Nickel North Exploration Corp. (NNX - TSX-Venture Exchange) (the "Company" or "Nickel North") the Company is pleased to announce closing of its previously announced flow-through private placement on March 13, 2026 ("FT Private Placement") issuing 9,090,910 common shares (the "FT Shares") at $0.055 per share for gross proceeds of $500,000.
Each FT Share will be issued as a "flow-through share" as defined in the Income Tax Act (Canada) (the "Tax Act"). The Company will use the proceeds of the Offering to incur “Canadian Exploration Expenses” ("CEE") that are "flow-through mining expenditures" (as such terms are defined in the Tax Act) on the Hawk Ridge Ni-Cu-PGE-Co project in Northern Quebec. The Company will renounce the CEE to the subscribers in the Offering with an effective date of no later than December 31, 2026, and as required under the Tax Act.
In connection with the FT Private Placement, the Company issued to a finder 6% of the total FT Shares issued as the finder's fee, and these common shares issued to the finder are subject to a four-month hold period under applicable Canadian securities laws. All funds are denominated in Canadian dollars.
This FT Private Placement is subject to customary closing conditions and approvals of applicable securities regulatory authorities, including the TSX Venture Exchange.
About Nickel North Exploration
Nickel North Exploration is a Canada-based exploration company focused on defining a Cu-Ni-Co-PGE mineral resource at its Hawk Ridge Project in Northern Quebec. The board of directors, advisor committee and management team are experienced, successful mine finders. The property consists of a 50 km long belt of strong magmatic Cu-Ni-Co-PGE occurrences covering 179.67 km2. Quebec is a mining-friendly jurisdiction. Nickel North Exploration is a conscientious corporate citizen maintains good relations with local Inuit communities and is committed to sustainable development. For more information on the company, please visit www.nnexploration.com or follow Company on Twitter at https://twitter.com/nickelnorth.
Nickel North Exploration Corp. has been identified as a key player in the Critical and Strategic Minerals value chain by Quebec's Ministry of Economics and Innovation (MEI) in 2021 (Quebec Plan for the Development of Critical and Strategic Minerals 2020-2025 (quebec.ca), which is part of Quebec's Plan for the Development of Critical and Strategic Metals (QPDCSM) and aims to stimulate the exploration and mining of SCMs, their transformation and recycling.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Per: "Tony Guo"
Tony Guo
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Nickel North Exploration Inc. Tony Guo. P. Geo, Chief Executive Officer |
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North America IR / PR |
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For further information please visit http://www.nnexploration.com
This news release may contain forward-looking information, which is not comprised of historical facts. 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. Forward- looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. 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 TSX Venture exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.