Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF), a company that is advancing the next generation of nickel-sulphide projects, has closed on a previously announced secured loan facility with Auramet International Inc. One of the largest physical precious-metals merchants in the world, Auramet has more than $20 billion in annual revenues and offers a full range of services to participants in the precious-metals supply chain. According to the announcement, the loan, which is due Jan. 9, 2025, is for $15 million. The company reported that the loan has a 1% interest rate per month and is subject to a 2.5% arrangement fee. “At closing, Auramet also received 750,000 one-year warrants with a strike price of $1.42 per common share,” the company stated in the press release. “The loan is subject to such terms and conditions including certain specified positive and negative covenants that are customary for a transaction of this nature. The warrants and the underlying shares are subject to a four-month hold period under applicable Canadian securities laws. The company expects to use the proceeds from the loan for working capital purposes”
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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 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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