FPX Nickel – Adding Another Strategic Investor; $14.4 Million Investment From Sumitomo Metal Mining, At Premium To Market
Martin Turenne, President and CEO of FPX Nickel (“FPX” or the “Company”) (TSX.V:FPX – OTCQB:FPOCF) joins me to recap the January 17th news release announcing a C$14.4million equity investment from Sumitomo Metal Mining (“Sumitomo”) into FPX. This investment is at a premium to the current FPX market price. Sumitomo will own 9.9% of the outstanding common shares on a non-diluted basis of FPX.
Martin first provides a background on Sumitomo. I then ask how this strategic investment fits with the 2 other strategic investments from other major mining companies. It’s all about continuing to de-risk the Decar Nickel District and expand project financing options for FPX. I also ask Martin why he thinks the market did not react to this financing news.
Please email me with any follow up questions you have for Martin. My email address is Fleck@kereport.com.