Company's share price appreciated 365% in
2024
TORONTO, Feb. 20,
2025 /CNW/ - Power Nickel Inc. (the
"Company" or "Power Nickel") (TSXV: PNPN) (OTCBB:
PNPNF) (Frankfurt IVV), is pleased to announce that it
has been recognized as one of the 2024 top 50 performers on the TSX
Venture Exchange ("TSXV"), with an outstanding 365% share price
appreciation in 2024. The Company was ranked the top mining company
and fourth overall.
The 50 companies on the list delivered an average share price
appreciation of 207% to investors in 2024, up from 121% in 2023 and
73% in 2022. In addition, the group holds a combined market
capitalization of $21.7 billion, an
increase of over $16 billion over the
course of the year.
The 2024 TSX Venture 50 showcases the top 50 of over 1,600
TSXV issuers. Eligible listed issuers are ranked based on three
equally weighted criteria of one-year share price appreciation,
market capitalization increase, and Canadian consolidated trading
value as of December 31, 2024.
More details can be found at the following
link: https://money.tmx.com/en/venture50.
Terry Lynch, Director & CEO
of Power Nickel commented: "We are very proud to be recognized as a
Top 50 TSX Venture Exchange Performer for 2024. Finally, a great
year for our most deserving shareholders! Last year we proved the
Lion Zone was something special, 2024 was a great run but we are
looking forward to doing better 2025. We are fully funded and
doubling our exploration programs and if you asked our tremendous
scientific team I think they would all feel this Discovery is just
getting going.
About Power Nickel
Power Nickel is a Canadian junior exploration company focusing
on developing the High-Grade Nickel Nisk project
into Canada's first Carbon Neutral nickel mine.
On February 1, 2021, Power Nickel (then called Chilean
Metals) completed the acquisition of its option to acquire up to
80% of the Nisk project from Critical Elements Lithium Corp. (CRE:
TSXV).
The NISK property comprises a large land position (20 kilometres
of strike length) with numerous high-grade intercepts. Power Nickel
is focused on expanding the historical high-grade nickel-copper PGM
mineralization with a series of drill programs designed to test the
initial Nisk discovery zone and to explore the land package for
adjacent potential Nickel deposits.
On Feb 21 Power Nickel will
officially change its name to Power Metallic Mines Inc.
In addition to the Nisk project, Power Nickel owns significant
land packages in British Colombia
and Chile. Power Nickel has
reorganized these assets in a related public vehicle through a plan
of arrangement.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding Forward-Looking Statements
This message contains certain statements that may be deemed
"forward-looking statements" concerning the Company within the
meaning of applicable securities laws. Forward-looking statements
are statements that are not historical facts and are generally, but
not always, identified by the words "expects," "plans,"
"anticipates," "believes," "intends," "estimates," "projects,"
"potential," "indicates," "opportunity," "possible" and similar
expressions, or that events or conditions "will," "would," "may,"
"could" or "should" occur. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, are subject to risks and uncertainties, and
actual results or realities may differ materially from those in the
forward-looking statements. Such material risks and uncertainties
include, but are not limited to, among others, the timing to close
the financing of FT Units; the timing for various drilling plans;
the ability to raise sufficient capital to fund its obligations
under its property agreements going forward and conduct drilling
and exploration; to maintain its mineral tenures and concessions in
good standing; to explore and develop its projects; changes in
economic conditions or financial markets; the inherent hazards
associates with mineral exploration and mining operations; future
prices of nickel and other metals; changes in general economic
conditions; accuracy of mineral resource and reserve estimates; the
potential for new discoveries; the ability of the Company to obtain
the necessary permits and consents required to explore, drill and
develop the projects and if accepted, to obtain such licenses and
approvals in a timely fashion relative to the Company's plans and
business objectives for the applicable project; the general ability
of the Company to monetize its mineral resources; and changes
in environmental and other laws or regulations that could have an
impact on the Company's operations, compliance with environmental
laws and regulations, dependence on key management personnel and
general competition in the mining industry.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/power-nickel-recognized-as-a-2024-top-50-performer-on-the-tsx-venture-exchange-and-ranked-1-mining-company-302380979.html
SOURCE Power Nickel Inc.
