James Bell Capital Corp. Announces Business Combination with Evolution Nickel

Deal News | Feb 18, 2025 | Globenewswire

James Bell Capital Corp. (JBCC) has announced a business combination with Evolution Nickel Corp., focusing on the South Thompson Nickel Project in Manitoba. The definitive agreement details a three-cornered amalgamation which will result in Evolution amalgamating with a JBCC wholly-owned subsidiary. JBCC will acquire all of Evolution's outstanding shares by issuing 52 million JBCC shares. Post-transaction, JBCC plans to rename itself as Evolution Nickel Corp. The primary focus will shift towards the advancement of the nickel project, while seeking other development opportunities. A non-brokered private placement aims to raise $5 million, which will be used for further project exploration and general corporate purposes. The transaction awaits regulatory approvals and other conditions, emphasizing its speculative nature on the securities market.

Sectors

  • Mining and Metals
  • Financial Services
  • Energy and Natural Resources

Geography

  • Canada – Both companies involved, JBCC and Evolution Nickel, are operating within Canada, with the nickel project located in Manitoba.

Industry

  • Mining and Metals – The transaction focuses on the development and exploration of the South Thompson Nickel Project, making the mining and metals industry highly relevant.
  • Financial Services – JBCC's engagement in a business merger and issuance of shares involves financial activities, pertinent to the financial services sector.
  • Energy and Natural Resources – The focus on nickel exploration and development taps directly into the natural resources sector.

Financials

  • $5,000,000 – The amount to be raised via a non-brokered private placement as part of the transaction.

Participants

NameRoleTypeDescription
James Bell Capital Corp.AcquirerCompanyJBCC is a company shifting its focus to natural resource development through a business combination with Evolution Nickel Corp.
Evolution Nickel Corp.TargetCompanyA private company focused on nickel project development, working with JBCC in a business combination.
TSX Venture ExchangeRegulatoryCompanyThe regulatory body where JBCC securities are traded, not responsible for the transaction content approval.