VANCOUVER, BC / ACCESSWIRE / February 2, 2017 / Nikos Explorations Ltd. (TSX-V: NIK) ("Nikos" or the "Company") is pleased to
announce the closing on February 2, 2017 of the second tranche of its non-brokered private placement (the "Private Placement")
announced in its news release dated December 2, 2016, raising gross proceeds of $310,000 from the issuance of 3,875,000 units (the
"Units") priced at $0.08 per Unit, bringing the total raised in two tranches to $546,550. Each Unit consisted of one common share
of the Company (a "Unit Share") and one common share purchase warrant entitling the holder thereof to purchase one additional
common share of the Company (a "Warrant Share") at a price of $0.13 per Warrant Share for a period of two years. The financing was
increased in size from an initial estimate of $412,500 due to investor demand.
Plethora Precious Metals Fund ("Plethora") subscribed for 3,125,000 Units and now holds an aggregate of 4,125,000 common shares
of the Company, or approximately 16.5% of the Company's issued and outstanding shares. Plethora also holds 4,125,000 warrants
entitling Plethora to acquire an additional 4,125,000 shares of the Company. Plethora has provided an undertaking to Nikos
confirming they will not exercise their Nikos warrants to the extent that such exercise would cause Plethora to hold 20% or more of
the Company's shares outstanding until Nikos obtains the necessary approval.
The Company raised $236,550 in the first tranche through the sale of 1,755,000 Units priced at $0.08 per Unit and 1,068,334
common shares on a flow-through basis (the "FT Shares") priced at $0.09 per FT Share, as announced in the Company's news release
dated December 23, 2016.
Finders' fees comprised of 271,250 common shares of the Company (the "Finders' Shares") were issued in connection with the
second tranche of the financing.
The Unit Shares, Warrants, Warrant Shares and Finders' Shares are subject to a hold period expiring on June 3, 2017.
The Company will use the proceeds to fund a drilling program at the Company's Borden Lake Extension property, and it will
continue to keep its general working capital expenses to a minimum.
About Borden Lake Extension:
The Borden Lake Extension Project covers an area of 36 square kilometres and lies approximately 5 km southeast of Goldcorp's
Borden Lake high grade gold zone where exploration has defined underground constrained indicated resources of 1.6 MMoz grading
5.39g/t Au and inferred resources of 0.4 MMoz grading 4.37 g/tAu. This zone remains open along strike to the southeast. In
addition, a lower grade pit constrained indicated resource of 2.3 MMoz grading 1.03g/t gold has been defined on the Goldcorp
property.
Exploration carried out by Nikos on the Borden Lake Extension Project is the first known work on the property, which is located
in the Kapuskasing Structural Zone. Nikos holds an option to earn a 100% interest in the property.
About Nikos Explorations:
Nikos Explorations is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective
gold projects in the Americas. The Company has 25,006,725 common shares issued and outstanding and trades on the TSX Venture
Exchange under the symbol NIK.
Roger Moss, PhD., P.Geo., is the qualified person for all technical information in this release.
For more information please contact:
Roger Moss, President Tel: 416-704-8291
Or visit our website at: www.nikosexplorations.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Nikos Explorations Ltd.