Watch Canada Nickel Announces Receipt of Letter of Interest for up to US$500 million from Export Development Canada US500 News News

Important milestone in securing challenge financing for the Crawford Nickel Sulphide Project

TORONTO, Sept. 6, 2024 /PRNewstwine/ – Canada Nickel Company Inc. (“Canada Nickel” or the “Company“) (TSXV: CNC) (OTCQX: CNIKF) as of late introduced receipt of a Letter of Interest (“LOI”) from Export Development Canada (“EDC”), signed on August 30, 2024, mentioning its hobby in offering longer term debt financing of up to US$500 million of challenge debt, as Mandated Lead Arranger, for building of the Crawford Nickel Sulphide Project in Timmins, Ontario (“the Project”).  EDC may just imagine a debt tenor of up to eighteen years, topic to positive prerequisites. EDC’s participation within the Project financing is topic to the a success final touch of its rigorous due diligence procedure.

Mark Selby, CEO of Canada Nickel, stated, “We are very pleased with the LOI as it marks an important milestone towards securing a full financing package for Crawford.  We look forward to working closely with EDC to complete the due diligence and negotiation process to secure this funding.  The LOI, along with the refundable critical minerals and carbon capture & storage tax credits in excess of US$600 million that the Company expects to qualify for the initial phase of Crawford’s development, demonstrates the significant commitment of the federal government to support this critical project as a high priority.  Additionally, we continue to make good progress with our financial advisors Deutsche Bank, Scotiabank and Cutfield Freeman to secure the remaining project funding required to begin construction when permits are received, which we expect to be by mid 2025.”

About EDC

Export Development Canada (EDC) is a monetary Crown company devoted to serving to Canadian companies make an affect at house and in a foreign country. EDC has the monetary merchandise and information Canadian corporations want to optimistically input new markets, scale back monetary possibility and develop their trade as they move from native to world. Together, EDC and Canadian corporations are development a extra filthy rich, more potent and sustainable economic system for all Canadians.

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the following technology of nickel-sulphide tasks to ship nickel required to feed the prime expansion electrical car and chrome steel markets. Canada Nickel Company has carried out in more than one jurisdictions to trademark the phrases NetZero Nickel^TM, NetZero Cobalt^TM, NetZero Iron^TM and is pursuing the improvement of processes to permit the manufacturing of web 0 carbon nickel, cobalt, and iron merchandise. Canada Nickel supplies traders with leverage to nickel in low political possibility jurisdictions. Canada Nickel is these days anchored through its 100% owned flagship Crawford Nickel Sulphide Project within the center of the prolific Timmins–Cochrane mining camp. For additional information, please seek advice from www.canadanickel.com.

For additional knowledge, please touch:
Mark Selby
CEO
Phone: 647-256-1954
Email: [email protected] 

Cautionary Statement Concerning Forward-Looking Statements

This press free up incorporates positive knowledge that can represent “forward-looking information” below appropriate Canadian securities law. Forward browsing knowledge contains, however isn’t restricted to, the timing and availability of EDC and different challenge investment. Forward-looking knowledge is essentially primarily based upon a number of assumptions that, whilst regarded as affordable, are topic to identified and unknown dangers, uncertainties, and different components which might reason the real effects and long run occasions to vary materially from the ones expressed or implied through such forward-looking knowledge. Factors that might impact the end result come with, amongst others: long run costs and the availability of metals, the longer term call for for metals, the effects of drilling, lack of ability to lift the cash essential to incur the expenditures required to retain and advance the valuables, environmental liabilities (identified and unknown), basic trade, financial, aggressive, political and social uncertainties, effects of exploration methods, dangers of the mining business, delays in acquiring governmental approvals, failure to download regulatory or shareholder approvals. There can also be no assurance that such knowledge will end up to be correct, as exact effects and long run occasions may just vary materially from the ones expected in such knowledge. Accordingly, readers will have to no longer position undue reliance on forward-looking knowledge. All forward-looking knowledge contained on this press free up is given as of the date hereof and is primarily based upon the reviews and estimates of control and knowledge to be had to control as on the date hereof. Canada Nickel disclaims any goal or legal responsibility to replace or revise any forward-looking knowledge, whether or not as a result of of new knowledge. Neither TSX Venture Exchange nor its Regulation Services Provider (as that time period is outlined in insurance policies of the TSX Venture Exchange) accepts duty for the adequacy or accuracy of this free up.

SOURCE Canada Nickel Company Inc.

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