Canada Nickel Announces Closing of US$32 Million Bridge Loan Facility with Auramet International, Inc.

Rhea-AI Summary

Canada Nickel (OTCQX: CNIKF) closed a US$32 million bridge loan facility with Auramet International on Feb 10, 2026 to fund advancement of the Crawford Nickel Sulphide Project and to repay an existing loan with BT Strategic Minerals Assets LP.

The facility is due May 9, 2026, carries an interest rate of 1.00% per month, is subject to a 2.5% arrangement fee, and included issuance of 1,750,000 one-year warrants at an exercise price of $2.03 with a four-month hold period.

Positive

• US$32 million bridge loan closed to fund Crawford project
• Proceeds used to repay existing BT Strategic Minerals loan
• 1,750,000 warrants issued, aligning lender incentives with company upside

Negative

• Short maturity date: loan due May 9, 2026, creating near-term refinancing risk
• High financing cost: 1.00% per month interest plus 2.5% arrangement fee

TORONTO, Feb. 10, 2026 /PRNewswire/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) announced it has closed a US$32 million bridge loan facility with Auramet International, Inc. ("Auramet").  Proceeds from the facility will be used to provide additional funding to advance the Company's flagship Crawford Nickel Sulphide Project and to repay the existing loan with BT Strategic Minerals Assets LP, whose anchor investor is Baronet Capital.

Loan Facility

The bridge loan facility is due May 9, 2026, carries an interest rate of 1.00% per month, and is subject to a 2.5% arrangement fee. At closing, Auramet received 1,750,000 1-year warrants at an exercise price of $2.03. 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 will be subject to a four-month hold period under applicable Canadian securities laws.

About Auramet

Auramet is a private company established in 2004 by seasoned professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. It is one of the largest physical precious metals merchants in the world and has provided over $1.3 billion in term financing facilities to date. Auramet offers a full range of services including physical metals trading, metals merchant banking (including direct lending), and project finance advisory services to all participants in the precious metals supply chain.

About Canada Nickel Company 

Canada Nickel Company Inc. 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 1 applied in multiple jurisdictions to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM 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, please visit www.canadanickel.com.

For further information, please contact:

Mark Selby CEO
Phone: 647-256-1954
Email: info@canadanickel.com 

Cautionary Statement Concerning Forward-Looking Statements 

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes the ability of the Company to finance and construct the Crawford Nickel Project, deliver nickel required to feed the high growth electric vehicle and stainless steel markets, and the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Readers should not place undue reliance on forward looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual 2 results, performance or achievements of Canada Nickel to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: inability to repay the loan or comply with the covenants set out in the loan agreement; the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in applicable laws; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into production, there is no assurance that operations will be profitable. Although Canada Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Canada Nickel disclaims any obligation to update any forward looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. 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.

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SOURCE Canada Nickel Company Inc.

FAQ

How much financing did Canada Nickel (CNIKF) secure from Auramet on Feb 10, 2026?

Canada Nickel secured US$32 million in a bridge loan with Auramet. According to the company, proceeds will advance the Crawford Nickel Sulphide Project and repay an existing loan.

What are the key terms of the Auramet bridge loan for CNIKF shareholders?

The facility is due May 9, 2026 with 1.00% per month interest and a 2.5% arrangement fee. According to the company, 1,750,000 one-year warrants were issued at $2.03.

What shareholder dilution should CNIKF investors expect from the Auramet transaction?

Auramet received 1,750,000 one-year warrants at $2.03, which could dilute shares if exercised. According to the company, the warrants are subject to a four-month hold period under Canadian law.

Why did Canada Nickel use the Auramet bridge loan instead of alternate financing?

The company used the bridge loan to provide additional funding and to repay its existing BT Strategic Minerals loan. According to the company, the proceeds specifically advance the Crawford project.