- Michael Gentile acquires 4,800,000 units of NorthX Nickel Corp (NXNIF, Financial).
- Post-acquisition, Gentile holds 8.75% of NorthX on an undiluted basis.
- The investment is considered long-term with potential for future transactions.
Michael Gentile has announced the acquisition of 4,800,000 units of NorthX Nickel Corp (NXNIF) through the conversion of subscription receipts. Each unit includes one common share and one warrant, with the warrants exercisable at $0.075 per share for 36 months.
Following this acquisition, Gentile now owns 8.75% of NorthX's outstanding shares on an undiluted basis and 16.09% on a partially diluted basis. This strategic investment aligns with a long-term outlook, and Gentile has indicated the possibility of further transactions based on market conditions.
The acquisition was made for investment purposes, with a focus on retaining flexibility for future acquisitions or dispositions of shares, either through market transactions or private arrangements, contingent on evolving market dynamics and other influencing factors.
