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Canada Nickel Announces US$10 Million Loan Facility and Provides Corporate Update

Canada Nickel Announces US$10 Million Loan Facility and Provides Corporate Update
Written by Publishing Team

TorontoAnd December 21, 2021 /PRNewswire/- Canada Nickel Inc (“Canada Nickel“or”company(TSXV: CNC) (OTCQX: CNIKF) is pleased to provide an update on its discussions with strategic investors and financing activities.

Canada Nickel Company logo (CNW Group / Canada Nickel Company Inc.)

Canada Nickel Company logo (CNW Group / Canada Nickel Company Inc.)

“Canada Nickel is engaged in ongoing and constructive discussions with strategic investors that have been extended into the new year. The Company is aggressively pursuing the Crawford Nickel Sulfide project and has arranged 10 million US dollars A loan facility from Auramet ensures that the company continues to be well funded during the first quarter when the company expects to finalize the strategic investment process.” Mark Selby, president and CEO of Canada Nickel.

“Canada Nickel has made significant strides over the past year by continuing to deliver promising drilling results, providing a strong initial economic assessment, demonstrating significant improvements in our mining performance, and strengthening Timmins Nickel district. We look to maintain our momentum into 2022 in a market showing strong interest in both nickel sulfide assets and low carbon projects,” continued Mr. Selby.

loan facility
The company arranged 10 million US dollars A secured loan facility with Auramet which is expected to close on or before that January 5, 2022. Loan Repayable April 5 2022It will carry an interest rate of 1% per month and have an arrangement fee of 2% of the loan amount and issue 250,000 two-year guarantee at a strike price of $3.94 per share on the closing date.

This transaction is subject to the usual closing conditions, including approval by TSX Venture Exchange. The loan will be subject to such terms and conditions including certain positive and negative specific covenants that are usual for a transaction of this type.

About Uramit
Auramet is one of the largest precious metals dealers in the world with more than $22 billion in annual revenue and provides a full range of services to all participants in the precious metals chain, from extraction and production to manufacturing and consumption. Auramet is a private company founded in 2004 by a team previously working together since 1989. Their business consists of three main activities: physical metals trading, commercial banking and consulting. Auramet has built a consistently successful and prominent mineral franchise on the back of an experienced management team that has proven to be innovative and capable of providing high quality service to industry participants. In fiscal year 2020, it purchased more than 6 million ounces of gold, 70 million ounces of silver, and 3.2 million ounces of precision munitions sourced from a diversified base of more than 75 mining companies, 15 recycling companies and 20 refineries / Fuses (with none more than 5%). Oramit has also provided term financing facilities in excess of 850 million dollars So far in the mining sector and looking to grow its capital investment business in the field of mining of precious metals and batteries.

About Canada Nickel
Canada Nickel Company Inc. to develop the next generation of nickel-cobalt sulfide projects to deliver the nickel-cobalt needed to fuel the high-growth electric vehicle and stainless steel markets. Canada Nickel has successfully registered and applied for trademarks in various jurisdictions for NetZeroNickel™, NetZero Cobalt™ and NetZero Iron™ and continues to develop processes to allow production of net zero carbon nickel, cobalt and iron products. Canada Nickel offers investors leverage over nickel and cobalt in jurisdictions with low political risk. Canada Nickel is currently anchored on the 100% owned Crawford flagship project in the heart of the nickel and cobalt rich region. TimminsCochrane mining camp. For more information, please visit www.canadanickel.com.

Call:
Mark Selby, President and CEO
Tel: 647-256-1954
Email: info@canadanickel.com

Cautionary statement regarding 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, mineral outcomes, timing and results of the feasibility study, Crawford’s findings, including statements regarding net present value, future production, cash cost estimates, proposed mining plans and methods, mine life estimates, and cash flow projections. , mineral recovery operations, carbon footprint and sequestration levels, capital and operating cost estimates, timing of permits and environmental assessments, realization of mineral resource estimates, capital and operating cost estimates, project and mine life estimates, ability to obtain permit at target time, size and arrangement of project when production is achieved , estimates of economic return, timing and amount of estimated future production, capital, operating, exploration, potential expenditures and alternatives. Readers should not place undue reliance on forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause Canada Nickel’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by forward-looking statements. The results of the performance appraisal are estimates only and are based on a number of assumptions, any of which, if incorrect, may materially change the expected result. There are no confirmations that Crawford will be put into production. Factors that can influence the outcome include, among others: the actual results of development activities; project delay; inability to raise funds to complete development; general trade, economic, competitive, political and social uncertainty; Future metal prices or project costs can vary greatly and make any marketing uneconomical; Availability of alternative nickel sources or substitutions; actual nickel recovery; conclusions of economic evaluations. changes in project parameters as plans continue to be improved; accidents, labor disputes, availability and productivity of skilled labor and other risks of the mining industry; political instability, terrorism, insurrection, or war; Delays in obtaining necessary government approvals or permits or in completing development or construction activities; Crawford’s mineral resource estimates may be inaccurate for any reason; Additional work may be required but is not currently expected to progress to the feasibility stage; And even if Crawford starts production, there is no guarantee that the operations will be profitable.

Although Canada Nickel has attempted to identify significant factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results to differ from those expected, estimated or intended. The 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, results or otherwise, except as required by securities laws.

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