PNR Is Preferred Bidder In BCL Liquidation Process

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ThreeD Capital Inc., a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, has announced Premium Nickel Resources (PNR) has been selected as the preferred bidder in the BCL Liquidation Process.

ThreeD Capital owns 6,716,456 shares of PNR, representing a 9.13% ownership in the company. Furthermore, Sheldon Inwentash, Chairman & CEO of ThreeD Capital is on the Board of Directors of PNR.

In June 2020, PNR submitted an indicative offer to the BCL liquidation trustee (the ” Trustee “) to acquire the former producing Selebi-Phikwe, Tati-Phoenix and Tati-Selkirk mines as well as regional exploration joint ventures on highly prospective Ni-Cu-Co projects located in Botswana.

“As stated by Mr. Mmetla Masire, permanent secretary for the Ministry of Mineral Resources, Green Technology and Energy Security of Botswana, and subsequent to an independent technical evaluation on behalf of the Trustee, and a review by the Government of Botswana, PNR was selected as the preferred bidder to acquire the former BCL Ltd,” PNR said in a statement. 

“PNR would like to thank the Ministry of Mineral Resources, Green Technology & Energy Security, Botswana for publicly announcing that PNR was being awarded the Preferred Bidder status in Parliament last week, as has been widely reported in the global media. PNR will now complete the documentation with the Trustee to govern the six-month exclusivity period to complete due diligence on these assets. Concurrent with the due diligence during the Exclusivity Period, PNR will negotiate definitive agreements to finalize terms on the prioritized assets to be purchased.”

“PNR continues to monitor the global Covid-19 developments and is committed to working with health and safety as a priority and in full respect of all government and local Covid-19 protocol requirements. PNR has developed Covid-19 travel, living and working protocols in anticipation of moving forward to on site due diligence and is integrating these protocols with those of The Government of Botswana and surrounding communities.” (Source: ThreeD Capital Inc and Premium Nickel Resources)

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