Canada Nickel Co Inc - CNIKF STOCK NEWS

Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) has secured a $3.4 million federal funding to advance its proprietary In-Process Tailings (IPT) Carbonation technology at the pilot plant level. The innovative process transforms nickel mining tailings into a permanent carbon storage solution, for which the company has filed a patent application.

The company's Crawford Nickel Sulphide Project is designed to become one of Canada's largest carbon storage facilities. Once operational, the project has the potential to sequester up to 1.5 million tonnes of CO2 annually during peak production and is expected to store 54 million tonnes over its 41-year life span. The funding will be provided through Natural Resources Canada's Energy Innovation Program, supporting the government's goals of reducing greenhouse gas emissions and fostering clean energy technologies.

Canada Nickel Company (TSXV: CNC) (OTCQB: CNIKF) has filed a NI 43-101 technical report on SEDAR+ for its Reid Nickel Sulphide Project near Timmins, Ontario. The report confirms the initial mineral resource estimate announced on December 23, 2024, with an effective date of December 5, 2024.

The Reid project represents the second of eight additional resources expected to be published by mid-2025. According to CEO Mark Selby, the Reid resource is significantly larger than the initial Crawford resource and features a favorable strip ratio of 1.2. The project's target footprint is more than double the size of the company's flagship Crawford Project, highlighting the potential of the Timmins Nickel District.

Canada Nickel (TSXV: CNC) (OTCQB: CNIKF) announced an extension to the closing date of their $20 million Convertible Note agreement with Taykwa Tagamou Nation (TTN). The transaction, which was initially announced on December 16, 2024, is now expected to close by February 14, 2025. The completion remains subject to TSX Venture Exchange approval and other required third-party consents.

Canada Nickel announced positive exploration results from multiple properties in the Timmins Nickel District. Key highlights include:

- Midlothian: Best regional result with 470 meters of 0.31% nickel, including 13.5 meters of 0.41% nickel

- Bannockburn: Eight holes with well-mineralized intervals, five containing >0.3% nickel

- Deloro: Eleven holes with mineralized intervals, including 371 meters of 0.27% nickel

- Nesbitt: Drilling yielded 382 meters of 0.22% nickel

The company completed over 118,000 meters of drilling on 14 properties during its 2024 campaign. All properties are within 100 kilometers of the Timmins mining camp. The company expects to publish a total of eight additional regional resources by mid-2025, including resources at Bannockburn, Mann Central, Mann West, Midlothian, Nesbitt, and Texmont.

Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) has been awarded $500,000 from Ontario's Critical Minerals Innovation Fund to support the development of its nickel processing facility through NetZero Metals Inc. The facility, planned near the Crawford Nickel Sulphide Project in Timmins, Ontario, will develop a process for converting nickel concentrate into battery-essential nickel and nickel-cobalt products.

The facility will utilize biochar, a renewable reductant, to replace conventional coal-based materials, reducing carbon intensity. When fully operational, the plant is expected to produce over 75,000 tonnes of nickel annually. The company is collaborating with Kingston Process Metallurgy to advance the design and testing of this innovative processing technology. The funding will support process validation through lab and pilot-scale metallurgical testing using representative feed samples and Ontario-produced biochar.

Canada Nickel (TSXV: CNC) (OTCQX: CNIKF) has announced an extension of its US$15 million loan facility repayment with Auramet International from January 9, 2025, to March 14, 2025. The extension includes a fee of US$438,465 and the issuance of 1,750,000 warrants at a strike price of $0.96 per share with a 9-month expiry. The company will cancel 750,000 previously issued warrants.

The loan will carry a 1.25% monthly interest rate during the extension period, with interest on the original loan amount deferred to March 14, 2025. The extension aims to allow the company to complete various strategic financing initiatives. The arrangement is subject to TSX Venture Exchange approval.

Canada Nickel (TSXV: CNC) (OTCQB: CNIKF) has signed two key definitive agreements on January 6, 2025. The first agreement, with Noble Mineral Exploration, involves creating a new private company (ExploreCo) to consolidate their nickel projects northeast of Timmins, Ontario. This transaction is expected to close by January 31, 2025.

The second agreement secures an option to acquire 32,000 acres of surface rights in Crawford and surrounding townships, important for the Crawford Nickel Sulphide project development. As part of this deal, Canada Nickel will issue 5.5 million shares and transfer 47,750 acres of mining rights in Kingsmill and Mabee townships to the Surface Rights Holder. The option can be exercised by December 31, 2026, with the possibility of five annual extensions.

Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) has joined the federal government's Equal by 30 campaign, aimed at advancing gender equality in the mining industry by 2030. The campaign focuses on achieving equal pay, leadership, and opportunities for women in the clean energy transition sector.

Currently, women represent only 16% of the mining industry workforce, compared to 48% across other industries. Canada Nickel demonstrates higher representation with 33% women on its board and 32% women in its workforce. The company plans to implement a phased DEI program over the next 12-36 months, establish relationships with organizations like 'Women in Mining', and conduct annual market analyses to ensure fair compensation. Additionally, the company will provide comprehensive workplace harassment prevention training for all employees.

Canada Nickel (TSXV: CNC) (OTCQB: CNIKF) has completed a non-brokered private placement, raising C$4,002,000 through the issuance of 3,480,000 flow-through shares at C$1.15 per share. The proceeds will fund eligible resource exploration expenses, including Canadian Exploration expenses and flow-through critical mineral mining expenditures.

The company plans to use these funds to continue its exploration program through the first half of 2025, focusing on the Timmins Nickel District. Their goals include upgrading initial mineral resources at Reid and Deloro, and developing their Bannockburn high-grade discovery. Canada Nickel aims to publish eight mineral resources for their Timmins Nickel District properties by mid-2025.