Mon, 06 Dec 2021

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TORONTO, ON / ACCESSWIRE / November 22, 2021 / EV Nickel Inc. ('EV Nickel' or the 'Company') is pleased to announce that on Friday, November 19, 2021, it obtained a receipt for a final prospectus (the 'Final Prospectus') from the securities regulatory authorities in each of the provinces of Canada except Québec, in connection with its initial public offering (the 'Offering') of units of the Company (the 'Offered Units') at a price of $0.75 per Offered Unit and common shares of the Company (the 'Common Shares') which will each qualify as a 'flow-through share' as defined in subsection 66(15) of the Tax Act (as defined herein) (the 'FT Shares', together with the Offered Units, the 'Offered Securities'), at a purchase price of $0.86‎ per FT Share, to raise minimum gross proceeds of $5,000,000 and maximum gross proceeds of $5,500,000.

The Offering is completed on a 'commercially reasonable efforts' basis through a syndicate of agents led by Echelon Wealth Partners Inc., as lead agent and sole bookrunner, and including Stifel Nicolaus Canada Inc., Cormark Securities Inc. and Canaccord Genuity Corp. (collectively, the 'Agents').

The ‎Company has granted the Agents an over-allotment option (the 'Over-Allotment Option'), ‎exercisable in whole or in part, at the sole discretion of the Agents, at any time and from time to time, ‎for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the ‎Offered Securities.

Dentons Canada LLP is acting as legal counsel to EV Nickel and Bayline Capital Partners Inc. is acting as Capital Market Advisors to EV Nickel.

Each Offered Unit will consist of one Common Share (an 'Offered Share') and ‎one Common Share purchase warrant of the Company (an 'Offered Warrant'). ‎Each Offered Warrant will entitle the holder to purchase one Common Share ('Warrant Share') at an exercise price of $1.05 per Warrant Share at any time for a period of 24 months following the closing of the Offering (the 'Closing'). Each Offered Unit will separate into Common Shares and Offered Warrants immediately upon Closing.

EV Nickel is a Canadian nickel exploration company, focussed on the Shaw Dome area, south of Timmins, Ontario (the 'Shaw Dome'). The Shaw Dome is home to its Langmuir project which includes W4, the basis of a 2010 historical estimate of 677K tonnes @ 1% Ni, ~15M lbs of Class 1 Nickel (the 'Langmuir Project'). EV Nickel's objective is to grow and advance a nickel business, targeting the growing demand for Class 1 Nickel, from the electric vehicle battery sector. EV Nickel has almost 9,100 hectares to explore across the Shaw Dome and has identified 30km of additional strike length.

The Company's technical report on the Langmuir Project filed on SEDAR on May 25, 2021, entitled 'Independent NI 43-101 Technical Report on the Langmuir Nickel Project' (the 'Technical Report') has been amended and refiled on November 16, 2021 in response to the review by the Ontario Securities Commission of the Company's preliminary prospectus. The revised Technical Report has an effective date of July 25, 2021 and report date of August 5, 2021. The disclosure in the Final Prospectus relating to the Langmuir Project is based on the revised Technical Report. Copies of the Final Prospectus and Technical Report are available under the Company's profile at www.sedar.com.

The Offering is expected to close on or about November 25, 2021 and is subject to certain conditions including, but not limited to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the 'TSXV').

Subject to fulfilling customary requirements, the TSXV conditionally approved the listing of the Common Shares (including the Offered Shares, FT Shares and the Warrant Shares) on the TSXV under the symbol 'EVNI'.

Important Notice

The Final Prospectus contains important information relating to the Offered Securities and the Offering and has been filed with securities commissions or similar authorities in each of the provinces of Canada except Québec. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or acceptance of an offer to buy these securities in any province or territory of Canada prior to the time a receipt for the Final Prospectus of the Company or other authorization is obtained from the securities commission or similar authority in such province or territory. Copies of the Final Prospectus may be obtained from one of the Agents or under the Company's profile on SEDAR at www.sedar.com.

None of the Offered Units, Offered Shares, Offered Warrants, FT Shares, or Warrant Shares have been or will be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or the securities laws of any state of the United States. Accordingly, the Offered Units or FT Shares may not be offered, sold or delivered, directly or indirectly, in the United States or to United States persons unless registered under the U.S. Securities Act and applicable state securities laws, except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as 'proposed', 'expects', 'intends', 'may', 'will', and similar expressions. Forward-looking information contained or referred to in this press release includes, but may not be limited to, the details of the Offering; completion of the Offering; the listing of the Common Shares on the TSXV; the use of the net proceeds of the Offering; and the business of EV Nickel.

Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although EV Nickel believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to, negotiations with the Agents concerning the particulars of the Offering; inability to raise the money necessary to complete the Offering; the listing or other conditions imposed by the TSXV for the listing of the Common Shares; and other regulatory approvals required for the Closing of the Offering. The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of EV Nickel based on information currently available to the Company.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement.

Contact Information

For further information, contact: Sean Samson, Chief Executive Officer at samson@evnickel.com

EV Nickel Inc.
200-150 King St. W,
Toronto, ON M5H 1J9
www.evnickel.com

SOURCE: EV Nickel Inc.



View source version on accesswire.com:
https://www.accesswire.com/674270/EV-Nickel-Inc-Files-Final-Prospectus-for-Initial-Public-Offering

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