Tartisan Nickel Corp. Closes the Second Tranche of the $4,482,000 Flow-Through Financing at $0.57 per Unit

Rhea-AI Summary

Tartisan Nickel Corp. has completed the second tranche of its flow-through financing, raising $2,580,048 by issuing 4,526,400 units at $0.57 each. Each unit includes one share and half a warrant, with full warrants priced at $0.85 for two years. The raised funds will be allocated to advancing the Kenbridge Nickel Project, as detailed in a Technical Report published on June 1, 2021. The company is also undertaking a summer 2021 drill program. Currently, Tartisan has 113,196,329 shares outstanding.

Positive

• Raised $2,580,048 from flow-through financing.
• Funds will support development of the Kenbridge Nickel Project.

Negative

• Debts or obligations associated with the financing are unspecified.

TORONTO, ON / ACCESSWIRE / June 21, 2021 / Tartisan Nickel Corp. (CSE:TN)(OTC PINK:TTSRF)(FSE:A2D) ("Tartisan" or the "Company") is pleased to announce that the Company has closed the second tranche of the $4,482,022.29 flow-through financing. The second tranche was comprised of 4,526,400 flow-through units of the Company at the price of $0.57 per unit for an aggregate subscription price of $2,580,048. 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 $0.85 per warrant share for a period of 2 years from the Closing date. A finder's commission of 6% cash and 6% brokers warrants will be paid to eligible agents. The units issued under the flow-through financing are subject to a hold period expiring four months and one day from the closing date of the tranche.

The proceeds from the flow-through financing will be used to fund the exploration and development of the Company's flagship Kenbridge Nickel Project, Atikwa Lake Area, Kenora Mining District, Ontario. The Technical Report and Updated Mineral Resource Estimate of the Kenbridge Nickel Project (SEDAR, June 1, 2021), provides recommendations for a surface exploration and a definition drilling plan, in addition to geotechnical, metallurgical and environmental work to advance the Kenbridge Nickel Project. The Company has commenced the work program as outlined in the Technical Report and intends to implement a summer 2021 drill program.

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, Peruvian Metals Corp. and Silver Bullet Mines Inc.

Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE:TN; OTC:TTSRF; FSE:A2D). There are currently 113,196,329 shares outstanding (117,627,110 fully diluted).

For further information, please contact Mark Appleby, President & CEO and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). 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.

View source version on accesswire.com:
https://www.accesswire.com/652435/Tartisan-Nickel-Corp-Closes-the-Second-Tranche-of-the-4482000-Flow-Through-Financing-at-057-per-Unit

FAQ

What is the recent financing amount raised by Tartisan Nickel Corp. (TTSRF)?

Tartisan Nickel Corp. raised $2,580,048 in its recent flow-through financing.

What will the funds from the financing be used for by Tartisan Nickel Corp. (TTSRF)?

The funds will be used to advance the Kenbridge Nickel Project.

What is the price of the units issued in Tartisan Nickel Corp.'s (TTSRF) financing?

The units were issued at a price of $0.57 each.

What are the terms of the warrants included in Tartisan Nickel Corp.'s (TTSRF) financing?

Each unit includes a warrant exercisable at $0.85 for two years.

How many shares are currently outstanding for Tartisan Nickel Corp. (TTSRF)?

There are currently 113,196,329 shares outstanding for Tartisan Nickel Corp.