FPX Nickel Announces Approval of Normal Course Issuer Bid
FPX Nickel Corp. (“FPX” or the “Company”) is pleased to announce that it has received approval from the TSX Venture Exchange (“TSXV”) to proceed with a normal course issuer bid (the “NCIB”). The NCIB will allow FPX Nickel to repurchase up to 6,774,218 common shares, representing approximately 5% of the Company’s issued and outstanding common shares.
The NCIB will commence on June 12, 2021, and will remain in effect until June 11, 2022, or such earlier date on which the Company has acquired the maximum number of shares permitted under the NCIB or otherwise decides to terminate the NCIB.
“We are pleased to have received approval to proceed with the normal course issuer bid,” commented Peter Bradshaw, FPX Nickel’s Interim CEO. “This NCIB reflects our confidence in the Company’s long-term prospects and our commitment to enhancing shareholder value.”
Under the NCIB, FPX Nickel may purchase common shares through the facilities of the TSXV at prevailing market prices. The actual number of shares that may be purchased and the timing of any purchases will be determined by FPX Nickel, subject to certain limits imposed by the TSXV.
FPX Nickel believes that the repurchase of common shares under the NCIB represents an attractive investment opportunity and is in the best interests of the Company and its shareholders. The Company’s strong balance sheet and cash position provide the flexibility to fund the NCIB while continuing to advance its flagship Decar Nickel District project in British Columbia.
Investors and shareholders should note that FPX Nickel’s decision to implement the NCIB does not reflect any change in the company’s growth prospects or business strategy. The Company remains focused on advancing the development of the Decar Nickel District, which is one of the largest undeveloped nickel resources in the world, with significant potential for further growth and value creation.
In concluding the announcement, Mr. Bradshaw stated: “We look forward to executing the normal course issuer bid and continuing to deliver value to our shareholders. With a strong project portfolio and a clear path to production, FPX Nickel is well-positioned to capitalize on the growing demand for nickel in the global market.”
For more information on FPX Nickel Corp. and the normal course issuer bid, please visit the Company’s website or contact Investor Relations at [email protected].
Contact Information:
Investor Relations
Email: [email protected]
Phone: 123-456-7890
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