(TheNewswire)
Vancouver, British Columbia – TheNewswire - December 23,2020 - Nickel Rock ResourcesInc. (“the Company”) ( TSXV:NICL ) , ( OTC:NIKLF ) announces thatfurther to its news release dated December 14, 2020, the Company has closed a flow-through private placementfinancing raising gross proceeds of $520,000 with a lead order fromPalisades Goldcorp Ltd. The Company has issued 4,000,000flow-through units (“FT Units)”) at a price of $0.13 per FT Unit,subject to TSX Venture Exchange (“Exchange”) finalapproval.
Each FT Unit is comprised of one FT common share andone share purchase warrant (“Warrant”). Each Warrant willentitle the holder thereof to purchase one additional common share ofthe Company at an exercise price of $0.15 per share for a period ofthree years from closing, subject to Exchange approval.
Finder’s fees totaling $7,425.60 in cash and 16,730finder warrants were paid connection with thefinancing. Each finder warrant is exercisable at $0.15 per share fortwo years from closing. The finder’s fees paid in connection withthe private placement are subject to Exchange approval.
All securities issued in connection with the privateplacement are subject to a four-month and a day hold period expiringon April 24, 2021, in accordance with applicable SecuritiesLaws.
The proceeds of the flow-through Private Placement willbe used for exploration on the Company’s recently acquired NickelProjects, located in British Columbia.
About Palisades Goldcorp.
Palisades Goldcorp is Canada's new resource focusedmerchant bank. Palisades' management team has a demonstrated trackrecord of making money and is backed by many of the industry's mostnotable financiers. With junior resource equities valued atgenerational lows, management believes the sector is on the cusp of amajor bull market move. Palisades is positioning itself withsignificant stakes in undervalued companies and assets with the goalof generating superior returns.
About Nickel Rock ResourcesInc.
The Company is a Canadian-based mineral explorationcompany which has been active in the resource sector in BritishColumbia and elsewhere in Canada. Nickel Rock Resources Inc. is aCanadian based exploration company whose primary listing is on the TSXVenture Exchange. The Company’s maintains a focus on explorationfor high value battery metals required for the electric vehicle (EV)market. The Company recently announced several acquisitionsresulting in a significant property package prospective for awaruite,a naturally occurring nickel-iron alloy important in the manufactureof environmentally efficient batteries for the electric vehiclemarkets globally.
On Behalf of the Board of Directors
“Robert Setter”
Robert Setter, President & CEO
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. General business conditions are factors that could causeactual results to vary materially from forward-lookingstatements.
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