C07066-2022

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Sep 20, 2022
2. SEC Identification Number
ASO94-03992
3. BIR Tax Identification No.
003-871-592
4. Exact name of issuer as specified in its charter
Global Ferronickel Holdings, Inc.
5. Province, country or other jurisdiction of incorporation
Makati, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
7/F Corporate Business Center, 151 Paseo de Roxas cor. Arnaiz St. Makati City Postal Code 1228
8. Issuer's telephone number, including area code
(02) 8519 7888
9. Former name or former address, if changed since last report
Not applicable
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 5,199,872,829
11. Indicate the item numbers reported herein
9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Global Ferronickel Holdings, Inc.FNI

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

FNI’s Ipilan Nickel Project marks major milestone with maiden shipment of nickel ore
Background/Description of the Disclosure

Brooke’s Point, Palawan/Sept. 20, 2022. Ipilan Nickel Corporation (INC), an affiliate of Global Ferronickel Holdings, Inc. (FNI), announces the successful completion of its maiden shipment of ore today from its mine site in Brooke’s Point, Palawan. With 54,700 Wet Metric Tons of medium-grade nickel ore loaded aboard M/V He Sheng Nan Fang, INC declared anchors aweigh for its first export en route to Guangdong Century Tsingshan Nickel Industry Co., Ltd in China (GCTN). A long-standing customer of FNI’s Surigao-based Platinum Group Metals Corporation (PGMC), GCTN is looking forward to building a solid relationship with INC.

“After years of careful planning and regulatory compliance, this inaugural shipment is a remarkable milestone for our Group and bodes well for the country’s economic and social governance goals at this critical time. Target for the year is 500,000 WMT, with increased production in the coming years, as we begin year-round operations,” said FNI Chairman Joseph C. Sy.

Under its Mineral Production Sharing Agreement (MPSA) with the government, INC is authorized to engage in the exploration, development and utilization for commercial purposes of nickel and other mineral deposits in the Municipality of Brooke’s Point, Palawan, with an area of 2,835 hectares. Estimated mine life is at least ten years, with an annual production rate of 1.5 million WMT of medium- to high-grade nickel ores. INC employs more than 1,300 personnel, mainly from the local community and nearby areas.

“We are proud of this development because it sets the tone for the optimal pursuit of our social development and environmental protection objectives. INC can now roll up the score in community engagement with various socio-civic initiatives in place from the beginning of our operations,” added Mr. Sy.

These projects include support for education, wellness, and livelihood development through scholarship grants, donation of school supplies, rice harvesters, fishing boats and implements, a brand new ambulance, medicines and other health essentials, construction of covered courts, daycare center, and health facility, allowances for teachers, barangay health workers and a community doctor, feeding programs, medical missions, livestock and rice farming assistance, and installation of solar dryers. INC has also tagged infrastructure as its primary focus with the establishment of a mini-hydro power plant and farm-to-market roads. During calamities, INC came in as one of the first responders, allotting over two million pesos worth of food and water supplies to those affected by Typhoon Odette and 12 million pesos more in medical equipment and sacks of rice at the height of the pandemic.
Other Relevant Information

Forward-Looking Statements:
This disclosure may contain forward-looking statements subject to several risks and uncertainties that could affect the Company's business and results of operations. Although the Company believes that the expectations reflected in this disclosure are reasonable, it gives no guarantee of future performance, actions, or events.

Contact:
Luigi I. Avanceña: 0998-544-7046
[email protected]
Filed on behalf by:
Name Eveart Grace Pomarin-Claro
Designation Corporate Secretary and Alternate Corporate Information Officer