Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF), a company that is advancing the next generation of nickel-sulphide projects, has entered into a subscription agreement with Samsung SDI Co. Ltd. The agreement outlines Samsung SDI’s plans to invest $18.5 million in Canada Nickel; in return, Samsung SDI will acquire approximately 15.6 million shares of Canada Nickel, becoming an 8.7% shareholder. In addition, the agreement grants Samsung SDI the right to purchase a 10% equity interest in the Crawford project for $100.5 million after a final construction decision has been made; the company will also have offtake rights to the Crawford project’s nickel-cobalt products following the completion of its 10% equity investment in the project. “We are very pleased to welcome Samsung SDI as an investor and project partner with Canada Nickel,” said Canada Nickel CEO Mark Selby in the press release. “As we advance the Crawford Nickel Sulphide Project, it is critical to form long-term partnerships with companies that truly understand how crucial this production is for electric vehicle supply chains across North America and Europe. As one of the world’s leading electric vehicle battery manufacturers, Samsung SDI not only understands our vital role in these supply chains, but also believes in Canada Nickel’s vision for responsible, large-scale, net-zero carbon nickel production. Together, our companies are paving the way for a more sustainable future.”
To view the full press release, visit https://ibn.fm/6NPOM
About Canada Nickel Company Inc.
Canada Nickel 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 has applied in multiple jurisdictions to trademark the terms NetZero Nickel(TM), NetZero Cobalt(TM) and NetZero Iron(TM), 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 about the company, visit www.CanadaNickel.com.
NOTE TO INVESTORS: The latest news and updates relating to CNIKF are available in the company’s newsroom at https://ibn.fm/CNIKF
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