VANCOUVER, BC, Dec. 3, 2024
/CNW/ - FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) ("FPX
Nickel" or the "Company") is pleased to announce that it
has received approval from the TSX Venture Exchange
(the "Exchange") to proceed with its Normal Course
Issuer Bid (the "NCIB") previously announced on December 2, 2024.
Under the NCIB, the Company may acquire up to 5,000,000 common
shares ("Common Shares"), representing approximately 2% of
the current public float of the Common Shares, over the 12-month
period commencing December 5, 2024,
and ending on December 5, 2025.
Purchases of Common Shares will be carried out in the open
market through the facilities of the Exchange, in compliance with
regulatory requirements at the prevailing market price of the
Common Shares at the time of acquisition. The actual number of
Common Shares that may be purchased for cancellation and the timing
of any such purchases will be determined by the Company and
dependent on market conditions. The NCIB will be conducted through
Cormark Securities Inc. and made in accordance with the policies of
the Exchange.
The funding for any purchases pursuant to the NCIB will be from
the available funds of the Company. To the Company's knowledge,
none of the directors, senior officers, or other insiders of the
Company, has any present intention to sell any Common Shares during
the course of the NCIB. During the past 12 months, no Common Shares
were purchased by the Company.
The Company is commencing the NCIB because it believes that the
market price of its Common Shares is undervalued and does not
reflect the value of the Company's assets and future prospects and
that the purchase of Common Shares under the NCIB is in the best
interest of the Company, a desirable use of its available cash, and
will enhance shareholder value in general.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and
development of the Baptiste Nickel Project, located in central
British Columbia, and other
occurrences of the same unique style of naturally occurring
nickel-iron alloy mineralization known as awaruite. For more
information, please view the Company's website at
https://fpxnickel.com/ or contact Martin Turenne, President and CEO, at (604)
681-8600 or ceo@fpxnickel.com.
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne, President, CEO and
Director
Email: ceo@fpxnickel.com
Phone: 604-681-8600
Forward-Looking Statements
Certain of the statements made and information contained
herein is considered "forward-looking information" within the
meaning of applicable Canadian securities laws. These statements
address future events and conditions and so involve inherent risks
and uncertainties, as disclosed in the Company's periodic filings
with Canadian securities regulators. Actual results could differ
from those currently projected. The Company does not assume the
obligation to update any forward-looking statement.
Certain information contained in this press release may
constitute forward-looking information under applicable securities
laws, including statements related to the Company's NCIB, including
the dates and duration of the NCIB and the purchases of Common
Shares made thereunder, the continued advancement of Baptiste, and
driving additional value to shareholders, advancing global
exploration joint venture and other statements that are not
historical facts. Often but not always, forward-looking statements
can be identified by the use of forward-looking terminology such as
"may", "will", "expect", "believe", "estimate", "plan", "could",
"should", "would", "outlook", "forecast", "anticipate", "foresee",
"continue" or the negative of these terms or variations of them or
similar terminology. This information is based on management's
reasonable assumptions and beliefs in light of the information
currently available to us and are made as of the date of this press
release.
Many factors could cause our actual results, level of
activity, performance or achievements or future events or
developments to differ materially from those expressed or implied
by the forward-looking statements, including, without limitation,
the factors discussed in the "Risk Factors" section of the
Company's annual information form dated April 26, 2024 for the year ended December 31, 2023 (the "AIF"). A copy of the AIF
and the Company's other publicly filed documents which can be
accessed under the Company's profile on SEDAR+ at
www.sedarplus.ca. In addition, there can be no assurance that
the Company will repurchase all or any of the Common Shares
referred to in this press release under the NCIB. In particular,
the purchase by the Company of Common Shares pursuant to the NCIB
will depend, among others, on the prevailing market price from time
to time of the Common Shares. There can also be no certainty
that purchases of Common shares under the NCIB will achieve the
desired objectives. In addition, the Company's expectations
with respect to Baptiste may be different than anticipated.
The Company cautions that the list of risk factors and
uncertainties described in the AIF and the Company's other publicly
filed documents is not exhaustive and other factors could also
adversely affect its results. Readers are urged to consider the
risks, uncertainties and assumptions carefully in evaluating the
forward-looking information and are cautioned not to place undue
reliance on such information. The forward-looking information
contained in this press release represents our expectations as of
the date of this press release (or as the date they are otherwise
stated to be made), and are subject to change after such date.
However, we disclaim any intention or obligation or undertaking to
update or revise any forward-looking information whether as a
result of new information, future events or otherwise, except as
required under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
SOURCE FPX Nickel Corp.