On August 16, 2024, Flying Nickel Mining Corp. completed the acquisition of Nevada Vanadium Mining Corp., a Nevada-based company focused on the Gibellini Vanadium Project, through a plan of arrangement under the Business Corporations Act (British Columbia). This transaction, executed under an arrangement agreement dated October 6, 2022, involved issuing 65,893,359 common shares of Flying Nickel to Nevada Vanadium shareholders on a 1:1 share exchange ratio. As part of the transaction, 5,150,000 shares were set aside for Nevada Vanadium options and 10,823,139 for warrants, exercisable upon settlement.

Upon completion, Nevada Vanadium became a wholly-owned subsidiary of Flying Nickel, combining their operations for strategic growth within the vanadium sector. Nevada Vanadium holds significant assets in the Gibellini, Bisoni, and Louie Hill vanadium deposits in Nevada, USA, bolstering Flying Nickel’s resource portfolio. No valuation opinions were acquired within the past year to support this transaction, and the combined entity has no immediate plans for major operational changes.

MLT Aikins LLP advised on Canadian legal matters, while Dorsey & Whitney LLP handled U.S. legal matters for both companies in connection with the arrangement.