Nickel North Extends and Increases Loan
Nickel North Exploration Corp.
NNX | TSX Venture Exchange
www.nickelnorthexploration.com
Suite 700, 1055 West Georgia Street, Vancouver, British Columbia, V6E 3P3, Canada
Telephone: 604.609.6182 | Facsimile: 604.899.1240
NEWS RELEASE
Nickel North Extends and Increases Loan
For Immediate Release
December 27, 2018
Nickel North Exploration Corp. (TSX Venture: NNX) (the “Company” or “Nickel North ”) is pleased to
announce that the Company has entered into an amendment agreement (the “ Amendment”) with
SinoTech (Hong Kong) Corporation Limited (the “Lender”) to further extend the repayment term of the
loan to the Company to March 31, 2019, while also increasing the principal amount of the loan to
$892,247.80 (the “Principal Amount”). The Principal Amount comprises the current principal amount of
the loan advanced to the Company to date and accrued interest thereon. The Principal Amount will
bear interest at a fixed rate of 10% per annum. All other terms and conditions of initial loan agreement
between the Company and the Lender dated November 2, 2016 remain in force and are unamended
except to the extent amended by the parties.
The proceeds of the Amendment are expected to be used by the Company for the daily operation and
paying the current liabilities.
The Amendment is considered a “related party transaction” under Multilateral Instrument 61-101
Protection of Minority Security Holders in Special Transactions (“MI 61-101 ”). The Amendment is
exempt from the requirements to obtain a formal valuation pursuant to the exemption in section 5.5(b)
of MI 61-101, as the Company is not listed on a specified market, and is exempt from minority
shareholder approval pursuant to section 5.7(1)(f) of MI 61-101, as the Amendment does not have an
equity or voting component and is on reasonable commercial terms that are not less advantageous to
the Company than if the Amendment were obtained from an arm's length party.
About Nickel North Exploration Corp.
Nickel North Exploration is a Canadian based explorer focused on defining a Ni-Cu-PGE resource at our
Hawk Ridge Project in Northern Quebec. The board of directors, advisor committee and management
team are experienced, successful mine finders. The property consists of a 50 km long belt of magmatic
Ni-Cu-PGE occurrences covering over 30,658 hectares. The project is located near tidewater. Quebec is
a mining friendly jurisdiction. Nickel North Exploration is a conscientious corporate citizen, maintains
good relations with Communities and Aboriginal people, and is committed to sustainable development.
For more information on the company, please visit www.nickelnorthexploration.com.
About SinoTech (Hong Kong) Corporation Limited
SinoTech is a wholly-owned subsidiary of Sinotech Minerals Exploration Co., Ltd.. Sinotech owns
48,071,860 common shares of the Company, representing approximately 62.8% of the issued and
outstanding common shares of the Company.
On behalf of Nickel North Exploration Corp.
“SIGNED”
Andrew Lee Smith, Interim President and CEO
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.
- 2 -
Disclaimer for Forward-Looking Statements
All statements, other than statement of historical fact, included herein are forward-looking statements
that are subject to risks and uncertainties. Forward-looking statements are often, but not always,
identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”,
“likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might”
occur or be achieved and other similar expressions. Forward-looking statements in this news release
include, among others, statements concerning the Lender’s advance to the Company under the
Amendment and the Company’s use of proceeds of the Amendment. Forward-looking statements are
subject to business and economic risks and uncertainties and other factors that could cause actual
results of operations to differ materially from those contained in the forward-looking statements.
Important factors that could cause actual results to differ materially from the Company’s expectations
include fluctuations in commodity prices and currency exchange rates; uncertainties relating to
interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for
cooperation of government agencies and native groups in the exploration and development of
properties and the issuance of required permits; the need to obtain additional financing to develop
properties and uncertainty as to the availability and terms of future financing; the possibility of delay in
exploration or development programs and uncertainty of meeting anticipated program milestones; and
uncertainty as to timely availability of permits and other governmental approvals. Forward-looking
statements are based on estimates and opinions of management at the date the statements are made.
The Company does not undertake any obligation to update forward-looking statements except as
required by applicable securities laws. Investors should not place undue reliance on forward-looking
statements.