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Canada Nickel Announces Formation and Partial Sale of RoyaltyCo Subsidiary
Canada Nickel Announces Formation and Partial Sale of RoyaltyCo Subsidiary Canada NewsW...
About this update from Canada Nickel Company Inc
[{"type":"text","content":"\n\n\n\n Canada Nickel Announces Formation and Partial Sale of RoyaltyCo Subsidiary\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.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n Highlights\n \n\n\n\n Canada Nickel to receive\n \n $8 million\n \n in cash and 8.9 million shares and hold 62% interest in RoyaltyCo\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n March 18, 2025\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 \") (TSX-V:CNC) (OTCQB: CNIKF) is pleased to announce the signing of a binding Letter of Intent (the \"LOI\") with Edmiston Drive Capital Corp. (\"EDCC\") on\n \n March 17, 2025\n \n whereby a new royalty company (\"RoyaltyCo\") will be created to hold net smelter return (\"NSR\") royalties on all of Canada Nickel regional exploration properties in the Timmins Nickel District with the exception of Crawford and other targets (Kingsmill and Dargavel) located on the original Project 81 patents.\n \n\n\n\n\n\n\n\n\n Subject to the satisfaction of applicable conditions precedent, Canada Nickel anticipates it will receive\n \n $8 million\n \n in cash and 8.9 million shares of EDCC to hold a 62% interest in EDCC upon closing.\n \n\n\n Mark Selby\n \n , Canada Nickel's CEO, said: \"We are very excited to work with EDCC toward the creation of a new royalty company which will hold NSR royalties of the Company's portfolio of properties in the Timmins Nickel District which, when combined, we expect to be among the world's largest nickel sulphide resources.  We have published resources on two of these properties and expect to announce a further six resources by mid-2025.  This transaction is just one further step in unlocking value while minimizing equity dilution for Canada Nickel shareholders.  This world scale portfolio is just the start for EDCC, which will seek the acquisition or creation of new royalties and streams that align with its low carbon and low environmental footprint objectives.\"\n \n\n\n RoyaltyCo Formation and Transaction Details\n \n\n\n Canada Nicke...