VANCOUVER, BC, Aug. 1, 2024
/CNW/ - FPX Nickel Corp. (TSXV: FPX) (OTCQB:
FPOCF) ("FPX Nickel" or the "Company") is
pleased to announce that it has engaged the services of ICP
Securities Inc. ("ICP") to provide market making services
(the "Services"), including use of its proprietary algorithm, ICP
PremiumTM, in compliance with the policies and
guidelines of the TSX Venture Exchange (the "Exchange") and
other applicable legislation.
Pursuant to the market-making agreement (the "Agreement")
entered into between the Company and ICP, in exchange for providing
the Services, ICP will receive a fee of C$7,500 plus applicable taxes per month, payable
monthly in advance, to be paid from funds the Company has allocated
from its current working capital. The Agreement is for an initial
term of four (4) months (the "Initial Term") and shall be
automatically renewed for subsequent one (1) month terms (each
subsequent one-month term called an "Additional Term")
unless either party provides at least thirty (30) days written
notice prior to the end of the Initial Term or an Additional Term,
as applicable. ICP does not have any interest, directly or
indirectly, in FPX Nickel or its securities or any right or intent
to acquire such an interest at this time; however, ICP and its
clients may acquire an interest in the securities of the Company in
the future. There are no performance factors contained in the
agreement and no stock options or other compensation are being
granted in connection with the engagement.
ICP is an arm's length party to the Company. ICP's market making
activity will be primarily to correct temporary imbalances in the
supply and demand of the Company's shares. ICP will be responsible
for the costs it incurs in buying and selling the Company's shares,
and no third party will be providing funds or securities for the
market making activities.
ICP Securities Inc.
ICP Securities Inc. (ICP) is a Toronto-based CIRO dealer-member that
specializes in automated market making and liquidity provision, as
well as having a proprietary market making algorithm, ICP
PremiumTM, that enhances liquidity and quote health.
Established in 2023, with a focus on market structure, execution,
and trading, ICP has leveraged its own proprietary technology to
deliver high quality liquidity provision and execution services to
a broad array of public issuers and institutional investors.
About the Decar Nickel District
The Company's Baptiste Nickel Project represents a large-scale
greenfield discovery of nickel mineralization in the form of a
sulphur-free, nickel-iron mineral called awaruite
(Ni3Fe) hosted in an ultramafic/ophiolite complex. The
Baptiste mineral claims cover an area of 408 km2, west
of Middle River and north of
Trembleur Lake, in central British
Columbia. In addition to the Baptiste Deposit
itself, awaruite mineralization has been confirmed through
drilling at several target areas within the same claims package,
most notably at the Van Target which is located 6 km to the north
of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and
development of Baptiste.
The Baptiste Deposit is located within the Baptiste Creek
watershed, on the traditional territories of the Tl'azt'en Nation
and the Binche Whut'en, and within several Tl'azt'enne and Binche
Whut'enne keyohs. FPX has conducted mineral exploration activities
to date subject to the conditions of agreements with First Nations
and keyoh holders.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development
of the Decar Nickel District, located in central British Columbia, and other occurrences of the
same distinctive style of awaruite nickel-iron
mineralization.
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne, President, CEO and
Director
Email: ceo@fpxnickel.com
Phone: 604-681-8600
Forward-Looking Statements
Certain of the statements made and information contained
herein is considered "forward-looking information" within the
meaning of applicable Canadian securities laws. These statements
address future events and conditions and so involve inherent risks
and uncertainties, as disclosed in the Company's periodic filings
with Canadian securities regulators. Actual results could differ
materially from those currently projected by management at the time
of writing due to many factors the majority of which are beyond the
control of FPX and its management. In particular, this news release
contains forward-looking statements pertaining, directly or
indirectly, to the following: the duration of the Services and the
frequency of any trades in connection with the Services. These
statements speak only as of the date of this release or as of the
date specified in the documents accompanying this release, as the
case may be. The Company assumes the obligation to update any
forward-looking statement except as expressly required by
applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
SOURCE FPX Nickel Corp.
