Shareholder Approval of RTO: NAN’s disinterested shareholders approved the RTO by way of a resolution passed in writing in accordance with the policies of the
Filing of the declaration of deposit: NAN and PNR have finalized and filed a declaration of deposit dated
RTO Closure: Subject to satisfaction or waiver of other RTO pre-conditions, NAN and PNR expect the RTO to close within the first week of
In this press release, references to “the resulting issuer” mean NAN after the closing of the RTO. Because certain directors and officers of NAN are also directors and officers of PNR, the Merger Agreement is considered an “arm’s length” agreement pursuant to Exchange policies.
Additional information on the RTO
The RTO will be achieved through a three-party merger (the “Merger”) between a wholly-owned subsidiary of NAN and PNR to form a single company. NAN will change its name to ‘Premium Nickel Resources Ltd.’ and will be the resulting emitter. Holders of PNR securities will receive securities of the Resulting Issuer in exchange for their PNR securities at an exchange ratio of 1.054 common shares of the Resulting Issuer for each outstanding share of PNR taking into account the case of consolidation of the ordinary shares of NAN on the basis of one post-consolidation ordinary share for five (5) pre-consolidation ordinary shares (the “Consolidation”). The Transactions will result in an RTO of NAN in accordance with Exchange Policies, all in the manner contemplated by and pursuant to the terms and conditions of the Merger Agreement dated
The Maniitsoq property in
NAN has acquired 100% ownership of the property near the southern extent of the Lingman Lake greenstone belt in the northwest
PNR is a Canadian company dedicated to the exploration and development of high quality Ni-Cu-Co resources. PNR estimates that the medium to long-term demand for these metals will increase thanks to continued global urbanization and the increasing replacement of internal combustion engines by electric motors. Importantly, these metals are key to a low-carbon future.
PNR maintains a skilled team with strong financial, technical and operational expertise to move an asset from discovery to exploration and mining.
PNR has focused its efforts on finding world-class nickel sulphide assets in jurisdictions with the rule of law that meet strict criteria consistent with PNR’s values and principles that stand up to the highest standards. industry acceptable. PNR is committed to governance through transparent accountability and open communication within our team and with our stakeholders.
PNR has finalized its acquisition of
The proposed work plan for the
Vice President Corporate Affairs
Such. : +1 (604) 770-4334
Director and Chairman of the PNR Special Committee
Email: [email protected]
Caution Regarding Forward-Looking Statements
Certain statements in this press release may be considered “forward-looking statements” within the meaning of applicable Canadian securities laws, including the timing and ability of NAN and PNR to complete the RTO (if any); the timing and ability of the Common Shares of the Resulting Issuer to begin trading on the Exchange (if any); the ability of NAN and PNR to satisfy or waive the conditions precedent to the completion of the RTO (if any); and the operations and prospects of the Resulting Issuer. These forward-looking statements, by their nature, require NAN and PNR to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of performance. Words such as “may”, “will”, “would”, “could”, “expect”, “believe”, “plan”, “anticipate”, “intend”, “estimate” , “continue” or the negative or comparable terminology, as well as terms commonly used in the future tense and conditional tense, are intended to identify forward-looking statements. Information contained in forward-looking statements, including with respect to the ability to meet or waive on satisfactory terms all conditions for completion of the RTO (including, but not limited to, required regulatory approvals) , the timeline for completing the RTO (if any), the anticipated benefits of the RTO, the intended use of available funds and working capital of the Resulting Issuer, the ability to satisfy or waive satisfactory conditions to the completion of the Selkirk Acquisition, the timeline for completing the Selkirk Acquisition (if any), and the anticipated work program on the
For more information about these and other factors and assumptions underlying the forward-looking statements made in this press release regarding NAN, see the section titled “Risks and Uncertainties” in NAN’s most recent MD&A. which is filed with the Canadian Securities Commissions and available electronically under NAN’s issuer profile on SEDAR (www.sedar.com) and the risk factors described in the Filing Statement, which are available electronically on SEDAR (www. .sedar.com) under NAN’s issuer profile. The front? the forward-looking statements set forth herein regarding NAN and PNR reflect management’s expectations as of the date of this press release and are subject to change after such date. NAN and PNR disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.