TORONTO, Feb. 6, 2024
/CNW/ - Canada Nickel Company Inc. ("Canada Nickel" or the
"Company") (TSXV: CNC) (OTCQX: CNIKF) has completed its
previously announced equity investment by Samsung SDI Co., Ltd.
("Samsung SDI") for aggregate gross proceeds of US$18.5 million (see Canada Nickel press release
dated January 19, 2024). Samsung SDI
has subscribed for 15.6 million common shares of the Company at
C$1.57 per share. Samsung SDI now
holds 8.7% of the issued and outstanding common shares of the
Company.
About Samsung SDI
Samsung SDI is a manufacturer of rechargeable batteries for the
IT industry, automobiles, and energy storage systems ("ESS"), as
well as cutting-edge materials used to produce semiconductors and
displays. Samsung SDI's executive managers and staff members focus
efforts to develop the next generation's growth drivers in order to
secure Samsung SDI's place as a creative leader in the energy and
materials industry.
About Canada Nickel
Canada Nickel Company Inc. is advancing the next generation of
nickel-sulphide projects to deliver nickel required to feed the
high growth electric vehicle and stainless steel markets. Canada
Nickel Company has applied in multiple jurisdictions to trademark
the terms NetZero Nickel™, NetZero Cobalt™ and NetZero Iron™ and is
pursuing the development of processes to allow the production of
net zero carbon nickel, cobalt, and iron products. Canada Nickel
provides investors with leverage to nickel in low political risk
jurisdictions. Canada Nickel is currently anchored by its 100%
owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart
of the prolific Timmins-Cochrane mining camp. For more information,
please visit www.canadanickel.com.
Cautionary Note and Statement Concerning Forward Looking
Statements
This press release contains certain information that may
constitute "forward-looking information" under applicable Canadian
securities legislation. Forward looking information includes,
but is not limited to, the potential of Crawford; potential size of
carbon storage facilities and ability to be a net negative carbon
footprint; mineral resource estimates and mineral reserve
estimates; ability to realize on projected economic estimates,
including EBITDA, NPV, IRR, all-in sustaining costs, free cash flow
and C1 cash costs; scale, capital costs, operating costs and life
of mine projections; potential to commercialize the IPT Carbonation
process; timing of receipt of permits and commencement of
construction and initial production; eligibility for Canadian
federal refundable tax credits; the ability to sell marketable
materials; strategic plans, including future exploration and
development results; and corporate and technical objectives.
Forward-looking information is necessarily based upon several
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking
information. Factors that could affect the outcome include,
among others: future prices and the supply of metals,
the future demand for metals, the results of drilling, inability to
raise the money necessary to incur the expenditures required
to retain and advance the property, environmental liabilities
(known and unknown), general business, economic,
competitive, political and social uncertainties, results of
exploration programs, risks of the mining industry, delays in
obtaining governmental approvals, failure to obtain regulatory or
shareholder approvals, and the impact of COVID-19 related
disruptions in relation to the Company's business operations
including upon its employees, suppliers, facilities and other
stakeholders. There can be no assurance that such information
will prove to be accurate, as actual results and 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 given as of the date
hereof and is based upon the opinions and estimates of management
and information available to management as at the date
hereof. Canada Nickel disclaims any intention or obligation
to update or revise any forward-looking information, whether
because 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 policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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SOURCE Canada Nickel Company Inc.