RE:Norway House Cree Nation increasing their stakeDoes this mean that Norway House will have at least a 30% beneficial ownership in the company now? Aug 14, 2023 PP $680,000
Norway House Cree Nation (NHCN) was the sole investor. As a result of the offering, NHCN owns approximately 9.7 per cent Flying Nickel's common shares.
The offering does not affect terms of the March, 2023, impact benefit agreement between the company and NHCN, which entitles NHCN to purchase an additional 10 per cent of Flying Nickel's common shares in the future.
Aug 28, 2023
As a result of the Offering, NHCN will own approximately 18.1% of Flying Nickel's common shares. NHCN is entitled to purchase additional Flying Nickel common shares to maintain its equity ownership interest percentage in Flying Nickel immediately prior to any future dilution event pursuant to the March 2023 Impact and Benefit Agreement between the Company and NHCN.