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Canada Nickel Closes Previously Announced US$12 Million Loan Facility with Auramet International, Inc.
Canada Nickel Closes Previously Announced US$12 Million Loan Facility with Auramet International,...
About this update from Canada Nickel Company Inc
[{"type":"text","content":"\n \n \n \n Canada Nickel Closes Previously Announced US$12 Million Loan Facility with Auramet International, Inc.\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 \n TORONTO\n \n \n ,\n \n \n Sept. 18, 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) today announced that it has closed a secured loan facility with Auramet International, Inc. (\"Auramet\") of\n \n US$12 million\n \n previously announced on\n \n September 6, 2023\n \n . The proceeds will be used towards working capital and will allow the Company to remain well-funded to continue to advance permitting and detailed engineering activities.\n \n \n \n \n \n \n \n \n \n The loan is due\n \n December 18, 2023\n \n , carries an interest rate of 1.00% per month, and is subject to a 2.3% arrangement fee.  Auramet also received 550,000 one-year warrants with a strike price of\n \n $1.24\n \n per common share. The loan is subject to certain positive and negative covenants that are customary for a transaction of this nature. The warrants and the underlying shares will be subject to a four month hold period under applicable Canadian securities laws.\n \n \n \n About Auramet\n \n \n \n Auramet is one of the largest physical precious metals merchants in the world with over\n \n US$20 billion\n \n in annual revenues and which provides a full range of services to all participants in the precious metals supply chain. Auramet is a private company established in 2004 by seasoned professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. Their business consists of three main activities: physical metals trading, metals merchant banking (including direct lending) and project finance advisory services. The company has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service ...