Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF), a company that is advancing the next generation of nickel-sulphide projects, announced the extension of the repayment date of its $12 million loan facility with Auramet International Inc. The loan facility was announced in September 2023. One of the largest physical precious-metals merchants in the world, Auramet has more than $20 billion in annual revenues and provides a full range of services to participants in the precious metals supply chain. The repayment date has been extended to Jan. 18, 2024, and Canada Nickel has agreed to issue 350,000 one-year common share purchase warrants with a strike price of $1.19 per share as well as pay an extension fee of 1.5% of the repayment amount of $185,519. The announcement noted that the loan will carry an interest rate of 1.25% per month for the extension period, with the warrants and the underlying shares being subject to a four-month hold period under applicable Canadian securities laws. “I am pleased that we are extending repayment of our loan with Auramet to Jan. 18, 2024 , utilizing 30 days of the 90-day extension right that we had negotiated as part of the original loan agreement, which allows us to advance various financing and offtake initiatives, which we expect to complete during this timeframe,” said Canada Nickel CEO Mark Selby in the press release.
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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 Company 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.
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