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Canada Nickel Secures US$20 Million Bridge Loan Facilitated by BT Capital and Provides Corporate Update
Canada Nickel Secures US$20 Million Bridge Loan Facilitated by BT Capital and Provides Corporate ...
About this update from Canada Nickel Company Inc
[{"type":"text","content":"\n\n\n\n Canada Nickel Secures US$20 Million Bridge Loan Facilitated by BT Capital and Provides Corporate Update\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 May 9, 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 \") (TSXV: CNC) (OTCQX: CNIKF) today announced it has closed a\n \n US$20 million\n \n bridge loan facilitated by Ber Tov Capital Corporation (\"BT Capital\"), signed on\n \n May 9, 2025\n \n . The financing provides support to advance the Company's flagship Crawford Nickel Sulphide Project and pay out the existing loan with Auramet International, Inc. (\"Auramet\").\n \n\n\n\n\n\n\n\n\n \"We're pleased that BT Capital, a long-time participant in our financings, has facilitated this\n \n US$20 million\n \n bridge loan, enabling us to continue advancing the Crawford Nickel Sulphide Project towards a construction decision by year-end 2025\", said\n \n Mark Selby\n \n , CEO of Canada Nickel. \"We also expect to close the previously announced\n \n C$20 million\n \n convertible note investment with Taykwa Tagamou Nation during week of\n \n May 12\n \n\n th\n \n , 2025.\"\n \n\n\n Loan Terms\n \n\n\n The loan was provided by BT Strategic Mineral Assets LP, whose anchor investor is Baronet Capital. It matures on\n \n February 9, 2026\n \n , carries interest at 1.00% per month, and includes a 2.5% arrangement fee. As part of the transaction, BT Strategic Mineral Assets LP received 5,000,000 one-year warrants exercisable at\n \n $0.94\n \n . These securities are subject to a four-month statutory hold period under applicable Canadian securities laws.\n \n\n This secured loan includes customary positive and negative covenants for a transaction of this nature and remains subject to final approval by the TSX Venture Exchange (conditional approval has been received). The security covers all personal property and real property.  Proceeds will be used to repay the Company's remaining balance of the loan from Auramet and for gene...