Canada Nickel Appoints Financial Advisors, Reaches Next Permitting Milestone
1
‘
Canada Nickel Appoints Financial Advisors,
Reaches Next Permitting Milestone
TORONTO, December 15, 2022 – Canada Nickel Company Inc. ("Canada Nickel" or the "Company")
(TSXV: CNC) (OTCQX: CNIKF) is pleased to announce that it has engaged Deutsche Bank Securities Inc
(“Deutsche Bank”) and Scotiabank as financial advisors for the equity component of the project financing
for the Company's Crawford Nickel Sulphide Project ("Crawford").
“As we move into the next phase of advancing Crawford towards production, we are pleased to engage
two of the world’s leading investment banks with a broad base of mining and industrial expertise,
Scotiabank and Deutsche Bank, to advise the Company on alternatives for the equity portion of the project
financing for Crawford,” said Mark Selby, Chair & CEO of Canada Nickel. “We are also pleased to
announce that our team has completed another significant permitting milestone on the critical path
towards production, by filing the detailed project description with the Impact Assessment Agency of
Canada earlier this week. We continue to target receipt of permits by mid-2025 with construction to
immediately follow.”
Advisory
The Company has been engaged in discussions with a number of strategic and industry participants over
the past 18 months. With the upcoming completion of the feasibility study, the Company is turning its
focus towards project financing and permitting activities to ensure that the Company has its financing
package in place well in advance of the receipt of project permits which are targeted to be received by
mid-2025. Deutsche Bank and Scotiabank will assist the company with the evaluation of strategic and
financial alternatives for the equity portion of the project financing. The financial advisors will also assist
the Company in providing defense advisory and planning. In addition, the Company is engaged in
discussions with multiple groups and expects to appoint an advisor for the debt portion of the project
financing in early 2023.
Filing of Detailed Project Description
Following Canada Nickel’s August 2022 submission of the Initial Project Description, the Impact
Assessment Agency of Canada (the Agency) conducted a round of consultation with Indigenous
communities, the public, and various federal and provincial authorities before supplying Canada Nickel
with the Summary of Issues in September. After reviewing the Summary of Issues, Canada Nickel is
pleased to announce the filing of the Detailed Project Description (DPD) and the Response to the Summary
of Issues, a significant step in progressing the federal Impact Assessment Process for the Crawford Project.
2
About Canada Nickel Company
Canada Nickel Company Inc. 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 NickelTM, NetZero CobaltTM, NetZero IronTM
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 leverag e 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.
For further information, please contact:
Mark Selby
Chair and CEO
Phone: 647-256-1954
Email: [email protected]
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
and exploration results relating to the target properties described herein (the "Properties"), the potential
of the Crawford Nickel Sul phide Project and the Properties, timing of economic studies and mineral
resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and
development results, and corporate and technical objectives. Forward -looking information is necessarily
based upon several 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 necessa ry 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, risks of the mining industry,
delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals, and the
impact of COVID-19 related disruptions in relation to the Company's business operations including upon
its employees, suppliers, facilities and other stakeholders. 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. C anada Nickel disclaims any intention or obligation to update or revise any forward -looking
information, whether because of new information, future events or otherwise, except as required by law.