Mining Stock Education

FPX Nickel (TSX-V: FPX, OTCQB: FPOCF) just announced and closed a $16 million strategic equity investment from major global stainless steel producer Outokumpu. FPX has issued 26,800,000 common shares in the capital of the company to Outokumpu at a price of C$0.60 per common share, for gross proceeds of C$16,080,000. Upon completion of the private placement, Outokumpu now owns approximately 9.9% of FPX’s issued and outstanding common shares on a non-diluted basis. CEO Martin Turenne stated: ““This strategic investment by Outokumpu represents a significant technical validation of FPX’s Baptiste Nickel Project, and underscores Canada’s critical role as a supplier of choice to allied industrial partners in Europe and the United States, Outokumpu is a large and highly-regarded global operator, with a robust track record of producing the world’s most sustainable stainless steel, and is one of the largest single consumers of nickel in the world. Our partnership with Outokumpu testifies to Baptiste’s potential to pr