VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 1, 2017) - Finore Mining Inc. ("Finore" or the "Company") (CSE:FIN)(CSE:FIN.CN)(OTC PINK:FNREF) announces that further to its press release of October 21, 2016, the Company has entered into a Share Purchase Agreement dated January 31, 2017 (the "Agreement') with Nickel One Resources Inc., ("Nickel One") a public company listed on the TSX Venture Exchange (the "Exchange"), in connection with the acquisition by Nickel One (the "Transaction") of all of the issued and outstanding shares of Nortec Minerals Oy, a wholly owned subsidiary of Finore which holds a 100-per-cent interest in the Lantinen Kollismaa platinum-group-element-copper project located in north-central Finland.
Pursuant to the terms of the Agreement, and subject to approval of the Exchange, upon closing the Transaction, Nickel One will, among other things, issue to Finore 5,000,000 common shares in the capital of Nickel One and issue 2,500,000 common share purchase warrants exercisable at a price of $0.12 per Nickel One common share for a period of 24 months from the date of closing the Transaction.
All securities issued in connection with the Transaction will be subject to a hold period of four months and a day pursuant to applicable securities laws. Closing of the Transaction remains subject to certain closing conditions, including, obtaining all necessary approvals, including, approval of the Exchange. There can be no assurance that the Transaction will be completed as proposed or at all.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.