Power Metallic Mines Inc. (“PNPN”), formerly Power Nickel, has closed its private placement for gross proceeds of ~C$50m at a weighted average price of ~C$2.38/sh. The raise comprised of 14.1m flow-through shares (“FT shares”) issued at C$2.83/sh, a ~67% premium to the undisturbed share price, and 6.9m non-flow-through common shares (“HD shares”) issued at C$1.45/sh, a ~15% discount. Notable shareholders participating in the raise included Robert Friedland and Rob McEwen. The new funds will be u ....
