PURE NICKEL INC. : http://www.purenickel.com/ : QwikReport

News Releases

#February 28, 2019
Pure Nickel Sells its 50% Stake in the HPM Property, Quebec

 

TORONTO: February 28, 2019. Pure Nickel Inc. (TSXV: NIC) (the "Company") announces it has signed an agreement with Murchison Minerals Ltd. ("Murchison") for the sale of the Company's 50% interest in the HPM Property, Quebec.

Murchison will pay the Company $50,000 and issue 500,000 common shares of Murchison; the shares will be subject to a four month statutory hold period.

Mr. Russell, Pure Nickel's President and CEO stated, "We are pleased to see Murchison assume control of the project and build upon its previous exploration success. Pure Nickel plans to continue to evaluate its portfolio and review potential opportunities to diversify the Company."

Corporate Updates

The Company announces that it has adopted a new fixed number stock option plan (the "Plan"), for its directors, consultants, employees and service providers, so as to attract, retain and motivate eligible grantees. The Plan replaces and supersedes the Company's previous rolling plan and is managed by the Board of Directors of the company. The maximum number of common shares reserved for issuance under the Plan is 6,814,487, representing approximately 10% of the issued and outstanding common shares of the Company as of the date hereof. Options may be granted for a period of ten years at a price not less than the "discounted market price" as defined by TSXV policies. There are currently no options granted or existing under the Plan. The TSX Venture Exchange has conditionally accepted the adoption of the Plan.

About Pure Nickel Inc.

Pure Nickel is a mineral exploration company with a diverse collection of gold, nickel, copper and platinum group element exploration projects in North America.

For further information:

Pure Nickel Inc.
R. David Russell
T. (416) 644-0066
info@purenickel.com
www.purenickel.com

Forward Looking Statements

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Pure Nickel are forward-looking statements that involve various risks. The following are important factors that could cause Pure Nickel's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Pure Nickel undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
 
#January 11, 2019
Pure Nickel Provides Corporate Update

 TORONTO: January 11, 2019. Pure Nickel Inc. (TSXV: NIC) (the "Company") provides the following corporate updates.

Mr. R. David Russell has been appointed as CEO and President of the Company. Mr. Russell has over three decades of executive experience in the mineral exploration and development industry. From 2002 to June 2010 he was President, CEO and a director of the former Apollo Gold Corporation (now First Majestic Silver). Mr. Russell's previous positions included Vice-President and CEO of Getchell Gold Company/Placer Dome Gold, General Manager, US Operations, LAC Minerals Ltd. (purchased by Barrick Gold Corporation), Manager, Underground Mining, Independence Mining Company, Project Manager, Hecla Mining Company, Manager, Lincoln Project FMC/Meridian Gold. Mr. Russell graduated from the Montana School of Mineral Science and Technology with a Bachelor of Science Degree in Mining Engineering. He has been a director of Pure Nickel for over twelve years and as its new CEO will bring a new strategic direction to the Company. The Company thanks David McPherson for his dedication to Pure Nickel and the Company's board and management wish him well in his future endeavours.

At the Company's Annual General and Special meeting of the Shareholders ("AGM") Grant Thornton LLP was reappointed as auditor of the Company for the ensuing year, and the directors were authorized to fix their remuneration. The following incumbent directors were re-elected: Thomas Kofman, David McPherson, R. David Russell and W.S. (Steve) Vaughan. A majority of the votes were withheld from the directors and upon conclusion of the meeting David McPherson resigned as director and the board accepted his resignation effective immediately. The remaining directors of the board will work quickly with R. David Russell to identify new opportunities for the Company and a new director to replace Mr. McPherson. Overall composition of the board will also be considered.

About Pure Nickel Inc.
Pure Nickel is a mineral exploration company with a diverse collection of gold, nickel, copper and platinum group element exploration projects in North America.

Forward Looking Statements
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Pure Nickel are forward-looking statements that involve various risks. The following are important factors that could cause Pure Nickel's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Pure Nickel undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:
Pure Nickel Inc.
R. David Russell
T. (416) 644-0066

www.purenickel.com

 
#January 07, 2019
Pure Nickel Update on Annual Meeting of Shareholders

 TORONTO: January 7, 2019. Pure Nickel Inc. (TSXV: NIC) (the "Company") announces it has removed the order of business related to the proposed sale of its royalty interest in the Milford copper project from the Annual General and Special Meeting of the Shareholders scheduled for January 11, 2019 at 10:00 am ET. As previously announced in the Company's press release dated December 17, 2018, the meeting was postponed to provide shareholders with additional information regarding the royalty sale. Given time limitations and the Company's desire to complete its Annual General Meeting requirements within the regulatory time frame, it has removed the royalty sale from the matters to be acted upon.

