March 7, 2022
Flying Nickel Mining Corp. (TSXV:FLYN, Not Rated, Timothy Lee) began trading on the TSX Venture Exchange. The company is listed as a Tier 1 mineral exploration issuer, and its shares began trading at the open on March 4. In connection with the listing, gross proceeds of $2,975,000 were released from escrow upon converting the final tranche of 4,250,000 subscription receipts into units. Each unit consists of one share and a half warrant, with each warrant exercisable at C$1.00 until November 29, 2023. The subscription receipts were the final tranche of a larger C$8.6M offering. The company will use the proceeds for ongoing exploration and development work at its 100%-owned Minago Ni project in Manitoba as well as general corporate expenses. The company has also applied for listing on the OTCQB. This is an important, positive milestone for the company. While Flying Nickel is a new company, having been spun out from Silver Elephant Mining Corp. (TSX:ELEF, Not Rated), it has a well-established project at Minago, which hosts over 1B lbs Ni in all resource categories. Read more
