Premium Nickel exceeds BCL revival target by P120m :: Mmegi Online

Premium Nickel Resources Limited (PNRL), the parent company overseeing the revitalisation of BCL Ltd assets, exceeded its C$15 million (P148.2 million) fundraising goal, securing C$27.5 million (P271.8 million) to revive asset mining operations. It surpassed its initial capital raise target through its local subsidiary by over C$12.1 million (P120 million).

The Canadian firm executives revealed in a statement recently that the capital raise was conducted through a private financial instrument where current investors are offered shares at a fixed rate. The above market expectation performance signals confidence for the copper market and hopes for the reopening of the BCL Mine.

“Premium Nickel Resources Ltd is pleased to announce that the company is upsizing its previously-announced non-brokered private placement offering of units of the company at a price of $0.78 per unit from approximately C$15 million to aggregate gross proceeds of up to approximately C$27.5 million, in response to very strong interest in the Offering, largely from the Company's existing shareholders. The company has received committed subscriptions for the entire C$27.5 million,” company executives revealed.

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