Tartisan Nickel closes $1-million financing

Executive Summary

• Tartisan Nickel Corp. has closed a flow-through financing raising gross proceeds of $1,000,000.
• The capital will be used for eligible Canadian exploration expenses (CEE) at the Kenbridge nickel-copper-cobalt project in Northwestern Ontario.
• The company is advancing borehole geophysics at Kenbridge while pausing drilling activities during the spring melt.

Key Details

• Transaction Type: Flow-through financing.
• Gross Proceeds: $1,000,000.
• Share Price: $0.38 per share.
• Shares Issued: Approximately 2,631,579 shares (calculated as $1,000,000 / $0.38).
• Commissions:
  • 6% commission paid in shares: 157,895 shares.
  • 6% commission paid in broker warrants: 157,895 broker warrants.
• Warrant Terms: The broker warrants expire one year from the date of the transaction.
• Use of Proceeds: To incur eligible Canadian exploration expenses (CEE) renounced to subscribers, directed toward continued exploration and development at the Kenbridge project.
• Operational Update: Advancing borehole geophysics at Kenbridge; pausing drilling during spring melt.
• Outstanding Shares: 155,005,114 common shares outstanding (159,234,724 fully diluted).

Notable Quotes

• "We are pleased to have successfully closed this financing and to be advancing borehole geophysics at Kenbridge while we take a pause from drilling during the spring melt." — Mark Appleby, President and CEO