Toronto, Ontario--(Newsfile Corp. - August 15, 2022) - Tartisan Nickel Corp. (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA) ("Tartisan", or the "Company") announces its intention to commence a normal course issuer bid ("NCIB"), under which the Company may purchase up to 5,446,125 of the Company's common shares, representing approximately 5% of the issued and outstanding common shares of the Company.
Tartisan is commencing the "NCIB" because the Company's management believes that the underlying value of the Kenbridge Nickel Project which has a Mineral Resource Estimate and Preliminary Economic Assessment, along with the Company's assets as a whole, are not adequately reflected in the market price of Tartisan's common shares. Tartisan Nickel Corp. believes that the repurchase of its common shares for cancellation represents an appropriate use of the Company's financial resources and will enhance shareholder value.
The "NCIB" is expected to commence on August 22, 2022 and terminate on August 21, 2023. All common shares purchased under the "NCIB" will be purchased on the open market through the facilities of the Canadian Securities Exchange (the "CSE") and/or alternative trading systems. All purchases made under the "NCIB" will be at the prevailing market price for the common shares at the time of purchase. Common shares acquired by the Company under the "NCIB" will be cancelled. Tartisan Nickel Corp. has appointed Independent Trading Group (ITG) Limited as its broker to conduct the "NCIB" purchases on its behalf.
About Tartisan Nickel Corp.
Tartisan Nickel Corp. is a Canadian based mineral exploration and development company which owns; the Kenbridge Nickel Project in Northwestern Ontario, the Sill Lake Lead-Silver Project in Sault St. Marie, Ontario as well as the Don Pancho Manganese-Zinc-Lead-Silver Project in Peru.
Tartisan Nickel Corp.'s common shares are listed on the Canadian Securities Exchange (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA). Currently, there are 108,922,503 shares outstanding (120,218,018 fully diluted).
For further information, please contact Mark Appleby, President & CEO and a Director of the Company, at 416-804-0280 (email@example.com). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
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