FPX Nickel Announces Increase to Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, March 14, 2018 (GLOBE NEWSWIRE) -- FPX Nickel Corp. (TSX.V:FPX) (“FPX Nickel” or the “Company”) is pleased to announce that as a result of positive investor response to its previously announced private placement offering of 5,416,666 common shares (“Common Shares”) of the Company at a price of $0.12 per Common Share (the “Issue Price”) for gross proceeds of $650,000 (see news release dated February 26, 2018), the Company has decided to increase the size of the offering up to a maximum of 12,250,000 Common Shares at the Issue Price, for aggregate gross proceeds of up to $1,470,000 (the “Private Placement”).
The proceeds raised from the Private Placement will be used for the Company’s ongoing internal trade-off studies on the Baptiste Deposit at its flagship Decar Nickel District in central British Columbia, and for general working capital purposes.
All the securities issued pursuant to this private placement will be subject to a four (4) month hold period. The Private Placement is expected to close on or around March 16, 2018, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including acceptance by the TSX Venture Exchange.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel-Iron Alloy Project, 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 information, 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, President, CEO and Director
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 and 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 Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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