Canada Nickel Provides Corporate Update
Canada Nickel (TSXV: CNC) (OTCQX: CNIKF) has announced an extension of its US$15 million loan facility repayment with Auramet International. The repayment date has been pushed from March 14, 2025, to April 25, 2025.
The extension comes with new terms including an extension fee of US$168,233 payable by April 25, 2025, and a monthly interest rate of 1.25% during the extension period. Additionally, the interest on the original loan amount has been deferred to the new repayment date.
Canada Nickel (TSXV: CNC) (OTCQX: CNIKF) ha annunciato un'estensione della scadenza di rimborso del suo prestito da 15 milioni di dollari statunitensi con Auramet International. La data di rimborso è stata posticipata dal 14 marzo 2025 al 25 aprile 2025.
L'estensione prevede nuove condizioni, tra cui una commissione di estensione di 168.233 dollari statunitensi da pagare entro il 25 aprile 2025 e un tasso di interesse mensile dell'1,25% durante il periodo di estensione. Inoltre, gli interessi sull'importo originale del prestito sono stati posticipati alla nuova data di rimborso.
Canada Nickel (TSXV: CNC) (OTCQX: CNIKF) ha anunciado una extensión de su préstamo de 15 millones de dólares estadounidenses con Auramet International. La fecha de reembolso se ha pospuesto del 14 de marzo de 2025 al 25 de abril de 2025.
La extensión viene con nuevas condiciones, incluyendo una tarifa de extensión de 168,233 dólares estadounidenses que debe pagarse antes del 25 de abril de 2025, y una tasa de interés mensual del 1.25% durante el período de extensión. Además, los intereses sobre el monto original del préstamo se han diferido a la nueva fecha de reembolso.
캐나다 니켈 (TSXV: CNC) (OTCQX: CNIKF)는 오라메트 인터내셔널과의 1,500만 달러 대출 상환 기한 연장을 발표했습니다. 상환 날짜는 2025년 3월 14일에서 2025년 4월 25일로 연기되었습니다.
이번 연장은 2025년 4월 25일까지 지급해야 하는 168,233달러의 연장 수수료와 연장 기간 동안 월 1.25%의 이자율을 포함한 새로운 조건을 가지고 있습니다. 또한, 원금에 대한 이자는 새로운 상환 날짜로 연기되었습니다.
Canada Nickel (TSXV: CNC) (OTCQX: CNIKF) a annoncé une prolongation de son prêt de 15 millions de dollars américains avec Auramet International. La date de remboursement a été repoussée du 14 mars 2025 au 25 avril 2025.
Cette prolongation s'accompagne de nouvelles conditions, y compris des frais de prolongation de 168 233 dollars américains à payer d'ici le 25 avril 2025, et un taux d'intérêt mensuel de 1,25 % pendant la période de prolongation. De plus, les intérêts sur le montant du prêt initial ont été reportés à la nouvelle date de remboursement.
Canada Nickel (TSXV: CNC) (OTCQX: CNIKF) hat eine Verlängerung seiner 15 Millionen US-Dollar Kreditfazilität mit Auramet International angekündigt. Das Rückzahlungsdatum wurde vom 14. März 2025 auf den 25. April 2025 verschoben.
Die Verlängerung kommt mit neuen Bedingungen, einschließlich einer Verlängerungsgebühr von 168.233 US-Dollar, die bis zum 25. April 2025 zu zahlen ist, und einem monatlichen Zinssatz von 1,25% während der Verlängerungsperiode. Darüber hinaus wurden die Zinsen auf den ursprünglichen Kreditbetrag auf das neue Rückzahlungsdatum verschoben.
- Successfully negotiated loan extension providing additional financial flexibility
- Gained time to complete strategic financing initiatives
- Company requires loan extension, indicating potential cash flow challenges
- Additional costs incurred through US$168,233 extension fee
- Higher interest expenses with 1.25% monthly rate during extension period
- Deferral of original loan interest payment suggests financial constraints
Mark Selby, CEO and Director of Canada Nickel Company, said "I am pleased that we are extending repayment of our loan with Auramet to April 25, 2025 allowing us to complete various strategic financing initiatives during this timeframe."
Loan Extension
An extension fee of
About Auramet
Auramet is one of the largest physical precious metals merchants in the world with over
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
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 approval of the TSX Venture Exchange, the use of proceeds from the loan, the completion of any strategic financing initiatives, the ability of the Company to deliver nickel required to feed the high growth electric vehicle and stainless steel markets, and the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Readers should not place undue reliance on forward looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canada Nickel to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: inability to repay the loan or comply with the covenants set out in the loan agreement; the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in applicable laws; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into production, there is no assurance that operations will be profitable. Although Canada Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Canada Nickel disclaims any obligation to update any forward looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. 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.