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- Invested by Samsung SDI 18.5 million USD Acquired approximately 15.6 million shares of Canadian Nickel, becoming an 8.7% shareholder.
- Samsung SDI has been granted the right to purchase a 10% stake in the Crawford project. 105 million USD After final construction decision
- Samsung SDI will be granted certain offtake rights to the Crawford Project’s nickel-cobalt products, subject to the completion of its 10% equity investment in the Crawford Project.
Toronto, January 12, 2024 /PRNewswire/ – canada nickel company inc. (“canada nickel” or “company“) (TSXV: CNC) (OTCQX: CNIKF) today announces that the Company has entered into a subscription agreement with Samsung SDI Co., Ltd. (“Samsung SDI”). 18.5 million USD investment in Canada nickel price 1.57 Canadian dollar per common share. Upon completion of the private placement contemplated in the underwriting agreement, Samsung SDI will own approximately 15.6 million Canadian Nickel common shares, representing approximately 8.7 of the company’s outstanding shares on an undiluted basis. It corresponds to %.
“We are very pleased to welcome Samsung SDI as an investor and project partner for Canada Nickel,” he said. mark selby, CEO of Canadian Nickel Corporation. “As we move forward with the Crawford Nickel Sulphide Project, it is important that we form a long-term partnership with a company that truly understands how important this production is to the electric vehicle supply chain. North America and Europe. As one of the world’s leading electric vehicle battery manufacturers, Samsung SDI not only understands our important role in these supply chains; Canada Nickel’s vision for responsible, large-scale net-zero carbon nickel production. Together, our companies are paving the way to a more sustainable future. ”
“We are pleased to partner with Canada Nickel through this opportunity,” said Ikhyun Kim, Executive Vice President of Samsung SDI. “We look forward to working with Canada Nickel and contributing to the growing battery manufacturing industry through this partnership.”
Samsung SDI is a manufacturer of advanced materials used in the manufacturing of semiconductors and displays, as well as rechargeable batteries for the IT industry, automotive, and energy storage systems (“ESS”). Samsung SDI’s executive managers and staff members are focused on developing the next generation of growth drivers to ensure Samsung SDI’s position as a creative leader in the energy and materials industry.
SUBSCRIPTION AGREEMENT AND INVESTOR RIGHTS AGREEMENT
The Subscription Agreement and Investor Rights Agreement contain certain customary terms and conditions. As long as Samsung SDI owns 7.5% or more of its outstanding common stock, Samsung SDI may not be able to convert, exchange or exercisable into common stock or common stock in order to maintain its stock ownership. It has rights proportional to future issuance of a security. Our stock.
Project investment and take-over rights
Upon completion of the private placement, Canada Nickel will grant Samsung the right to purchase a 10% stake in the Crawford project. 105 million USD, exercisable upon final construction decision. By exercising this right, Samsung SDI will have the right to acquire 10% of the nickel-cobalt production from the Crawford Project during its lifetime and 15% of the nickel-cobalt production from the Crawford Project, extendable by mutual agreement. Will be entitled to an additional 20% of production. . Off-take rights are subject to mutually agreed terms.
The private placement and related agreements are subject to customary closing conditions, including TSX Venture Exchange approval, and are targeted to close on or about the same date. January 31, 2024.
advisor
Cutfield Freeman, Deutsche Bank, Harp Capital and Scotiabank served as financial advisors to Canada Nickel.
About Canada Nickel
Canada Nickel Company Inc. is pursuing next-generation nickel sulfide projects to provide the nickel needed to supply the high-growth electric vehicle and stainless steel markets. Canada Nickel Company has applied to trademark the terms NetZero Nickel™, NetZero Cobalt™ and NetZero Iron™ in multiple jurisdictions, enabling the production of net-zero carbon nickel, cobalt and iron products. We are proceeding with process development. Canadian Nickel provides investors with leverage into nickel in jurisdictions with low political risk. Canada Nickel is currently based in the heart of the prolific region with its wholly owned flagship Crawford Nickel Cobalt Sulphide Project. Timmins–cochrane mining camp. For more information, please visit www.canadanickel.com.
For more information, please contact us below.
mark selbyCEO
Phone: 647-256-1954
Email: [email protected]
Cautionary Notes and Statements Regarding Forward-Looking Statements
This press release contains certain information that may constitute “forward-looking information” under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, Crawford’s potential. The potential size of carbon storage facilities and their ability to have a net negative carbon footprint. Mineral Resource Estimates and Mineral Reserve Estimates. the ability to realize projected economic estimates, including EBITDA, NPV, IRR, overall carrying costs, free cash flow and C1 cash costs; Forecasting scale, capital costs, operating costs, and mine life. Potential to commercialize IPT carbonation process. timing of receipt of permits, commencement of construction and initial production; Eligibility for Canadian federal refundable tax credits. our ability to sell marketable materials; Strategic plans including future exploration and development results. and corporate and technical goals. Forward-looking information is necessarily based on a number of assumptions believed to be reasonable, but is subject to known and unknown risks, uncertainties and other factors that may differ from actual results. Future events may differ materially from those expressed or implied by such forward-looking statements. I’m looking for information. Factors that could affect results include, among other things, future prices and supplies of metals, future demand for metals, results of drilling, and the inability to obtain the necessary financing for expenditures necessary to maintain and expand the assets; , environmental debt, etc. (known and unknown), general business, economic, competitive, political and social uncertainties, the results of exploration programs, mining risks, delays in obtaining governmental approvals, risks of obtaining regulatory or shareholder approvals; failures and disruptions related to our business operations, including the impact of COVID-19 on our employees, suppliers, facilities and other stakeholders; There can be no assurance that such information will prove to be accurate, as actual results or future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is provided as of the date of this press release and reflects management’s opinions and estimates and information available to management as of the date of this press release. Based on. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Canada Nickel Company Inc.
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