TORONTO, ON / ACCESSWIRE / October 16, 2023 / Power Nickel Inc. (the "Company" or "Power Nickel") (TSX-V:PNPN)(OTCQB:PNPNF)(Frankfurt:IVV) is pleased to announce a proposed private placement of $2.75 million in new equity capital to pursue exploration expansion at Nisk the Companies flagship Nickel PGM project near Nemiscau Quebec. The Company proposes the sale of 4,000,000 Flow-Through units (each an "FT UNIT") of the Company, at a price of $0.50 per FT Unit, for gross proceeds of $2,000,000 and a additional up to 3,000,000 non-flow-through units (each an "NFT Unit") at a price of $0.25 per NFT Unit for aggregate total proceeds of $2,750,000. The issue will be non brokered. The Company has received conditional TSX Venture Exchange ("TSXV") approval for the private placement. The Company expects to close the private placement in the coming days.