Pure Nickel Responds to TSX Bulletin
TORONTO, Sept. 9, 2013 (GLOBE NEWSWIRE) -- Pure Nickel Inc. (TSX:NIC) (the "Company") provides additional information on today's TSX bulletin. On May 7, 2013 the TSX issued a bulletin indicating it was reviewing the common shares of the Company with respect to meeting the continued listing requirement based on the criteria that the market capitalization of the Company did not meet the exchange's minimum threshold. The Company was granted 120 days to comply. To that end, given the resource market has not recovered over the summer months, and the Company's market capitalization is still below the TSX's threshold, today's bulletin was issued. Pure Nickel currently meets all of the listing criteria save for the market capitalization requirement.
The Company has made use of the streamlined listing procedure to move to the TSX Venture Exchange ("TSX Venture"). The TSX Venture has granted the Company conditional approval to list on the exchange and the Company anticipates transitioning to the TSX Venture in early October with no disruption in the trading of NIC.
Pure Nickel continues to be in a strong financial position and operational position with $2.4 million in working capital and active exploration projects in Alaska and Manitoba.
About Pure Nickel Inc.
Pure Nickel is a TSX listed mineral exploration company with a premium collection of properties in North America. The Company is currently active on its two Alaskan properties, MAN and Salt Chuck, as well as on the William Lake nickel project in Manitoba. Drilling has recently concluded on the MAN project and assays are pending.
Forward Looking Statements
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Pure Nickel are forward-looking statements that involve various risks. The following are important factors that could cause Pure Nickel's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Pure Nickel undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Contact
For further information:
CHF Investor Relations
Cathy Hume
T. (416) 868-1079 x 231
cathy@chfir.com
www.chfir.com
The Howard Group
Jeff Walker
T. (888) 221-0915
info@howardgroupinc.com
www.howardgroupinc.com
Pure Nickel Inc.
David McPherson
T. (416) 644-0066
info@purenickel.com
www.purenickel.com