International Nickel Ventures Corporation Announces Closing Of Over-Allotment Option
NOT FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario, Canada – April 6, 2006 – International Nickel Ventures Corporation (“INV”) (TSX: NVC) reports the closing of the over-allotment option relating to its Initial Public Offering (“IPO”), resulting in the issuance of 2,620,000 common shares of INV at a price of $1.20 per share. The offering was underwritten by a syndicate co-led by CIBC World Markets Inc. and Dundee Securities Corporation, and including GMP Securities L.P.
With the issuance of these shares, INV has 34,452,300 shares issued and outstanding. The net proceeds from the IPO of $25.3 million (including proceeds from the exercise of the overallotment option) will be used to complete INV’s share of the approved 2006 programs on the Santa Fé and Iporá Properties as well as on INV’s 100%-owned Goias Region and Para State Properties. It will also be used to fund regional exploration and prospecting activities, the acquisition of additional mineral properties and for general working capital purposes.
The final prospectus for the IPO is available on the SEDAR website at www.sedar.com. For further technical information concerning INV’s properties, please refer to the company’s technical report, which is also available on the SEDAR website.
INV is a Canadian mineral resource company focused on the acquisition, exploration and development of nickel projects in Brazil. Its primary asset is an option to acquire, with partner and operator Teck Cominco Limited, a 75% interest in two advanced-stage nickel laterite deposits, the Santa Fé and the Iporá, in the Goias nickel camp of Brazil. In addition, INV has 100% ownership in an extensive land package of prospective nickel properties in Goias and Para States.
The securities referenced by this news release have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States without registration or applicable exemption from registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy common shares of INV in any jurisdiction.