Flying Nickel Mining has closed its acquisition of Canada’s Nevada Vanadium Mining, resulting in Nevada Vanadium becoming the former’s wholly owned subsidiary.
Shareholders of Nevada Vanadium obtained one common share of Flying Nickel for each share held.
The transaction led to the issuance of around 65.9 million Flying Nickel shares.
The board of directors for Flying Nickel post-merger now includes Greg Hall, Masa Igata, Neil Duboff and John Lee. Lee is CEO, Ron Espell is president, Robert Van Drunen is chief operating officer, Andrew Yau is chief financial officer, and Marion McGrath is corporate secretary.
Nevada Vanadium's board has been streamlined to one director, Greg Hall, and no officers have been appointed to date.
Flying Nickel is a mining company in the exploration stage, focusing on nickel sulphide and vanadium.
It is now developing its wholly owned Minago nickel project in Manitoba, Canada, as well as the Gibellini vanadium project in Nevada, US.
In July 2024 Flying Nickel Mining entered a binding letter of intent with Norway House Cree Nation (NHCN) to transfer its Minago Nickel project along with related assets and operations in Manitoba, Canada.
In exchange, NHCN agreed to relinquish all of its common shares in Flying Nickel.
NHCN currently owns 17,561,862 shares of Flying Nickel, which represents 19.9% of the company.
Blackstone Minerals and Sparta together hold 13,453,344 shares, amounting to 15.3% of Flying Nickel.
