Apr. 13, 2009 (China Knowledge) - Ji Lin Ji En Nickel Industry Co Ltd<600432>, a China-based nickel products manufacturer and seller, yesterday revealed that it will issue up to 60 million shares to up to 10 investors.

Around RMB 1.1 billion will be collected from the shares issuance. The company will spend RMB 500 million to replenish its working capital and the rest of the money will be used to invest in three overseas projects.

According to the company's statement, it will invest RMB 248 million to cooperate with Goldbrook Ventures, a Canadian company that owns 891,000 acres of land in the Raglan Nickel Copper Mine project in the Province of Quebec.

Ji Lin Ji En Nickel Industry will spend RMB 165 million to acquire a stake in Ontario's Liberty Mines to obtain a holding status in the Canadian company.