Canada Nickel gets $10 million loan facility via Auramet

By Marisa Wong

Los Angeles, Sept. 29 – Canada Nickel Co. Inc. announced it arranged a $10 million loan facility with Auramet that is expected to close on or before Oct. 14, according to a press release.

The loan will be due Jan. 14, 2023, will carry an interest rate of 1% per month and will be subject to a 2% arrangement fee.

At closing, Auramet will also receive 325,000 one-year warrants with a strike price of C$1.52 per share. The warrants and the underlying shares will be subject to a four-month hold period.

Closing of the loan facility is subject to customary conditions, including approval from TSX Venture Exchange.

The nickel and cobalt company is based in Toronto.

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