Canada Nickel Signs Definitive Agreements For Creation of ExploreCo and Consolidation of Crawford Surface Rights
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 (TSXV: CNC) (OTCQB: CNIKF) ha firmato due importanti accordi definitivi il 6 gennaio 2025. Il primo accordo, con Noble Mineral Exploration, riguarda la creazione di una nuova società privata (ExploreCo) per consolidare i loro progetti sul nickel a nord-est di Timmins, Ontario. Si prevede che questa transazione si concluda entro il 31 gennaio 2025.
Il secondo accordo garantisce un'opzione per acquisire 32.000 acri di diritti di superficie a Crawford e nei comuni circostanti, fondamentale per lo sviluppo del progetto Crawford Nickel Sulphide. Nell'ambito di questo accordo, Canada Nickel emetterà 5,5 milioni di azioni e trasferirà 47.750 acri di diritti minerari nei comuni di Kingsmill e Mabee al Titolare dei Diritti di Superficie. L'opzione può essere esercitata entro il 31 dicembre 2026, con la possibilità di cinque proroghe annuali.
Canada Nickel (TSXV: CNC) (OTCQB: CNIKF) ha firmado dos acuerdos definitivos clave el 6 de enero de 2025. El primer acuerdo, con Noble Mineral Exploration, implica la creación de una nueva compañía privada (ExploreCo) para consolidar sus proyectos de níquel al noreste de Timmins, Ontario. Se espera que esta transacción se cierre para el 31 de enero de 2025.
El segundo acuerdo asegura una opción para adquirir 32,000 acres de derechos de superficie en Crawford y los pueblos circundantes, importante para el desarrollo del proyecto Crawford Nickel Sulphide. Como parte de este acuerdo, Canada Nickel emitirá 5.5 millones de acciones y transferirá 47,750 acres de derechos mineros en los pueblos de Kingsmill y Mabee al Titular de los Derechos de Superficie. La opción puede ejercerse hasta el 31 de diciembre de 2026, con la posibilidad de cinco prórrogas anuales.
캐나다 니켈 (TSXV: CNC) (OTCQB: CNIKF)는 2025년 1월 6일 두 가지 주요 최종 계약을 체결했습니다. 첫 번째 계약은 Noble Mineral Exploration과 체결되었으며, Timmins, Ontario 북동쪽에 있는 니켈 프로젝트를 통합하기 위해 새로운 사기업(ExploreCo)을 설립하는 것을 포함합니다. 이 거래는 2025년 1월 31일까지 완료될 것으로 예상됩니다.
두 번째 계약은 Crawford 및 주변 읍면에서 32,000에이커의 표면 권리를 인수할 수 있는 옵션을 확보합니다. 이는 Crawford Nickel Sulphide 프로젝트 개발에 중요합니다. 이번 거래의 일환으로, 캐나다 니켈은 550만 주를 발행하고 Kingsmill 및 Mabee 읍의 47,750에이커의 광산 권리를 표면 권리 보유자에게 이전합니다. 이 옵션은 2026년 12월 31일까지 행사할 수 있으며, 연간 5회의 연장 가능성이 있습니다.
Canada Nickel (TSXV: CNC) (OTCQB: CNIKF) a signé deux accords définitifs clés le 6 janvier 2025. Le premier accord, avec Noble Mineral Exploration, concerne la création d'une nouvelle société privée (ExploreCo) pour consolider leurs projets de nickel au nord-est de Timmins, Ontario. Cette transaction devrait être finalisée d'ici le 31 janvier 2025.
Le deuxième accord garantit une option d'acquisition de 32 000 acres de droits de surface à Crawford et dans les municipalités environnantes, ce qui est important pour le développement du projet Crawford Nickel Sulphide. Dans le cadre de cet accord, Canada Nickel émettra 5,5 millions d'actions et transférera 47 750 acres de droits miniers dans les municipalités de Kingsmill et Mabee au Titulaire des Droits de Surface. L'option peut être exercée d'ici le 31 décembre 2026, avec la possibilité de cinq prolongations annuelles.
Canada Nickel (TSXV: CNC) (OTCQB: CNIKF) hat am 6. Januar 2025 zwei wichtige endgültige Vereinbarungen unterzeichnet. Die erste Vereinbarung mit Noble Mineral Exploration betrifft die Gründung eines neuen Privatunternehmens (ExploreCo), um ihre Nickelprojekte nordöstlich von Timmins, Ontario, zu konsolidieren. Es wird erwartet, dass diese Transaktion bis zum 31. Januar 2025 abgeschlossen ist.
