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Nickel North Exploration to acquire all of Hawk Ridge

Keywords: Tags  Nickel North Exploration, Goldrock Resources, Anthem Resources, Hawk Ridge, Sinotech Minerals Exploration, nickel, copper

NEW YORK — Nickel North Exploration Corp. has undertaken a series of financing initiatives that will allow the company to take 100-percent ownership of the Hawk Ridge nickel-copper project in northern Quebec.

The Vancouver, British Columbia-based company arranged a Canadian $2-million ($1.97-million) private placement with Hong Kong-based Goldrock Resources Co. Ltd., a subsidiary of Beijing-based Sinotech Minerals Exploration Co. Ltd. and currently Nickel North’s largest shareholder.

Meanwhile, its second-largest shareholder, Anthem Resources Inc., Vancouver, will convert a C$1-million ($984,000) Hawk Ridge property payment into Nickel North common shares, giving Goldrock a 46.2-percent stake and Anthem a 23.2-percent stake in Nickel North.

Nickel North said the move will allow it to accelerate resource modeling and drill-target definition for Hawk Ridge.

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