Power Nickel Inc. announced a private placement for 4,360,000 flow-through units at a price of CAD 0.50 per flow-through unit for gross proceeds of CAD 2,180,000 on December 29, 2023. Each flow-through unit is comprised of one flow-through common share and one-half of one transferable non-flow-through common share purchase warrant. Each warrant is exercisable into one non-flow-through common share at an exercise price of CAD 0.50 per warrant share for three years from the date of issuance. All securities issued under the private placement are subject to a four-month and one-day statutory hold period. The company has received conditional TSX Venture Exchange approval for this private placement. The company paid finder's fee of CAD 12,000 and 48,000 finder's warrants exercisable into common shares at CAD 0.50 per share for a period of 18 months.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 30 placees and 13 pro groups for 1,960,000 units.