Cleantech Vanadium Mining Corp

OTCQB:CTVFFUnited StatesView on Canadian Exchange

Vancouver, British Columbia--(Newsfile Corp. - October 30, 2024) - Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) (the "Company" or "Flying Nickel") is pleased to announce that the Company has completed the arrangement previously announced by the Company on August 21, 2024 (the "Arrangement"), involving the Company, Norway House Cree Nation ("NHCN"), and 10197729 Manitoba Inc. (the "Purchaser"), a wholly owned entity of NHCN, pursuant to which, among other things, NHCN has acquired, through the Purchaser, the Company's Minago Nickel Project located in Manitoba, Canada in consideration for $8,000,000 in cash, the surrender 17,561,862 common shares in the capital of the Company ("Shares") held by NHCN, which represents all of the Shares held by NHCN, the assumption of certain royalties by the Purchaser and NHCN, the assumption of an existing option agreement by the Purchaser and NHCN, and reimbursement of certain expenses and fees incurred by the Company in connection with the Arrangement. The 17,561,862 Shares previously held by NHCN represented approximately 11.41% of the issued and outstanding Shares of Flying Nickel, and have been surrendered and cancelled. NHCN no longer holds any Shares of Flying Nickel. As previously announced on October 22, 2024 and October 25, 2024, respectively, the Arrangement was approved by the Company's shareholders at a special meeting held on October 21, 2024 (the "Meeting") and the British Columbia Supreme Court granted its final order in respect of the Arrangement on October 24, 2024.