07:46 AM EST, 02/03/2025 (MT Newswires) -- Power Nickel ( PNPNF ) on Monday said it completed the spinout of the Golden Ivan Property and certain Chilean assets and liabilities to its shareholders through Chilean Metals.

"We are excited about the future at Chilean even while we remain focused on advancing our exploration at Nisk," said Power Nickel ( PNPNF ) Chief Executive and Chilean Metals Director, Terry Lynch.

Power Nickel ( PNPNF ) will continue to focus on the advancement of the Nisk project, and Chilean Metals will focus on advancing the Golden Ivan property and the Chilean assets.

The New Power Nickel Shares will continue to trade on the TSX Venture Exchange (TSXV) in Canada, on the OTC Market in the United States and on the Frankfurt Stock Exchange in Germany. Chilean Metals will not be listed on any stock exchange but will operate as a reporting issuer in British Columbia and Alberta and will comply with its continuous disclosure obligations under applicable securities laws.

Shares of PNPN closed down $0.16 or 10%, to $1.33 on Friday on the TSXV.