11:59 AM EST, 01/31/2025 (MT Newswires) -- (Updates shares.)

Power Nickel ( PNPNF ) said Friday the spinout of its Golden Ivan property and certain Chilean assets into Chilean Metals is expected to become effective Feb. 3.

Power Nickel ( PNPNF ) shareholders will receive one new share of Power Nickel ( PNPNF ) and 0.05 of one Chilean Metals share for each Power Nickel ( PNPNF ) share held.

Once the arrangement becomes effective, the new Power Nickel ( PNPNF ) shares will continue trading on the TSX Venture Exchange in Canada, on the OTC Market in the United States and on the Frankfurt Stock Exchange in Germany.

Chilean Metals' shares will not be listed on any stock exchange after closing but the spinout company will be a reporting issuer in British Columbia and Alberta.

Power Nickel ( PNPNF ) shares were last seen down $0.12 to $1.37 on the TSX Venture Exchange.

Price: 1.37, Change: -0.12, Percent Change: -8.05