Canada Nickel Closes Previously Announced US$12 Million Loan Facility with Auramet International, Inc.
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Canada Nickel Closes Previously Announced US$12 Million Loan Facility
with Auramet International, Inc.
TORONTO, September 18, 2023 – Canada Nickel Company Inc. ("Canada Nickel" or the "Company")
(TSXV: CNC) (OTCQX: CNIKF) today announced that it has closed a secured loan facility with Auramet
International, Inc. (“Auramet”) of US$12 million previously announced on September 6, 2023. The
proceeds will be used towards working capital and will allow the Company to remain well-funded to
continue to advance permitting and detailed engineering activities.
The loan is due December 18, 2023, carries an interest rate of 1.00% per month, and is subject to a
2.3% arrangement fee. Auramet also received 550,000 one-year warrants with a strike price of $1.24
per common share. The loan is subject to certain positive and negative covenants that are customary
for a transaction of this nature. The warrants and the underlying shares will be subject to a four month
hold period under applicable Canadian securities laws.
About Auramet
Auramet is one of the largest physical precious metals merchants in the world with over US$20 billion in
annual revenues and which provides a full range of services to all participants in the precious metals
supply chain. Auramet is a private company established in 2004 by seasoned professionals who have
assembled a global team of industry specialists with over 350 years combined industry experience. Their
business consists of three main activities: physical metals trading, metals merchant banking (including
direct lending) and project finance advisory services. The company has built a consistently successful and
prominent franchise in the metals space on the back of an experienced management team that has proven
to be innovative and capable of delivering the highest quality service to participants in the sector. In fiscal
year 2022 it purchased over 5 million ounces of gold, 78 million ounces of silver and 3.9 million ounces of
PGMs, and has provided term financing facilities in excess of US$1 billion to date. Auramet is looking to
grow its capital investment business in equity, royalties and streams in the precious metals and battery -
related metals mining space. Auramet is proud to have been awarded a Gold Medal for its ESG
commitment by EcoVadis, the most trusted provider of ESG ratings with a network of more than 90,000
rated companies. For more information on Auramet, please visit www.auramet.com.
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 Nickel TM, NetZero Cobalt TM,
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 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,
please visit www.canadanickel.com.
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For further information, please contact:
Mark Selby
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 in this news release includes, but
is not limited to, the expected use of proceeds of the loan, the ability of the Company to advance
permitting and detailed engineering activities, and statements relating to the Company's operations a
goals. Readers should not place undue reliance on forward -looking statements. Forward -looking
statements involve known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Canada Nickel to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking statements. Factors that could
affect the outcome include, among others: the actual results of development activities; project delays;
inability to raise the funds necessary to complete development; general business, economic, competitive,
political and social uncerta inties; future prices of metals or project costs could differ substantially and
make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual
nickel recovery; conclusions of economic evaluations; changes in applic able laws; changes in project
parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity
of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war;
delays in obtaining governmental approvals, necessary permitting or in the completion of development
or construction activities; mineral resource estimates relating to the Company's Crawford project could
prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be
required to advance to the feasibility stage; and even if the Company's Crawford project goes into
production, there is no assurance that operations will be profitable. Although Canada Nickel has
attempted to identify important factors that could cause actual actions, events or results to differ
materially from those described in forward -looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated, estimated or intended. Forward -looking
statements contained herein are made as of the date of this news release and Canada Nickel disclaims
any obligation to update any forward-looking statements, whether as a result of new information, future
events or results or otherwise, except as required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.