Canada Nickel arranges $10 million mortgage with Auramet

The corporate is anchored by its 100% owned Crawford nickel-cobalt sulphide property, positioned within the Timmins-Cochrane mining camp of Ontario.

Final month, the Canadian nickel explorer expanded its footprint inside the province by buying or incomes into 13 further tasks inside a 95 km radius of the Crawford property.

In line with Canada Nickel, ongoing discussions with strategic traders for its tasks have been prolonged into the brand new 12 months, and the most recent financing ensures the corporate stays well-funded by means of the primary quarter, when the strategic investor course of is predicted to conclude.

The mortgage from Auramet will carry an rate of interest of 1% per 30 days and has an association charge of two% of the mortgage quantity and the issuing of 250,000 two-year warrants at a strike value of C$3.94 per share on the deadline. 

“Canada Nickel has made important strides over the previous 12 months by persevering with to ship promising drilling outcomes, delivering a sturdy preliminary financial evaluation, demonstrating important enhancements to our metallurgical efficiency, and consolidating a Timmins nickel district,” Mark Selby, chair and CEO of Canada Nickel, said in a press launch.

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Written by colin


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