“Wow, that was easy. All kidding aside, it’s terrific to have this accomplished.”
Power Nickel (TSX-V:PNPN) CEO Terry Lynch is excited to have completed the spin out of its Golden Ivan Project and certain Chilean assets to shareholders through new entity Chilean Metals.
“It will allow Chilean Metals to be able to grow at its own pace and on its own merit. We recently reviewed the exploration programs and we are very excited to have them advance their drill plans in mid H1,” Lynch explains.
“Will have a more fulsome update for the market around PDAC. We are excited about the future at Chilean even while we remain focused on advancing our exploration at Nisk.”
The spin out was completed as part of a strategic reorganisation and to provide Power Nickel shareholders with an ownership stake in two separate specialised companies.
Power Nickel will issue each shareholder one new Power Nickel share and 0.05 of a Chilean Metals share for each share already held.
Yesterday, Mining.com.au reported that the spin out would take effect as of 3 February and once effective, new Power Nickel shares will continue trading on the TSX Venture Exchange, on the OTC Market in the US, and on the Frankfurt Stock Exchange in Germany.
In October last year, the Canadian junior explorer outlined the demerger will be undertaken via a plan of arrangement, in which Power Nickel shareholders will receive common shares in Chilean Metals.
Power Nickel is a mineral explorer focused on developing the Nisk Project into potentially Canada’s next polymetallic mine.
The Nisk Project comprises a 20km strike length and is considered prospective for nickel-copper, platinum group elements, gold, and silver.
Power Nickel will be exhibiting at this year’s Prospectors & Developers Association of Canada (PDAC) event being held from 2-5 March in Toronto, Canada.
The annual award winning convention brings together up to 30,000 attendees from over 130 countries for its educational programming, networking events, as well as business and investment opportunities.
Mining.com.au is an official media partner for the upcoming event.
To register for PDAC 2025 click here.
Write to Aaliyah Rogan at Mining.com.au
Images: Power Nickel
