securities have not been
and will not be registered under the United States Securities Act of 1933, as amended (the "
1933
Act
") or any state securities laws and may not be offered or sold within the United States or to, or for
account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered
under the 1933 Act and applicable state securities laws, or an exemption from such registration
requirements is available.
ON BEHALF OF THE BOARD OF DIRECTORS
Keith Morrison
Chairman 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 Information
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 news release,
forward looking information includes, but is not limited to: the Company's ability to complete the Offering
(if at all) on the terms announced; the Company's ability to obtain all necessary approvals in respect of
the Offering; and the anticipated closing dates of the Offering. 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, the demand by investors for Units;
the condition of the capital markets generally; the timelines to obtain regulatory approval of the Offering;
capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain
required governmental, environmental or other project approvals; uncertainties relating to the availability
and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in
commodity prices; delays in the development of projects; the other risks involved in the mineral
exploration and development industry; and those risks set out in the Company's public disclosure record
on SEDAR+ (www.sedarplus.ca) under the Company'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.
Follow Us
X (formally Twitter):
https://twitter.com/PremiumNickel
Linked in:
https://www.linkedin.com/company/premium-nickel-resources
Facebook:
https://www.facebook.com/PremiumNickel
/ Not for distribution to United States newswire services or for dissemination in the United
States /
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/212299