Business
Canada Nickel Provides Corporate Update and Announces US$15 Million Loan Facility with Auramet International, Inc.
Canada Nickel Provides Corporate Update and Announces US$15 Million Loan Facility with Auramet In...
About this update from Canada Nickel Company Inc
[{"type":"text","content":"\n \n \n \n Canada Nickel Provides Corporate Update and Announces US$15 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 June 24, 2024\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 announces that the Company has arranged a\n \n US$15 million\n \n loan facility with Auramet, which is expected to close on or before July\n \n \n 9, 2024.\n \n \n \n \n \n \n \n \n \n \n Mark Selby\n \n , CEO, said, \"I am pleased that our long supportive financing partner, Auramet, has agreed to provide a\n \n US$15\n \n \n \n million bridge facility, which will allow us to remain well-funded to continue to advance our permitting, engineering, and financing activities. Discussions with offtake and project partners for Crawford are ongoing and expected to be completed before year end as we continue to target a mid-year 2025 construction decision for Crawford upon receipt of permits.\"\n \n \n \n Loan Facility\n \n \n \n The loan will be due\n \n January 9, 2025\n \n , will carry an interest rate of 1.00% per month, and be subject to a 2.5% arrangement fee. At closing, Auramet will also receive 750,000 1\n \n \n year warrants with a strike price of\n \n $1.42\n \n . The loan will be subject to such terms and conditions including certain specified 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. The proceeds will be used for working capital purposes. The closing of the loan facility is subject to customary conditions including the approval of the TSX Venture Exchange.\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\n \n \n \n billion in annual revenues and which provides a full range of services to all participants in ...