Transition Metals Corp. (TSXV:XTM) acquired former exploration and development assets from First Nickel Inc. (OTCPK:FNKL.F) for CAD 0.2 million in cash and stock on January 25, 2016. Under the terms of the transaction, Transition Metals paid CAD 0.1 million in cash and CAD 0.1 million by issuing 0.98 million common shares of CAD 0.102 per share. The assets acquired includes approximately 1100 hectares of leased and patented mining and surface rights property and 7591 hectares of mining claims, including projects with defined historical NI 43-101 nickel, copper and platinum group metal (PGM) resources located in the Sudbury and Timmins areas.

Transition Metals Corp. (TSXV:XTM) completed the acquisition of former exploration and development assets from First Nickel Inc. (OTCPK:FNKL.F) on January 25, 2016.