Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF), a company that is advancing the next generation of nickel-sulphide projects, has arranged a $15 million loan facility with Auramet; the transaction is expected to close on or before July 9, 2024. According to the announcement, the loan, which will be due Jan. 9, 2025, has an interest rate of 1% per month with a 2.5% arrangement fee and is subject to customary terms and conditions. In addition, when the loan closes, Auramet will receive 750,000 one-year warrants with a strike price of $1.42. The warrants and the underlying shares will be subject to a four-month hold period. Canada Nickel anticipates using the funds from the loan for working capital purposes. One of the largest physical precious-metals merchants in the world, Auramet is a private company with more than $20 billion in annual revenues. The business consists of three main activities: physical metals trading, metals merchant banking (including direct lending) and project finance advisory services. “I am pleased that our long supportive financing partner, Auramet, has agreed to provide a $15 million bridge facility, which will allow us to remain well funded to continue to advance our permitting, engineering and financing activities,” said Canada Nickel CEO Mark Selby in the press release. “Discussions with offtake and project partners for Crawford are ongoing and expected to be completed before year end as we continue to target a mid-year 2025 construction decision for Crawford upon receipt of permits.”
To view the full release, visit https://ibn.fm/iT4f5
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 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
About ESGWireNews
ESGWireNews (“ESG”) is a specialized communications platform with a focus on the Environmental, Social and Governance (ESG) sector and public companies committed to sustainable corporate practices. ESGWireNews is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, ESG is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, ESG brings its clients unparalleled recognition and brand awareness. ESG is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from ESGWireNews, text “ESG” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.ESGWireNews.com
Please see full terms of use and disclaimers on the ESGWireNews website applicable to all content provided by ESG, wherever published or re-published: https://www.ESGWireNews.com/Disclaimer
ESGWireNews
Los Angeles, CA
www.ESGWireNews.com
310.299.1717 Office
[email protected]
ESGWireNews is powered by IBN