Archer Exploration (CSE: RCHR) (OTCQB: RCHRF) announced Friday it will complete a non-brokered private placement for C$2.27 million and a consolidation of its common shares, effective May 1.
The company has also changed its name to “NorthX Nickel Corp.” and expects to commence trading on the CSE under the new trading symbol “NIX” on the same day.
The Canadian Ni-Cu-Co-PGE focused exploration and development company has an extensive portfolio of assets in Quebec and Ontario.
The company’s flagship asset is the Grasset project, located within the Abitibi Greenstone Belt, with an indicated mineral resource of 5.5 Mt @ 1.53% NiEq (such NiEq grade being established based on: 1.22% Ni, 0.13% Cu, 0.03% Co, 0.26 g/t Pt, 0.64 g/t Pd).
It also holds a portfolio of 37 properties and over 300 km2 in the mining district of Sudbury, Ontario.
