Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF), a company that is advancing the next generation of nickel-sulphide projects, has released an update regarding recent activities. The update noted new management announcements as well as a $12 million loan facility. According to the report, Canada Nickel has added three key personnel to its management team. Desmond Tranquilla will serve as vice president of projects, Chris Chang will serve as vice president of corporate development, and Christian Brousseau will serve as vice president of innovation and technical services. In addition, the company noted that it has arranged a $12 million loan facility with Auramet, one of the largest physical precious metals merchants in the world. The transaction is expected to close on or before Sept. 15 , 2023, and the loan will be due on about Dec. 15, 2023. The report noted that, at closing, Auramet will also receive 550,000 one-year warrants with a strike price of $1.24 per common share. In addition, the update provided clarification on the acquisition of certain mining claims within the Texmont ultramafic trend and reported that CNIKF as an option to acquire a 100% interest in 28 single-cell mining claims located in the Texmont ultramafic trend.
“I am very proud of everything our team has accomplished in just four years,” said Canada Nickel CEO Mark Selby in the press release. “As we look forward to the completion of the feasibility study later this month, we are making a number of key management appointments in anticipation of advancing the project towards a construction decision by mid-2025. I am very pleased that we have been able to attract outstanding professionals like Des Tranquilla and Chris Chang to join our team on a full-time basis. I am also pleased that our long supportive financing partner, Auramet, has agreed to provide a $12 million bridge facility, which will allow us to remain well funded and continue to advance our permitting and detailed engineering activities. Discussions with potential offtake partners are ongoing and expected to be completed before year end.”
To view the full release, visit https://ibn.fm/TU1EP
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 Company 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 about the company, 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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