Welcome to our dedicated page for NORTHX NICKEL news (Ticker: NXNIF), a resource for investors and traders seeking the latest updates and insights on NORTHX NICKEL stock.
NorthX Nickel Corp (NXNIF) generates news that reflects its role as a Canadian Ni-Cu-Co-PGE exploration and development company in the basic materials sector. Company announcements focus on its flagship Grasset Project in Quebec, portfolio transactions in Ontario, financing activities, exploration results and corporate governance developments.
Recent news highlights include the agreement and subsequent closing of the sale of NorthX's Sudbury portfolio of nickel and base metal assets in the Sudbury Basin to Magna Mining Inc. These updates detail the structure of the transaction, the assets involved and the company’s intention to concentrate on its 100%-owned Grasset Project within the Abitibi Greenstone Belt. Related releases also describe how proceeds from a non-brokered private placement of subscription receipts were used to satisfy cash requirements associated with the transaction.
NorthX’s news flow also covers technical and exploration milestones at the Grasset Project. The company has reported on the Grasset deposit’s mineral resource estimates, the characterization of the H1 and H3 horizons, the discovery of the H1X Zone through drilling, and the results of an airborne magneto-telluric survey designed to map structures and identify anomalies for further work. These disclosures provide detailed geological and resource context for investors following nickel sulphide exploration.
Corporate and capital markets updates appear in the form of Annual General and Special Meeting results, board changes and leadership transitions, as well as early warning reports related to significant security acquisitions. Together, these news items give readers insight into NorthX’s strategic focus, project advancement and ownership changes. Investors and observers can use this news stream to monitor how NorthX advances its Grasset Project, manages its portfolio and responds to conditions in the nickel and broader metals markets.
Michael Gentile has announced the acquisition of 4,800,000 units of NorthX Nickel Corp (OTC:NXNIF) through the conversion of subscription receipts. Each unit consists of one common share and one warrant, with warrants exercisable at $0.075 per share for 36 months.
Following the acquisition, Gentile now owns 8.75% of NorthX's outstanding shares on an undiluted basis and 16.09% on a partially diluted basis. The investment is described as long-term, with Gentile indicating potential future transactions depending on market conditions.
NorthX Nickel (OTCQB: NXNIF) has completed several significant transactions and announcements. The company has closed the sale of its Sudbury Basin portfolio to Magna Mining, successfully converted subscription receipts from a $1.3 million private placement, and announced a leadership transition with the resignation of CEO Tom Meyer.
The company's focus shifts to its flagship Grasset Nickel property in Quebec, which hosts one of Canada's largest nickel sulphide deposits with an Indicated Mineral Resource of 5.5 Mt grading 1.53% NiEq. Recent drilling has revealed the new H1X Discovery Zone, showing significant intercepts including 1.29% Ni over 7.20 metres. The property's potential is further supported by a comprehensive airborne magneto-telluric survey identifying multiple promising anomalies.
NorthX Nickel Corp (CSE: NIX, OTCQB: NXNIF) has announced a definitive asset purchase agreement with Magna Mining (TSX: NICU) to sell its entire Sudbury Basin portfolio of nickel and base metal assets. Under the agreement, Magna will acquire all property, assets, rights, and obligations related to NorthX's Sudbury Properties for C$1.00. As part of the deal, Magna will assume liabilities for the Broken Hammer Project Mine Closure Plan, including approximately C$481,629 in financial assurance, while NorthX will provide C$500,000 to cover closure financial assurance.
Following this transaction, NorthX will focus exclusively on its flagship 100%-owned Grasset Project in Quebec's Abitibi Greenstone Belt. The transaction is expected to close by the end of Q1 2025, subject to customary closing conditions and regulatory approvals.
NorthX Nickel has provided an update on its Grasset Nickel Project in Quebec, Canada. The 2023-2024 exploration program led to the discovery of the H1X Discovery Zone, with notable drilling results including up to 2.97% Ni over 0.44 meters. The property-wide airborne magneto-telluric survey identified several untested conductive zones. The company plans further drilling to extend the H1X Discovery Zone and test new targets.
The 2023 program included 11 drill holes, achieving significant finds like the H1X, which is open for expansion. The H1X Zone features higher nickel grades than the existing resources. Sonic drilling also found strong geochemical anomalies, reinforcing the potential for future discoveries.
NorthX plans detailed reverse-circulation drilling and ground surveys to explore these findings. They also highlighted the need for more exploration to capitalize on the conductive zones identified by the airborne survey.
NorthX Nickel Corp. (CSE: NIX) (OTCQB: NXNIF) (FSE: 6YR) announced the results of its Annual General and Special Meeting of Shareholders held on June 25, 2024. Shareholders voted in favor of all business matters, with 12,737,439 common shares (44.75% of outstanding shares) participated. The number of directors was fixed at five, with over 96% support for each re-elected director. Tom Meyer, Simon Marcotte, Brian Penny, Adree DeLazzer, and Christian Kargl-Simard were re-elected. BDO Canada LLP was reappointed as the auditor with 99.72% approval, and the Omnibus Equity Incentive Compensation Plan was approved with 97.07% support.
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