Independent Nickel Corp. Closes $2.8 M Flow-Through Financing
Independent Nickel Corp. has closed the non brokered flow-through financing of $2,800,000, announced on December 19, 2006.
The Company paid finder’s fees of $121,835 and issued 348,100 finder’s warrants in respect of the financing. Each finder’s warrant entitles the holder to purchase one common share of the Company at a purchase price of $0.35 for a period of 18 months from closing.
Shares issued pursuant to this private placement, including any shares issued as a result of the exercise of finder’s warrants, will be subject to a four month hold period expiring April 23, 2007.
Proceeds from the private placement will be used to finance exploration at the Company’s Lynn Lake project located in Manitoba.
The private placement is subject to final acceptance of the TSX Venture Exchange.
This document may contain forward-looking statements relating to the Company’s operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond the Company’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
For further information
Independent Nickel Corp., Richard Murphy, President and CEO, Tel: (705) 521-8444, Email: info@independentnickel.com, 957 Cambrian Heights Drive, Suite 102, Sudbury, Ontario, P3C 5M6
Source: Independent Nickel Corp.
