Power Nickel Inc. announced a private placement of 250,000 flow-through units at a price of CAD 0.80 per unit for the gross proceeds of CAD 2,000,000 on May 1, 2024. The unit will consist of one flow-through common share and one share purchase warrant, with each warrant exercisable to purchase one common share at a price of CAD 0.80 per common share for 3 years from the date of issuance. The transaction is subject to the company's receipt of TSX Venture Exchange approval.

All securities issued under the Private Placement will be subject to a four-month and one-day statutory hold period.