About Pure Nickel Inc.

Pure Nickel is a mineral exploration company with a diverse collection of gold, nickel, copper and platinum group element exploration projects in North America.

Forward Looking Statements

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Pure Nickel are forward-looking statements that involve various risks. The following are important factors that could cause Pure Nickel's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Pure Nickel undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Pure Nickel Inc.
David McPherson
T. (416) 644-0066
info@purenickel.com
www.purenickel.com
 
#December 17, 2018
Pure Nickel Postpones Annual Meeting of Shareholders

 

TORONTO: December 17, 2018.  Pure Nickel Inc. (TSXV: NIC) (the “Company”) announces it has postponed its Annual General and Special Meeting of the Shareholders originally scheduled for December 18, 2018 and has rescheduled the meeting to January 11, 2019 at 10:00 am ET.  The record date for voting at the meeting remains November 13, 2018.

The Company has postponed the meeting as it intends to provide shareholders with additional information regarding certain business to be conducted at the meeting to assist shareholders in making an informed voting decision. In particular, the Company intends to provide shareholders with additional information regarding the proposed sale of its royalty interest in the Milford copper project. Shareholder voting will continue to be open until 48 hours (excluding Saturdays, Sunday and holidays) prior to the time of the rescheduled meeting.

About Pure Nickel Inc.
Pure Nickel is a mineral exploration company with a diverse collection of gold, nickel, copper and platinum group element exploration projects in North America.

Forward Looking Statements
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Pure Nickel are forward-looking statements that involve various risks. The following are important factors that could cause Pure Nickel’s actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Pure Nickel undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Pure Nickel Inc.
David McPherson

T. (416) 644-0066

www.purenickel.com  

 
#September 05, 2018
Pure Nickel Corporate Update

 TORONTO: September 5, 2018. Pure Nickel Inc. (TSXV: NIC) (the "Company") is announces the following corporate updates.

Sale of Royalty

The Company has reached agreement to sell its royalty interest in a copper mine located in Milford, Utah (the "Royalty") to David McPherson, the President and CEO of the Company. Under the terms of the agreement, the Company's wholly-owned Subsidiary, Nevada Star Resources Corp. (US), will sell all of its rights to the royalty to a company (the "Purchaser") wholly-owned by Mr. McPherson for consideration of CDN$660,759 (the "Purchase Price"). The Purchase Price which will be satisfied through the issuance by the Purchaser to Nevada Star of a secured promissory note (the "Note") in the principal amount of the Purchase Price. Mr. McPherson has provided a limited recourse guarantee to guarantee all of the obligations of the Purchaser under the Note. Recourse under the guarantee is limited to the entitlements of Mr. McPherson under the Transition Agreement dated May 26, 2017 between Mr. McPherson and the Company, which provides for the payment to Mr. McPherson of past-due management fees in the amount of CDN$778,000 and Mr. McPherson's transition from management of the Company. As security for his obligations under the guarantee, Mr. McPherson has agreed to assign all of his rights in the Transaction Agreement, including the payments due to Mr. McPherson thereunder, to Nevada Star. Currently the Royalty is carried on Pure Nickel's balance sheet at CDN $451,758.

The principal amount of the Note is payable by the Purchaser from time to time upon receipt by the Purchaser of payments under the Royalty. The Note provides that the any obligation to repay principal outstanding under the Note shall be automatically set off against any amounts owing to Mr. McPherson under the Transaction Agreement.

The sale of the Royalty is a related party transaction for the Company pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions ("MI 61-101") as the sale is being made to a corporation wholly-owned by an officer and director of the Company. In accordance with MI 61-101, the sale of the Royalty must be approved by a majority of the minority shareholders of the Company. The Company will be relying on an exemption from the requirement under MI 61-101 to obtain a formal valuation in respect of the sale available to issuers that are not listed on the Toronto Stock Exchange or another senior exchange. In addition to shareholder approval, the sale of the Royalty will require the approval of the TSX Venture Exchange.

ASM /AGM

The Company is in the process of planning an annual and special meeting of the shareholders to be held on October 17, 2018. At the meeting the shareholders will be voting on the Company's name change, a share consolidation, the royalty sale, directors and other regulatory required matters.

About Pure Nickel Inc.

Pure Nickel is a mineral exploration company with a diverse collection of gold, nickel, copper and platinum group element exploration projects in North America.

Forward Looking Statements

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Pure Nickel are forward-looking statements that involve various risks. The following are important factors that could cause Pure Nickel's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Pure Nickel undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Pure Nickel Inc.
David McPherson
T. (416) 644-0066
info@purenickel.com
www.purenickel.com
 

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