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CanAlaska Completes Acquisition of Mel Nickel Deposit in Thompson Nickel Belt, Manitoba
Meet Management at the 121 Mining Investment Conference in New York Vancouver, British Columbia-...
About this update from Canalaska Uranium Ltd
[{"type":"text","content":"CanAlaska Completes Acquisition of Mel Nickel Deposit in Thompson Nickel Belt, ManitobaMeet Management at the 121 Mining Investment Conference in New YorkVancouver, British Columbia--(Newsfile Corp. - May 15, 2023) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) (\"CanAlaska or the \"Company\") is pleased to announce that it has now completed the acquisition of the Mel nickel deposit and surrounding mineral claims (Figure 1). Figure 1 – Mel Project Location To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/2864/166105_1d7015c344f9b8d6_002full.jpgCanAlaska CEO, Cory Belyk, comments, \"Completion of this transaction gives CanAlaska and its shareholders a concrete and tangible NI43-101 compliant high-grade sulphide nickel resource in a very prolific nickel belt, located in a stable and secure mining jurisdiction in central Canada. The Mel deposit acquisition perfectly compliments CanAlaska's existing district-scale nickel portfolio in Manitoba providing the Company with optionality on the path forward to building value for our shareholders. Class 1 nickel deposits of this scale and upside potential are difficult to find as companies seek to position nickel portfolios within an ever-tightening nickel supply market. CanAlaska shareholders are now extremely well positioned in several critical metals to take advantage of an electrified clean-energy future.\"TransactionDetails of this transaction were previously announced on March 6, 2023 and May 4, 2023. As part of the purchase price, the Company issued 2,000,000 shares to the vendor. The shares are subject to a hold period expiring September 13, 2023 (the \"Hold Period Expiry Date\") under applicable securities laws. The parties have also agreed to voluntary resale restrictions thereafter with 25% (500,000) of the shares released from resale restrictions on the Hold Period Expiry Date and the balance being released in three tranches of 500,000 on each of the dates that is 2, 4 and 6 months after the Hold Period Expiry Date. Notwithstanding the foregoing, the vendor will have the right to sell, transfer or otherwise dispose of all (but not less than all) of the shares in a block trade at any time in its sole discretion after the Hold Period Expiry Date. Other NewsThe Company will be attending the 121 Mining Investment...