Vancouver, British Columbia–(Newsfile Corp. – March 14, 2025) – First Atlantic Nickel Corp (TSXV: FAN) (OTCQB: FANCF) (“FAN” or the “Company”) announces that it has been requested by the OTC Markets Group Inc. (the “OTC Markets”) to issue this statement about promotional activity concerning its common shares (“Shares”) traded on the OTCQB Venture Market (“OTCQB”) (operated by the OTC Markets). On March 13, 2025, the OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its Shares traded on the OTCQB, including the distribution of newsletter emails published by MarketBeat Media, LLC and The Tomorrow Investor (the “Newsletter Email Writers”) discussing the Company, the global nickel market and the Company’s recent discoveries at its Atlantic Nickel Project in Newfoundland, Canada, including the new discovery at the Super Gulp Zone with initial drill hole intersecting 0.25% nickel & 0.28% chromium over 293.8 meters (announced February 26, 2025), the report of a new discovery at the RPM Zone intersecting 0.24% nickel & 0.32% chromium over 383.1 meters located 10km downstrike from the Super Gulp Zone (announced March 4, 2025), and the release of initial Davis Tube Recovery (“DTR”) metallurgical results showing magnetic concentrate of 1.37% nickel & 1.73% chromium over 383.1 metres (announced March 13, 2025).
On May 12, 2024, the Company entered into an agreement with Think Ink Marketing Data and Email Services, Inc. (“Think Ink”), to provide certain public relations services in an effort to increase public awareness of the Company and its Shares. The Company was therefore aware of Think Ink’s promotional activities respecting the Company since May 12, 2024. Certain promotional news letters were approved and paid for by the Company, through its engagement of Think Ink, including the newsletters dated March 13, 2025 and February 28, 2025, issued by the Newsletter Email Writers.
With respect to other marketing services providers engaged by the Company within the last 12 months, commencing on approximately April 1, 2024, the Company launched a marketing and investor relations program to raise awareness about the Company’s potential to make a critical mineral discovery at its Atlantic Nickel project in Newfoundland. The following is a list of the third-party providers (collectively, the “Service Providers”) engaged by the company to provide investor relations services, marketing, or other related services in the last twelve months: Think Ink Marketing Data and Email Services Inc. (May 12, 2024), TD Media LLC d/b/a Life Water Media (April 16, 2024) and Xander Capital Partners Inc. (“Xander”) (April 1, 2024).
The Company was therefore aware of the Service Providers’ activities respecting the Company since they began marketing campaigns on the Company’s behalf. The Service Providers are third-party marketing and advertising firms. The appointment of the Service Providers, the nature of the relationship between the Company and the Service Providers, as well as the compensation to be paid to the Service Providers was publicly disclosed in news releases on April 1, 2024, April 16, 2024 and May 12, 2024. All of which can be found under the Company’s profile on SEDAR+ (www.sedarplus.ca).
The Company provided the Service Providers with publicly available sources of information for their marketing materials and management reviewed and commented on the materials prepared by the Service Providers prior to dissemination to ensure factual accuracy. The Company does not believe any of the statements in the marketing materials prepared by the Service Providers were materially false or misleading.
The Company notes that investing in the Company’s Shares involves certain risks and uncertainties which investors should review prior to making any investment decisions. The Company encourages all investors to undertake proper due diligence and carefully consider all investment decisions. The Company directs potential investors to rely solely on its filings and disclosures made with the Canadian Securities Administrators, available at www.sedarplus.ca.
After inquiry of management, other than as disclosed herein, no directors, control persons, officers, or controlling shareholders have been involved with the creation, distribution, or payment of promotional materials related to the Company and its Shares.
The Company understands this promotional activity coincided with increased trading activity in its Shares beginning on approximately March 13, 2025. The Company does not believe the promotional activities were the primary factor in any increase in trading volume of its Shares that occurred on the same date, as the Company’s initial DTR metallurgical test results at its Atlantic Nickel Project were released on the same date. The Company believes that the favourable DTR results were the primary factor in the increased trading volume.
After inquiry of management, its officers and directors (collectively, the “Insiders”), the Company is not aware of any purchases or sales of the Company’s shares by Insiders within the past 90 days. Within the last 90 days, Xander has purchased 1,030,000 Shares and sold 80,000 Shares.
Other than pursuant to financings and acquisition transactions in accordance with TSX Venture Exchange policies, which the Company has publi