Source: Mining Journal
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  • Class 1 Nickel and Technologies (NICO) has completed a non-brokered private placement of convertible debentures in the principal amount of $500,000
  • The debentures have a three-year term and an interest rate of 2 per cent per annum
  • Company President David Fitch has purchased all the debentures issued under the private placement
  • Class 1 Nickel and Technologies Limited is a mineral resource company  focused on the Alexo-Dundonald Project located near Timmins, Ontario
  • Class 1 Nickel and Technologies Limited (NICO) opened trading at C$0.145

Class 1 Nickel and Technologies (NICO) has completed a non-brokered private placement of convertible debentures in the principal amount of $500,000.

The debentures have a three-year term and an interest rate of 2 per cent per annum. The principal amount owing under the debentures shall be convertible at the option of the holder into common shares at $0.11 per share.

Company President David Fitch has purchased all the debentures issued under the private placement.

The debentures and shares issued are subject to a statutory hold period expiring on April 24, 2023.

Class 1 Nickel and Technologies Limited is a mineral resource company focused on developing its 100 per cent owned Alexo-Dundonald Property, a portfolio of komatiite-hosted magmatic nickel-copper-cobalt sulphide Mineral Resources located near Timmins, Ontario. The Corporation also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine, as well as additional property interests.

Class 1 Nickel and Technologies Limited (NICO) opened trading at C$0.145.


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