Flying Nickel Mining (TSXV: FLYN; OTCQB: FLYNF) and Norway House Cree Nation (NHCN) have signed a binding letter of intent dated July 21, 2024. Flying Nickel plans to sell its Minago nickel project, located in the Thompson nickel belt of Manitoba, to NHCN.
In exchange for the Minago assets, NHCN will give up all its shares in Flying Nickel. The deal will be either $7.3 million in cash and approximately 31 million Flying Nickel shares (35.2%), or $8 million in cash and 17.6 million shares (19.9%).
The Minago project is is one of the world's largest high-grade open pit optimized platinum nickel sulphide deposits. Flying Nickel aims to supply the electric vehicle industry with high-performance battery ingredients that are 100% made in Canada with low carbon emissions.
For more information, visit www.FlyNickel.com.
October 17, 2024
Comments
brent hoard
How much of this would go to its members? or would it be another thing the chief and council would keep to themselves? or say the money would be put towards our community? As a member of NHCN, I have not received a dime for anything, so if money and shares are going to be given i would like my share given to me instead of the band.