Source: Mining Journal
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  • Class 1 Nickel and Technologies (NICO) has completed a non-brokered private placement
  • The company issued a total of C$500,000 in convertible debentures
  • President of the company, David Fitch, purchased all of the debentures issued in  the private placement
  • Class 1 Nickel and Technologies Limited is a mineral resource company focused on the development of its 100-per-cent-owned Alexo-Dundonald Property in Ontario
  • Class 1 Nickel and Technologies Limited opened trading at $0.14

Class 1 Nickel and Technologies (NICO) has completed a non-brokered private placement.

The company issued a total of C$500,000 in convertible debentures. The debentures have a three-year term and bear an annual interest rate of 2.00 per cent.

The principal amount owing under the debentures is convertible at the option of the holder into common shares of the company at a deemed price of $0.12 per share.

Company President David Fitch purchased all of the debentures issued in the private placement.

The debentures and underlying securities subject shares are subject to a statutory hold period expiring on May 10, 2023.

Class 1 Nickel and Technologies Limited is a mineral resource company focused on the development of its 100-per-cent-owned Alexo-Dundonald Property, a portfolio of komatiite-hosted magmatic nickel-copper-cobalt sulphide mineral resources located near the City of Timmins, Ontario.

Class 1 Nickel and Technologies Limited opened trading at $0.14.


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