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Canada Nickel Announces $24 million Investment from Anglo American
Canada Nickel Announces $24 million Investment from Anglo American Canada NewsWire ...
About this update from Canada Nickel Company Inc
[{"type":"text","content":"\n \n \n \n Canada Nickel Announces $24 million Investment from Anglo American\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Highlights\n \n \n \n \n Another key milestone for advancing Crawford Nickel Project towards production\n \n \n Anglo American to become a 9.9% shareholder\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Feb. 8, 2023\n \n \n /CNW/ -\n \n Canada Nickel Company Inc.\n \n (\"\n \n Canada Nickel\n \n \" or the \"\n \n Company\n \n \") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce that the Company has entered into a Subscription Agreement with Anglo American today to make an approximately\n \n $24 million\n \n investment in\n \n Canada\n \n Nickel at a price of\n \n $1.95\n \n per Common Share, a 10% premium to the 30-day volume weighted average price (\"VWAP\").\n \n \n \n \n \n \n \n \n \n Upon completion of the private placement, Anglo American will own 9.9% of the Company's issued and outstanding Common Shares on a non-diluted basis.  In addition, Canada Nickel has agreed to enter into at closing a binding Offtake Term Sheet with Anglo American pursuant to which Anglo American will have an exclusive right to purchase up to ten per cent (10%) of recoveries of nickel concentrate, iron and chromium contained in the magnetite concentrates and any corresponding carbon credits from the Company's Crawford Nickel Project.  Canada Nickel has also agreed to enter into a Material Transfer and Technology Testing Agreement with Anglo American to assess opportunities to add value to Crawford from its FutureSmart Mining™ technology program.\n \n \n \"We are very pleased to welcome Anglo American, a leading global mining company, as a cornerstone investor in\n \n Canada\n \n Nickel.  Today's announcement is another key milestone as we advance Crawford towards production.\" said\n \n Mark Selby\n \n , Chair & CEO of Canada Nickel.  \"Our team is looking forward to working with Anglo American to identify opportunities to apply their industry leading mining innovation technology to add additi...