Taykwa Tagamou Nation and Canada Nickel Announce $20 million Investment Partnership
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Taykwa Tagamou Nation and Canada Nickel
Announce $20 million Investment Partnership
Highlights:
• Largest ever known direct investment into a critical minerals mining project in
Canada by a First Nation
• Taykwa Tagamou Nation to hold 8.4% equity in Canada Nickel Company (upon
conversion) and the right to nominate one individual to the Company’s Board of
Directors
TORONTO, December 16, 2024 – Taykwa Tagamou Nation ("TTN") and Canada Nickel Company
Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) are proud to announce an
investment reflecting a shared commitment to advancing Canada Nickel’s flagship Crawford
Nickel Sulphide Project while fostering economic empowerment and long-term collaboration.
TTN will invest $20 million at closing of its own capital in a Convertible Note that will be
convertible into 16.67 million Canada Nickel common shares at a price of $1.20, representing an
8.4% interest in the Company (based on the Company’s current issued and outstanding share
capital). The Convertible Note was signed on December 13, 2024. Completion of the transaction,
which is expected to occur in January 2025, is subject to certain conditions including the approval
of the TSX Venture Exchange and the receipt of all other required third party consents.
“This partnership exemplifies our vision of economic self-determination,” said Chief Bruce
Archibald of TTN. “By utilizing our own capital to secure a significant stake in Canada Nickel, we’re
ensuring we have a true seat at the decision-making table. This collaboration paves the way for
future generations to thrive while maintaining our commitment to environmental stewardship
and community well-being. We are proud to be setting a new standard for First Nation
partnership in the mining sector. It demonstrates how mutual respect can drive meaningful
change and lasting benefits for both proponents and impacted First Nations.”
TTN’s investment not only ensures direct financial benefits for its community members but also
positions the First Nation as a key player in the global transition to clean energy, as nickel is a
critical mineral for electric vehicle batteries and other sustainable technologies and the
Company’s flagship Crawford Project is poised to be Canada’s largest nickel mine.
"This transaction demonstrates what is possible when industry and First Nations work together
towards a common goal,” said Canada Nickel CEO, Mark Selby. “TTN’s leadership and vision have
been instrumental in shaping this partnership. We are excited to welcome TTN as true partners
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in our journey to deliver critical minerals for the clean energy transition. As we advance our
flagship Crawford Project towards a construction decision, we also plan to unlock the potential
of the Timmins Nickel District together by completing eight resources by mid-2025, building a
future that benefits both the environment and future generations.”
Canada Nickel and TTN share a deep mutual interest in environmental stewardship. With Canada
Nickel’s In-Process Tailings carbonation, the Crawford Project is positioned to be a net-zero
operation, and one of Canada's largest permanent carbon storage facilities, storing up to 1.5M
tonnes of C02 annually during its peak production period.
“TTN has always sought to lead with vision and action, and we’re proud that this partnership sets
a new benchmark for how First Nations can engage with the mining sector,” said Deputy Chief
Derek Archibald of TTN. “This agreement demonstrates what can be achieved when First Nations
are creative with their own-source revenues, and respect, collaboration, and equity are at the
forefront.”
Convertible Note
The $20 million secured Convertible Note (the “Note”) will have a five-year term from closing and
carry a 4.75% coupon per annum paid quarterly prior to conversion. The Note provides TTN with
the right to convert into 16.67 million common shares (at a conversion price of $1.20 per share),
representing an 8.4% equity interest in the Company (based on Canada Nickel’s current issued
and outstanding share capital of 181,418,982 common shares). TTN has agreed to provide a $1
million deposit on signing. TTN will also have a right to one seat on the Company’s Board of
Directors for so long as it holds the Convertible Note or, after conversion, at least 5% of the
Company’s shares.
Quotes
This landmark agreement between Taykwa Tagamou Nation and Canada Nickel will help ensure
that local communities and First Nations can share in the benefit of mineral development in
Ontario”, said George Pirie, Minister of Mines for Ontario. “As the global demand for minerals
grows, Ontario is ready to be a responsible producer of these critical resources, bringing good
jobs and economic development opportunities to communities in the north and across the
province.”
- Hon. George Pirie, Minister of Mines
“I want to congratulate Taykwa Tagamou Nation and Canada Nickel for this historic partnership.”
said Stephen Crawford, Associate Minister of Mines. “It is very exciting to see a First Nation taking
an ownership stake in a critical minerals project that will be essential to the supply chains for
electric vehicles and other clean technologies. When First Nations and mining companies in
Ontario work together, economic growth and prosperity can be unlocked for entire regions of
our province.”
- Hon. Stephen Crawford, Associate Minister of Mines
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About Taykwa Tagamou Nation
Taykwa Tagamou Nation (TTN) is a progressive First Nation in Northern Ontario, committed to
achieving economic self-determination while maintaining a strong focus on sustainability and
community well-being. TTN is leading by example through innovative partnerships that ensure
its members benefit directly from economic opportunities while safeguarding its cultural and
environmental values for future generations.
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 is currently anchored by its 100% owned flagship Crawford Nickel Sulphide Project
in the emerging Timmins Nickel District. 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 leverage to nickel in low political risk
jurisdictions.
Media, Please Contact
Melanie Paradis
Phone: 416-399-7400
Email: [email protected]
Sydney Oakes, Director of Indigenous Relations and Public Affairs
Phone: 905-929-7151
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 significance of drill results, the ability to continue
drilling, the impact of drilling on the definition of any resource, the potential of the Crawford
Nickel Sulphide Project and the Properties, timing and completion (if at all) of mineral resource
estimates, the ability to sell marketable materials, strategic plans, including future exploration
and development plans and results, corporate and technical objectives, and the completion of
assays, follow-up geophysics and further drilling. 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 necessary to incur the expenditures required to retain and advance the property,
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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. 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 because of new information, future
events or otherwise, except as required by law. 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.