Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF), a company working to advance the next generation of high quality nickel sulphide projects to feed the high-growth electric vehicle and stainless steel markets, has announced corporate updates. In one of the updates, the company noted it has extended the repayment date of the US$12 million loan facility announced Sept. 18, 2023, with Auramet International, Inc. from Jan. 18, 2024, to Feb. 16, 2024, with the loan carrying an interest rate of 1.25% per month for the extension period. Canada Nickel also announced it has entered into seven purchase and sale agreements with arm’s length vendors pursuant to which the company has agreed to acquire mining claims to the Timmins, Ontario, region. In exchange, Canada Nickel will issue an aggregate of 723,000 common shares and pay an aggregate of $67,760 in cash. In addition, Canada Nickel has further agreed to issue 100,000 common shares to Taykwa Tagamou Nation (“TTN”) pursuant to the terms of the exploration agreement between the company and TTN and 100,000 common shares to Apitipi Anicinapek Nation (“AAN”) pursuant to the terms of the exploration agreement between Canada Nickel and AAN, in each case in respect of the company’s regional properties surrounding its Crawford project. According to the company, the issuances of common shares are subject to the prior approval of the TSX Venture Exchange, and the shares will be subject to a four-month hold period under Canadian securities laws from the date of the respective issuances. The company also confirmed it has agreed to pay each of Scotiabank and Deutsche Bank a cash fee of $520,380 in connection with the private placement of flow-through units announced Jan. 2, 2024.
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About Canada Nickel Company Inc.
Canada Nickel is advancing the next generation of nickel- sulphide projects to deliver nickel required to feed the high-growth electric vehicle and stainless steel markets. Canada Nickel has applied in multiple jurisdictions to trademark the terms NetZero Nickel(TM), NetZero Cobalt(TM) and NetZero Iron(TM) and is pursuing the development of processes to allow the production of net-zero carbon nickel, cobalt and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit www.CanadaNickel.com.
NOTE TO INVESTORS: The latest news and updates relating to CNIKF are available in the company’s newsroom at https://ibn.fm/CNIKF
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