Canada Nickel provides financing update

Canada Nickel Compan announced that it has extended the repayment date of the US$12 million loan facility announced September 18, 2023 with Auramet International to January 18, 2024 by agreeing to issue 350,000 one year common share purchase warrants with a strike price of $1.19 per share and pay an extension fee of 1.5% of the repayment amount of US$185,519. The loan will carry an interest rate of 1.25% per month for the extension period. The warrants and the underlying shares will be subject to a four month hold period under applicable Canadian securities laws. Mark Selby, CEO of Canada Nickel said, “I am pleased that we are extending repayment of our loan with Auramet to January 18, 2024, utilizing 30 days of the 90 day extension right that we had negotiated as part of the original loan agreement which allows us to advance various financing and offtake initiatives, which we expect to complete during this timeframe.”