Friedland, McEwen back Power Nickel’s “oversubscribed” $15m funding – by Cecilia Jamasmie ( – June 24, 2024)

Canadian explorer Power Nickel (TSX-V: PNPN) has closed its recent C$20 million ($15m) “oversubscribed” financing round, backed by well-known personalities including billionaire investor Robert Friedland and mining veteran Rob McEwen.

The Toronto-based junior said the funds will be use to expand exploration on its 80%-owned NISK property in Quebec, adding it hopes to take advantage of Canada’s federal tax credit for critical mineral exploration.

Power Nickel, which entered the project in 2021, noted it plans to deploy additional drilling rigs and advance exploration over the summer. NISK, in Quebec’s James Bay region, is expected to become Canada’s first carbon-neutral nickel mine by using carbon capture and hydroelectric power.

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