Canada Nickel Announces Receipt of Support Letter for up to $500 million from Leading Financial Institution
Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) has received a support letter from a leading financial institution expressing interest in providing up to C$500 million (US$370 million) in long-term debt financing for the Crawford Nickel Sulphide Project in Timmins, Ontario. This is in addition to the US$500 million letter of interest from Export Development Canada announced last week. Combined, these letters amount to approximately US$870 million of potential senior debt.
The company also expects to qualify for refundable critical minerals and carbon capture and storage tax credits exceeding US$600 million for Crawford's initial development phase. With these financial developments, Canada Nickel is well-positioned to secure the remaining project funding needed to begin construction when permits are received, expected by mid-2025.
Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) ha ricevuto una lettera di supporto da un'importante istituzione finanziaria che esprime interesse a fornire fino a 500 milioni di dollari canadesi (370 milioni di dollari statunitensi) in finanziamenti tramite debito a lungo termine per il progetto di solfuri di nichel Crawford a Timmins, Ontario. Questo si aggiunge alla lettera di interesse da 500 milioni di dollari statunitensi da Export Development Canada annunciata la settimana scorsa. Complessivamente, queste lettere ammontano a circa 870 milioni di dollari statunitensi di potenziale debito senior.
L'azienda si aspetta anche di qualificarsi per crediti d'imposta rimborsabili per minerali critici e per la cattura e lo stoccaggio di carbonio che superano i 600 milioni di dollari statunitensi per la fase di sviluppo iniziale di Crawford. Con questi sviluppi finanziari, Canada Nickel è ben posizionata per garantire il finanziamento rimanente necessario per iniziare la costruzione quando i permessi saranno ricevuti, previsti per metà del 2025.
Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) ha recibido una carta de apoyo de una importante institución financiera expresando interés en proporcionar hasta 500 millones de dólares canadienses (370 millones de dólares estadounidenses) en financiamiento de deuda a largo plazo para el Proyecto de Sulfuro de Níquel Crawford en Timmins, Ontario. Esto se suma a la carta de interés por 500 millones de dólares estadounidenses de Export Development Canada anunciada la semana pasada. En conjunto, estas cartas representan aproximadamente 870 millones de dólares estadounidenses de deuda senior potencial.
La empresa también espera calificar para créditos fiscales reembolsables por minerales críticos y captura y almacenamiento de carbono que superan los 600 millones de dólares estadounidenses para la fase de desarrollo inicial de Crawford. Con estos desarrollos financieros, Canada Nickel está bien posicionada para asegurar el financiamiento restante necesario para comenzar la construcción cuando se reciban los permisos, previstos para mediados de 2025.
캐나다 니켈 회사 (TSXV: CNC) (OTCQX: CNIKF)는 온타리오 주 팀민스에 있는 크로포드 니켈 황화물 프로젝트에 대해 주요 금융 기관으로부터 지원 서한을 받아 최대 5억 캐나다 달러 (3억 7천만 미국 달러)의 장기 채무 자금 조달에 대한 관심을 나타냈습니다. 이는 지난주에 발표된 캐나다 수출 개발 공사로부터의 5억 미국 달러의 관심 서한에 추가되는 것입니다. 두 서한을 합치면 약 8억 7천만 미국 달러의 잠재적 시니어 채무에 해당합니다.
회사는 또한 크로포드의 초기 개발 단계에 대해 6억 달러 이상의 환급 가능한 주요 광물 및 탄소 포집 및 저장 세액 공제를 받을 것으로 예상하고 있습니다. 이러한 재정적 발전 덕분에 캐나다 니켈은 허가가 받는 대로 건설을 시작하는 데 필요한 나머지 프로젝트 자금을 확보할 좋은 위치에 있습니다. 이는 2025년 중반에 예상됩니다.
Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) a reçu une lettre de soutien d'une institution financière de premier plan exprimant son intérêt à fournir jusqu'à 500 millions de dollars canadiens (370 millions de dollars américains) en financement par emprunt à long terme pour le projet de sulfure de nickel Crawford à Timmins, Ontario. Cela s'ajoute à la lettre d'intérêt de 500 millions de dollars américains d'Export Development Canada annoncée la semaine dernière. Ensemble, ces lettres représentent environ 870 millions de dollars américains de dette senior potentielle.
L'entreprise s'attend également à être admissible à des crédits d'impôt remboursables pour les minéraux critiques et pour la capture et le stockage du carbone dépassant 600 millions de dollars américains pour la phase de développement initiale de Crawford. Avec ces développements financiers, Canada Nickel est bien positionnée pour sécuriser le financement restant nécessaire pour commencer la construction lorsque les permis seront reçus, ce qui est prévu pour le milieu de 2025.
Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) hat ein Unterstützungsschreiben von einer führenden Finanzinstitution erhalten, die Interesse bekundet hat, bis zu 500 Millionen kanadische Dollar (370 Millionen US-Dollar) in langfristige Fremdfinanzierung für das Crawford-Nickelsulfid-Projekt in Timmins, Ontario, bereitzustellen. Dies kommt zusätzlich zu dem US-Dollar 500 Millionen Interesse-Schreiben von Export Development Canada, das letzte Woche angekündigt wurde. Zusammen ergeben diese Schreiben etwa 870 Millionen US-Dollar potenziellen vorrangigen Schulden.
Das Unternehmen erwartet außerdem, für rückzahlbare steuerliche Vorteile für kritische Mineralien sowie für CO2-Abscheidung und -speicherung, die 600 Millionen US-Dollar übersteigen, in der frühen Entwicklungsphase von Crawford qualifiziert zu werden. Mit diesen finanziellen Entwicklungen ist Canada Nickel gut positioniert, um die erforderliche Projektfinanzierung zu sichern, die benötigt wird, um mit dem Bau zu beginnen, sobald die Genehmigungen erteilt sind, die bis Mitte 2025 erwartet werden.
- Receipt of support letter for up to C$500 million (US$370 million) in long-term debt financing
- Combined potential senior debt of approximately US$870 million from two financial institutions
- Expected qualification for over US$600 million in refundable tax credits
- Progress towards securing project financing for Crawford Nickel Sulphide Project
- Final terms and conditions of financing still subject to further due diligence
- Project construction dependent on receiving permits by mid-2025
Additional milestone in securing project financing for the Crawford Nickel Sulphide Project
Mark Selby, CEO of Canada Nickel, said, "We are very pleased with this additional indication of interest as it is another substantial step towards advancing our financing package for Crawford. With last week's previously announced
About Canada Nickel Company
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™, 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
For further information, please contact:
Mark Selby
CEO
Phone: 647-256-1954
Email: info@canadanickel.com
Cautionary 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 ability to secure project financing, the timing and receipt of construction permits, the ability to commence construction at Crawford, and timing and availability of funding from Export Development Canada, other project funding and refundable tax credits. 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: the terms on which the Company is able to secure debt financing (if at all), 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. 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. 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.
FAQ
What is the total potential senior debt Canada Nickel (CNIKF) has secured for the Crawford project as of September 12, 2024?
When does Canada Nickel (CNIKF) expect to begin construction on the Crawford Nickel Sulphide Project?
How much in tax credits does Canada Nickel (CNIKF) expect to qualify for in the initial phase of Crawford's development?
Who are Canada Nickel's (CNIKF) financial advisors for securing project funding?
