Canada Nickel Provides Corporate Update
Canada Nickel (OTCQX: CNIKF) has announced the extension of its US$15 million loan facility repayment with Auramet International from April 25, 2025, to July 25, 2025. The company has the option to repay the loan before May 9, 2025, without incurring an extension fee. If not repaid by then, an extension fee of US$345,802 will be due by July 25, 2025.
The loan will carry a 1.25% monthly interest rate during the extension period, with interest payments on both the original loan and extension amounts deferred to July 25, 2025. This extension aims to facilitate the completion of various strategic financing initiatives, including a previously announced investment from Taykwa Tagamou Nation.
Canada Nickel (OTCQX: CNIKF) ha annunciato la proroga della scadenza per il rimborso del prestito da 15 milioni di dollari USA con Auramet International, posticipandola dal 25 aprile 2025 al 25 luglio 2025. L'azienda ha la possibilità di rimborsare il prestito prima del 9 maggio 2025 senza dover pagare alcuna commissione di estensione. In caso contrario, sarà dovuta una commissione di estensione di 345.802 dollari USA entro il 25 luglio 2025.
Il prestito avrà un tasso di interesse mensile dell'1,25% durante il periodo di proroga, con i pagamenti degli interessi sia sul prestito originale che sull'estensione differiti al 25 luglio 2025. Questa estensione mira a facilitare il completamento di varie iniziative strategiche di finanziamento, incluso un investimento precedentemente annunciato da Taykwa Tagamou Nation.
Canada Nickel (OTCQX: CNIKF) ha anunciado la extensión del plazo para el reembolso de su préstamo de 15 millones de dólares estadounidenses con Auramet International, pasando del 25 de abril de 2025 al 25 de julio de 2025. La compañía tiene la opción de pagar el préstamo antes del 9 de mayo de 2025 sin incurrir en una tarifa por extensión. Si no se paga para entonces, se deberá una tarifa de extensión de 345,802 dólares estadounidenses antes del 25 de julio de 2025.
El préstamo tendrá una tasa de interés mensual del 1,25% durante el período de extensión, con los pagos de intereses tanto del préstamo original como de la extensión aplazados hasta el 25 de julio de 2025. Esta extensión busca facilitar la finalización de varias iniciativas estratégicas de financiamiento, incluyendo una inversión anunciada previamente por Taykwa Tagamou Nation.
Canada Nickel (OTCQX: CNIKF)는 Auramet International과 체결한 1,500만 달러 대출 상환 기한을 2025년 4월 25일에서 2025년 7월 25일로 연장했다고 발표했습니다. 회사는 2025년 5월 9일 이전에 대출금을 상환할 경우 연장 수수료 없이 상환할 수 있는 옵션이 있습니다. 만약 그때까지 상환하지 않으면 2025년 7월 25일까지 345,802달러의 연장 수수료가 부과됩니다.
연장 기간 동안 대출은 월 1.25%의 이자율이 적용되며, 원금과 연장분에 대한 이자 지급은 2025년 7월 25일까지 연기됩니다. 이번 연장은 Taykwa Tagamou Nation에서 이전에 발표한 투자를 포함한 다양한 전략적 자금 조달 이니셔티브 완료를 지원하기 위한 것입니다.
Canada Nickel (OTCQX: CNIKF) a annoncé la prolongation de la date de remboursement de sa facilité de prêt de 15 millions de dollars US avec Auramet International, repoussée du 25 avril 2025 au 25 juillet 2025. La société a la possibilité de rembourser le prêt avant le 9 mai 2025 sans frais de prolongation. À défaut de remboursement à cette date, des frais de prolongation de 345 802 dollars US seront dus avant le 25 juillet 2025.
Le prêt portera un taux d'intérêt mensuel de 1,25% pendant la période de prolongation, avec les paiements d'intérêts sur le prêt initial et la prolongation différés au 25 juillet 2025. Cette extension vise à faciliter la réalisation de diverses initiatives stratégiques de financement, y compris un investissement précédemment annoncé par la Taykwa Tagamou Nation.
Canada Nickel (OTCQX: CNIKF) hat die Verlängerung der Rückzahlungsfrist für seine 15-Millionen-US-Dollar-Darlehensfazilität mit Auramet International vom 25. April 2025 auf den 25. Juli 2025 bekannt gegeben. Das Unternehmen hat die Option, das Darlehen vor dem 9. Mai 2025 ohne Verlängerungsgebühr zurückzuzahlen. Erfolgt die Rückzahlung nicht bis dahin, fällt bis zum 25. Juli 2025 eine Verlängerungsgebühr von 345.802 US-Dollar an.
Das Darlehen wird während des Verlängerungszeitraums mit einem monatlichen Zinssatz von 1,25% belastet, wobei die Zinszahlungen sowohl für das ursprüngliche Darlehen als auch für die Verlängerung bis zum 25. Juli 2025 aufgeschoben werden. Diese Verlängerung soll die Durchführung verschiedener strategischer Finanzierungsinitiativen erleichtern, einschließlich einer zuvor angekündigten Investition der Taykwa Tagamou Nation.
- Flexibility to repay loan before May 9, 2025 without extension fee
- Extended timeline to complete strategic financing initiatives
- Secured additional time for Taykwa Tagamou Nation investment completion
- Additional debt burden with 1.25% monthly interest rate
- Potential US$345,802 extension fee if not repaid by May 9, 2025
- Need for loan extension suggests potential cash flow challenges
Mark Selby, CEO and Director of Canada Nickel Company, said "I am pleased that we are extending repayment of our loan with Auramet allowing us to complete various strategic financing initiatives during this timeframe including the previously announced investment from Taykwa Tagamou Nation."
Loan Extension
An extension fee of
About Auramet
Auramet is one of the largest physical precious metals merchants in the world with over US
About Canada Nickel
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 applied in multiple jurisdictions to trademark the terms NetZero Nickel™, NetZero Cobalt™ and NetZero Iron™ 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
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, but is not limited to, the approval of the TSX Venture Exchange, the use of proceeds from the loan, the completion of any strategic financing initiatives, the ability of the Company to 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 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.
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