Canada Nickel arranges $10 million loan facility from Auramet

Chicago, Dec. 21 – Canada Nickel Co. Inc. arranged for a $10 million loan facility from Auramet for funding through the first quarter of 2022 while it continues to work through a strategic investor process, according to a press release.

The company continues to aggressively advance the Crawford Nickel Sulphide project.

Canada Nickel also says that it is in ongoing and constructive discussions with strategic investors, discussions that have been extended into the new year.

The loan is expected to close on or before Jan. 5.

The maturity date is April 5, 2022.

The interest rate is 1% per month, and there is an arrangement fee of 2% of the loan amount.

The company also issued 250,000 two-year warrants at a strike price of C$3.94 per share on the closing date.

Canada Nickel, based in Toronto, processes nickel and cobalt for the electric vehicle and stainless steel markets. Auramet is a precious metals merchant.

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