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Hard Creek Nickel (TSXV:HNC) announced that it will change its name to Giga Metals Corporation

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The company intends to become a minerals company offering direct exposure to nickel, cobalt, and possibly other integral raw materials in electric vehicle and battery energy storage markets.

Additional Information:

Company: Hard Creek Nickel
Website: http://www.hardcreek.com
Stock Symbol: TSXV: HNC
Date Published: Aug 17, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Hard Creek Nickel announced that it will change its name to Giga Metals Corporation to better reflect the company’s new direction.

The company intends to become a minerals company offering direct exposure to nickel, cobalt, and possibly other integral raw materials in electric vehicle and battery energy storage markets.

The company’s Turnagain project represents a significant nickel-cobalt resource and serves as a core project for the company’s new business focus.

The Turnagain nickel property is situated immediately north of Turnagain River near its confluence with Hard Creek.

The community of Dease Lake, on highway 37 some 400 kilometres north of the port of Stewart, is 70 kilometres west of the property.

Increasing demand for electric vehicles is expected to drive investor demand for battery metals, particularly nickel and cobalt, which are important components in batteries.

The company is headed by President & CEO, Mark Jarvis, who has more than 25 years experience in exploration and development of mineral resources, both in oil and gas and metals.

Mark Jarvis, President & CEO, stated: “Our new name reflects our focus on the raw materials needed for modern electric batteries. Nickel is one of the principal materials in EV batteries. Cobalt, which is a significant by product of our Turnagain nickel deposit, is a second critical component of the batteries used in EVs. We are also actively looking for other acquisition opportunities in the battery metals space.”

The company announced a non-brokered private placement and plans to raise gross proceeds of up to $500,000 from the issuance of up to 8.3 million (8,333,334) units at a post consolidated price of $0.06 per unit.

Each unit consist of 1 share and 1 full warrant, with each warrant exercisable at $0.07 in the first 12 months, and $0.08 in the following 24 months.

Use of proceeds will be for general corporate purposes.

There are currently 43.1 million shares outstanding, which will drop to 21.55 shares outstanding following a 1 for 2 consolidation, prior to the private placement.

The shares are trading at $0.05 and based on 43.1 million shares outstanding, the company is capitalized at $2.2 million.

For more information, please visit the company’s website at www.hardcreek.com, contact Mark Jarvis, President and CEO, at 604-681-2300 or email info@hardcreek.com.

I’m Samantha Deutscher for Investmentpitch Media