Conic Adds C$6.9 Million IN Cash
NEWS RELEASE TSX Venture: NKL
CONIC ADDS C$6.9 MILLION IN CASH
TORONTO, ONTARIO, September 17, 2020 — Conic Metals Corp. (“Conic” or the “Company”) (TSXV:
NKL) is pleased to announce that it has added C$6.9 million of cash to its balance sheet by, after approval
of its independent board members, monetizing the 3.98 million shares that the Company owned in Giga
Metals Corp. (“Giga Shares”).
“Conic has significantly improved its balance sheet with the execution of this sale” stated Justin Cochrane,
Conic’s President & CEO. “We continue to hold a 2.0% NSR royalty on Giga’s Turnagain property and
believe that Turnagain has a unique opportunity to be a green source of Nickel for decades to automakers
and battery makers as electric vehicles and energy storage systems continue to gain traction.”
Following the sale, the Company now has approximately US$8.2 million of consolidated cash.
About Conic
Conic Metals Corp. is a base metals company offering direct exposure to nickel and cobalt, both being
critical elements of electric vehicles and energy storage systems. Conic holds an 8.56% joint -venture
interest in the producing, long-life and world-class Ramu Nickel-Cobalt Operation located in Papua New
Guinea which provides Conic with significant attributable nickel and cobalt production. In addition, Conic
manages a portfolio of 11 nickel and cobalt royalties on advanced/development and exploration projects in
Canada and Australia. Conic will continue to invest in a battery metals -focused portfolio of streams,
royalties and direct interests in mineral properties containing battery metals.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain information which constitutes ‘forward -looking statements’ and
‘forward-looking information’ within the meaning of applicable Canadian securities laws. Any statements
that are contained in this news release that are not statements of historical fact may be deemed to be forward-
looking statements. Forward -looking statements are often identified by terms such as “may”, “should”,
“anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar
expressions. Forward-looking statements in this news release include, but are not limited to : statements
with respect to the proceeds received from the sale of the Giga Shares; statements with respect to operational
and financial results and cash balances; statements with respect to the prospects of nickel and cobalt in the
global electrification of vehicles ; and statements with respect to the business and assets of Conic and its
strategy going forward. Readers are cautioned not to place undue reliance on for ward-looking statements.
Forward-looking statements involve known and unknown risks and uncertainties, most of which are beyond
the Company’s control. Should one or more of the risks or uncertainties underlying these forward-looking
statements materialize, or should assumptions underlying the forward-looking statements prove incorrect,
actual results, performance or achievements could vary materially from those expressed or implied by the
forward-looking statements.
The forward-looking statements contained herein are made as of the date of this release and, other than as
required by applicable securities laws, the Company does not assume any obligation to update or revise
them to reflect new events or circumstances. The forward-looking statements contained in this release are
expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. No securities regulatory authority has either approved or disapproved of the contents of this
news release.
Investor Contact:
Justin Cochrane
Tel: 647.846.7765
Email: [email protected]