Canada Nickel Closes Previously Announced US$15 Million Loan Facility with Auramet International, Inc.
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Canada Nickel Closes Previously Announced US$15 Million Loan Facility
with Auramet International, Inc.
TORONTO, July 9, 2024 – 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$15 million previously announced on June 24, 2024.
The loan is due January 9, 2025 , carries an interest rate of 1.00% per month, and is subject to a 2.5%
arrangement fee. At closing, Auramet also received 750,000 1-year warrants with a strike price of $1.42
per common share. The loan is subject to such terms and conditions including certain specified positive
and negative covenants that are customary for a transaction of this nature. The warrants and the
underlying shares are subject to a four month hold period under applicable Canadian securities laws. The
Company expects to use the proceeds from the loan for working capital purposes.
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 2023 it purchased over 7 million ounces of gold, 126 million ounces of silver and 3 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 awar ded a Gold Medal the past two years
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 trademar k the terms NetZero NickelTM, NetZero
CobaltTM, NetZero IronTM and is pursuing the development of processes to allow the production of
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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 h eart of the prolific Timmins -Cochrane
mining camp. For more information, please visit www.canadanickel.com.
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 includes, but is not limited to, the
use of proceeds from the loan, the ability of the Company to deliver nickel required to feed the high
growth electric vehicle and stainless steel markets , and the development of processes to allow the
production of net zero carbon nickel, cobalt, and iron products. 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. There are no assurances that Crawford will be placed into
production. Factors that could affect the outcome include, among others: inability to repay the loan or
comply with the covenants set out in the loan agreement; the actual results of development activities;
project delays; inability to raise the funds necessary to complete development; general business,
economic, competitive, political and social uncertainties; 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 applicable la ws;
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 obta ining governmental approvals, necessary permitting or in the
completion of development or construction activities; mineral resource estimates relating to Crawford
could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen w ork may
be required to advance to the feasibility stage; and even if Crawford 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.