Die zweite Vereinbarung sichert eine Option zum Erwerb von 32.000 Acres an Oberflächenrechten in Crawford und den umliegenden Gemeinden, die für die Entwicklung des Crawford Nickel Sulphide Projekts wichtig sind. Im Rahmen dieser Vereinbarung wird Canada Nickel 5,5 Millionen Aktien ausgeben und 47.750 Acres an Bergbaurechten in den Gemeinden Kingsmill und Mabee an den Oberflächenrechtsinhaber übertragen. Die Option kann bis zum 31. Dezember 2026 ausgeübt werden, mit der Möglichkeit von fünf jährlichen Verlängerungen.
- Secured option to acquire 32,000 acres of surface rights essential for Crawford project development
- Strategic consolidation of mining rights through ExploreCo formation
- Simplified future development pathway for Crawford and nearby properties
- 5.5 million shares issuance causing potential shareholder dilution
- Additional undisclosed consideration required for surface rights option exercise
- Transfer of 47,750 acres of mining rights to Surface Rights Holder
Mark Selby, CEO said, "Today's announcements secure access to 32,000 acres of surface rights and is another critical step for the Company as we complete our permitting and move toward a construction decision on Crawford in 2025. As part of the surface rights agreement, the Company will transfer 47,750 acres of mining rights in Kingsmill and Mabee townships—where no known exploration targets exist—to the Surface Rights Holder. This transfer aims to create future certainty over a substantial area of land, facilitating the effective development of sustainable forestry and wildlife habitat preservation. We are proud of our progress in unlocking the potential of the Crawford project and the Timmins Nickel District, building a future that benefits the environment and supports future generations."
ExploreCo Subsidiary Formation and Consolidation Transaction
Per the prior news release on July 8, 2024, Canada Nickel and Noble have now entered into a definitive agreement whereby Canada Nickel and Noble will contribute certain mining properties, including the existing Mann joint venture, into a new private company ("ExploreCo") to consolidate their respective interests in the portfolio of nickel projects northeast of
The transaction and formal formation of ExploreCo is expected to close by January 31, 2025 and is subject to any required approvals of the TSX Venture Exchange (the "TSXV").
Surface Rights Transaction
Canada Nickel has entered into a definitive agreement with the Surface Rights Holder (the "Surface Rights Transaction") for an option to acquire 32,000 acres of surface rights in Crawford and surrounding townships. As part of the transaction, Canada Nickel has agreed to issue 5.5 million shares and will transfer mining rights (not required for any exploration target) to approximately 47,750 acres in Kingsmill and Mabee townships. The Surface Rights Transaction is subject to the approval of the TSXV. Additional consideration will be paid to exercise the option on a construction decision. The Company has the right to exercise the option by December 31, 2026 and can extend the option annually up to a further five years for an additional payment for each extension. The Surface Rights Holder has asked that all other terms remain confidential. The additional consideration to acquire the surface rights is not material in the context of the overall Crawford project capital cost and the extension payment is also not material.
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 NickelTM, NetZero CobaltTM, NetZero IronTM 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. Generally, forward-looking information can be identified by the use of forward looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward looking information in this news release includes, but is not limited to: the use of proceeds of the Offering; the timing and ability of the Company, if at all, to obtain final approval of the Offering from the TSX Venture Exchange; the tax treatment of the FT Shares; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; upgrading existing mineral resources; publishing new mineral resources on additional properties, including the timing thereof; and statements regarding exploration results, exploration plans and other corporate and technical objectives. Forward-looking information is necessarily based upon a number of 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 Company's properties, 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, and 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 as a result 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/canada-nickel-signs-definitive-agreements-for-creation-of-exploreco-and-consolidation-of-crawford-surface-rights-302344242.html
SOURCE Canada Nickel Company Inc.
FAQ
What surface rights did Canada Nickel (CNIKF) secure in the January 2025 agreement?
How many shares will Canada Nickel (CNIKF) issue for the Surface Rights Transaction?
When is the deadline for Canada Nickel (CNIKF) to exercise the surface rights option?
What is ExploreCo and when will it be formally established?
