Nickel Industries Limited (ASX:NIC) agreed to acquire additional 10% stake in Oracle Nickel Project from Shanghai Decent Investment (Group) Co., Ltd. for $75 million on January 18, 2023. To fund the Acquired Assets and Acquired Options the Company is undertaking a $471 million capital raise. Completion of the additional 10% interest in Oracle Nickel Project is conditional upon the completion of the HNC acquisition.

The majority of the proceeds of the Equity Raise will be put towards acquiring additional 10% interest in Oracle Nickel Project.