Canada Nickel Provides Corporate Update

Rhea-AI Summary

Canada Nickel (TSXV: CNC) (OTCQB: CNIKF) has announced an extension to the closing date of its $20 million Convertible Note agreement with Taykwa Tagamou Nation (TTN). The transaction, initially announced on December 16, 2024, is pending approval from the TSX Venture Exchange and other required third-party consents.

TTN's Chief Bruce Archibald reaffirmed their commitment to completing the investment partnership with Canada Nickel, emphasizing the collaboration's importance for future generations while maintaining environmental stewardship and community well-being.

Positive

• Secured $20 million financing through Convertible Note agreement
• Maintained strategic partnership with indigenous community (TTN)

Negative

• Delay in closing of financing transaction
• Transaction still subject to regulatory and third-party approvals

TORONTO, Feb. 18, 2025 /PRNewswire/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQB: CNIKF) has extended the closing date of the $20 million Convertible Note with Taykwa Tagamou Nation ("TTN"), announced on December 16, 2024.  Completion of the transaction is subject to certain conditions, including the approval of the TSX Venture Exchange, and the receipt of all other required third party consents.

"We remain committed to completing our investment partnership with Canada Nickel," said Chief Bruce Archibald of TTN. "TTN continues to believe that this important collaboration paves the way for future generations to thrive while maintaining our commitment to environmental stewardship and community well-being. We look forward to working with all parties for this investment to close quickly."

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 is currently anchored by its 100% owned flagship Crawford Nickel Sulphide Project in the emerging Timmins Nickel District. Canada Nickel Company has 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.

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, drill and exploration results relating to the target properties described herein (the "Properties"), the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the potential of the Crawford Nickel Sulphide Project and the Properties, timing and completion (if at all) of mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development plans and results, corporate and technical objectives, and the completion of assays, follow-up geophysics and further drilling. Forward-looking information is necessarily based upon several assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by law. 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

What is the value of the Convertible Note agreement between Canada Nickel (CNIKF) and TTN?

The Convertible Note agreement between Canada Nickel and Taykwa Tagamou Nation is valued at $20 million.

When was the Convertible Note agreement between Canada Nickel (CNIKF) and TTN originally announced?

The Convertible Note agreement was originally announced on December 16, 2024.

What approvals are still needed for the Canada Nickel (CNIKF) and TTN Convertible Note agreement?

The transaction requires approval from the TSX Venture Exchange and other required third-party consents.

What is the purpose of the partnership between Canada Nickel (CNIKF) and TTN?

The partnership aims to support future generations while maintaining environmental stewardship and community well-being.