TORONTO, ON / ACCESSWIRE / December 21, 2020 / Tartisan Nickel Corp. (CSE:TN)(OTC PINK:TTSRF)(FSE:A2D) ("Tartisan", or the "Company") is pleased to announce that the Company has closed a financing with Probity Mining 2020-II Short Duration Flow-Through Limited Partnership for 2,325,582 units of the Company at the price of $0.43 per unit for an aggregate subscription price of $1,000,000.26. Each unit comprises one flow-through share and one-half of one warrant. Each full warrant will entitle the holder thereof to acquire one additional common share of the Company exercisable at a price of $0.60 per warrant share for a period of 2 years from the Closing date. A finder's commission of 6% cash and 6% brokers warrants was paid to Qwest Investment Fund Management Ltd and an additional 1% brokers warrants were paid to Limelight Advisory Services.
The proceeds from the flow-through financing will be used to implement the exploration and development of the Company's flagship Kenbridge Nickel Project, Atikwa Lake Area, Northwestern Ontario. The Technical Report and Updated Mineral Resource Estimate of the Kenbridge Nickel Project (Sedar, September 17, 2020), provided recommendations for a surface exploration and definition drilling plan, in addition to geotechnical, metallurgical and environmental work to advance the Kenbridge Nickel Project. The Company intends to commence the work program as outlined in the Technical Report this winter season 2021.
About Tartisan Nickel Corp.
Tartisan Nickel Corp. is a Canadian based mineral exploration and development company which owns; the Kenbridge Nickel Project in northwestern Ontario; the Sill Lake Silver Property in Sault Ste. Marie, Ontario as well as the Don Pancho Manganese-Zinc-Lead-Silver Project in Peru. The Company has an equity stake in; Eloro Resources Limited, Class 1 Nickel and Technologies Limited and Peruvian Metals Corp.
Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE:TN; OTC:TTSRF; FSE:A2D). Currently there are 104,329,132 shares outstanding (110,431,458 fully diluted).
For further information, please contact Mark Appleby, President & CEO and a Director of the Company, at 416-804-0280 ([email protected]). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
SOURCE: Tartisan Nickel Corp.