Tartisan Nickel Corp. Closes $1,500,000 Flow-Through Financing at $0.24 per Share with a Thirteen Month Escrow Period

Rhea-AI Summary

Tartisan Nickel Corp (CSE: TN) (OTCQB: TTSRF) has completed a $1.5 million flow-through financing by issuing 6,250,000 shares at $0.24 per share. The shares are subject to a 13-month escrow period from the closing date. A 5% commission was paid to agents. The funds will be primarily used for exploration, development, and advancement of the company's flagship Kenbridge Nickel Project in Ontario's Kenora Mining District.

Positive

• Secured $1.5 million in new funding
• Flow-through financing structure provides tax benefits to investors

Negative

• 5% commission paid to agents reduces net proceeds
• 13-month share escrow period limits investor liquidity
• Share issuance may lead to dilution for existing shareholders

Toronto, Ontario--(Newsfile Corp. - November 25, 2024) - Tartisan Nickel Corp. (CSE: TN) (OTCQB: TTSRF) (FSE: 8TA) ("Tartisan" or the "Company") is pleased to announce that the Company has closed $1,500,000.00 in flow-through financing with a Thirteen-month escrow period. 6,250,000 flow-through shares of the Company have been issued at the price of $0.24 per share for an aggregate subscription price of $1,500,000. The flow through shares are subject to a thirteen ("13") month escrow period from the Closing date. A 5% commission was paid to agents.

The proceeds from the flow-through financing are primarily being used to fund the exploration, development, and advancement of the Company's flagship Kenbridge Nickel Project, Atikwa Lake Area, Kenora Mining District, Ontario.

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 Night Danger Turtle Pond project in northwestern Ontario.

Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange CSE: TN) (OTCQB: TTSRF) (FSE: 8TA). Currently, there are 128,219,004 shares outstanding (133,719,004 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.sedarplus.ca.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231250

FAQ

How much did Tartisan Nickel Corp (TTSRF) raise in its latest flow-through financing?

Tartisan Nickel Corp raised $1.5 million through flow-through financing at $0.24 per share.

What is the escrow period for Tartisan Nickel's (TTSRF) November 2024 flow-through shares?

The flow-through shares are subject to a 13-month escrow period from the closing date.

What will Tartisan Nickel (TTSRF) use the $1.5M flow-through financing proceeds for?

The proceeds will primarily fund exploration, development, and advancement of the company's Kenbridge Nickel Project in Ontario's Kenora Mining District.