Fletcher Nickel Completes Initial Public Offering

29.11.07

Toronto, Ontario, November 29th, 2007 - Fletcher Nickel Inc. (TSX-FL) is pleased to announce that it has completed its previously announced initial public offering, raising gross proceeds of approximately $7 million. The Company’s shares commence trading on the Toronto Stock Exchange today under the symbol “FL”.

Fletcher issued 5,715,000 common shares on a "flow-through" basis at a price of $0.70 per common share and 4,286,000 units at a price of $0.70 per unit.  Each unit consisted of one common share and one half of a common share purchase warrant, each whole such warrant entitling the holder thereof to acquire a common share at a price of $1.00 per common share until May 29, 2009. 

Haywood Securities Inc. acted as agent in connection with the offering and was paid a commission of 7% of the gross proceeds of the offering and was awarded compensation options to acquire the number of common shares and the number of units equivalent to 10% of the number of flow-through shares and units sold pursuant to the offering, respectively. The compensation options also expire on May 29, 2009 and have an exercise price of $0.70 per common share and per unit.

The Company is also pleased to announce that Patrick G. Crowley and Marvin J. Singer have been appointed to its Board of Directors.  Mr. Crowley is the Chief Financial Officer of OMERS.  Mr. Singer is a partner of Macleod Dixon.

For further information about Fletcher Nickel Inc., please see www.fletchernickel.com.

Bruce Hodgman
Communications Director
Telephone: (905) 582-9744
Facsimile (416) 363-7875
info@fletchernickel.com