Canada Nickel Announces Acceleration of May 2020 Warrants
Canada Nickel Announces Acceleration of May
2020 Warrants
TORONTO
,
July 16, 2020
/CNW/ - Canada Nickel Company Inc. (TSX-V: CNC) ("
Canada Nickel
"
or the "
Company
") today announced that it is accelerating the expiry date of its common share
purchase warrants (the "
Warrants
") issued on
May 5, 2020
under the warrant indenture (the
"
Warrant Indenture
") between TSX Trust Company (the "
Warrant Agent
") and the Company.
"
The acceleration and exercise of these Warrants would provide us with the additional capital to
allow us to continue to aggressively advance our Crawford Nickel-Cobalt sulphide Project and
complete our Preliminary Economic Analysis (PEA) by year-end.
" commented
Mark Selby
, Chair
and CEO of Canada Nickel.
The Crawford Nickel-Cobalt Sulphide Project is located in the heart of the prolific
Timmins
-
Cochrane
mining camp in
Ontario, Canada
, and is adjacent to well-established, major infrastructure associated
with over 100 years of regional mining activity.
Accelerated Expiry Date
The Company is entitled under the Warrant Indenture to accelerate the expiry date of the Warrants
upon the occurrence of an Early Expiry Event (as defined in the Warrant Indenture). The Company
has delivered to the Warrant Agent a notice of the occurrence of such Early Expiry Event and its
election to accelerate the expiry date of the Warrants to
August 21, 2020
(the "
Accelerated Expiry
Date
").
Any Warrants that have not been exercised by
5:00 p.m.
(
Toronto
time) on the Accelerated
Expiry Date will automatically expire and no longer be exercisable.
Any questions regarding this acceleration or the exercise of the Warrants should be directed to the
Company at: 647-256-1954 or
.
About Canada Nickel Company
Canada Nickel Company Inc. 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 provides investors with leverage to nickel and cobalt 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.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains certain information that may constitute "forward-looking information"
under applicable Canadian securities legislation. Forward looking information includes, but is not
limited to, drill results relating to the Crawford Nickel-Cobalt Sulphide Project, the potential of the
Crawford Nickel-Cobalt Sulphide Project, strategic plans, including future exploration and
development results, and corporate and technical objectives. Forward-looking information is
necessarily based upon a number of assumptions that, while considered reasonable, are subject to
known and unknown risks, uncertainties, and other factors which may cause the actual results and
future events to differ materially from those expressed or implied by such forward-looking
information. Factors that could affect the outcome include, among others: future prices and the
supply of metals, the future demand for metals, the results of drilling, inability to raise the money
necessary to incur the expenditures required to retain and advance the property, environmental
liabilities (known and unknown), general business, economic, competitive, political and social
uncertainties, results of exploration programs, timing of the updated resource estimate, risks of the
mining industry, delays in obtaining governmental approvals, and failure to obtain regulatory or
shareholder approvals. There can be no assurance that such information will prove to be accurate,
as actual results and future events could differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on forward-looking information. All forward-
looking information contained in this press release is given as of the date hereof and is based upon
the opinions and estimates of management and information available to management as at the date
hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise, except as required
by law.
SOURCE
Canada Nickel Company Inc.
View original content:
http://www.newswire.ca/en/releases/archive/July2020/16/c9725.html
%SEDAR: 00048733E
For further information:
Mark Selby, Chair and CEO, Phone: 647-256-1954, Email:
CO: Canada Nickel Company Inc.
CNW 07:00e 16-JUL-20