Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF), a company that is advancing the next generation of nickel-sulphide projects, has closed on a secured loan facility with Auramet International, Inc.; the $12 million loan facility was previously announced on Sept. 6, 2023. According to the announcement, the company anticipates using the net proceeds from the transaction for working capital and to advance its permitting and detailed engineering activities. Transaction details include a loan due date of Dec. 18, 2023, with an interest rate of 1% per month; the transaction is subject to a 2.3% arrangement fee. The announcement also noted that Auramet has received 550,000 one-year warrants with a strike price of $1.24 per common share. One of the largest physical precious metals merchants in the world, Auramet has more than $20 billion in annual revenues and provides a full range of services to all participants in the precious metals supply chain. The company’s business is comprised of three main activities: physical metals trading, metals merchant banking (including direct lending) and project finance advisory services. The company has been awarded a EcoVadis gold medal for its ESG commitment. EcoVadis is the most trusted provider of ESG ratings with a network of more than 90,000 rated companies.
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About Canada Nickel Company Inc.
Canada Nickel is advancing the next generation of nickel-cobalt sulphide projects to deliver nickel and cobalt 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.
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