FPX Nickel Corp. is pleased to announce that it has entered into a subscription agreement for a private placement financing with a new cornerstone strategic investor, Sumitomo Metal Mining Canada Ltd. , a wholly-owned subsidiary of Sumitomo Metal Mining Co., Ltd. . Under the terms of the Private Placement, FPX will issue 30,104,488 common shares in the capital of the Company to SMCL at a price of $0.48 per Private Placement Common Share, for gross proceeds of $14,450,154. Upon completion of the Private Placement, SMCL will own 9.9% of FPX's issued and outstanding common shares on a non-diluted basis. "This strategic investment by Sumitomo Metal Mining represents another significant technical validation of FPX's Baptiste Nickel Project , and underscores our view that Baptiste ...