FOCUSED ON EXPLORATION AND DEVELOPMENT PROJECTS

Squadron Resources increases its stake in Poseidon Nickel to 18% and sub-underwrites 100% of the $68.8 million Entitlement Offer

Poseidon Nickel (ASX:POS) is pleased to announce a placement and fully underwritten renounceable entitlement offer to raise approximately $74.6 million. Squadron Resources and its associates will increase their holding in the Company to approximately 221.6 million shares or approximately 18% of the expanded capital post Placement. Squadron Resources is also sub-underwriting 100% of the Entitlement Offer.

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