Canada Nickel Expands Loan Agreement as it Prepares for Future Financing Challenges

Canada Nickel Company Provides Financial Update

On November 9, 2026, Canada Nickel Company Inc., a firm committed to advancing nickel-sulfide projects, announced a significant update regarding its loan repayment structure. Originally unveiled on February 6, 2026, the repayment of the loan from Auramet International, Inc. has now been extended from November 9, 2026, to February 9, 2027. This modification comes alongside a reduction in the total loan amount from $32 million to $27,777,299, reflecting a portion of the principal that has already been repaid.

Mark Selby, CEO and Director of Canada Nickel, expressed his satisfaction with Auramet's continued support during these challenging times for the nickel market. Selby remarked, "This extension aligns with our expectations on the completion of various financing initiatives. We are actively engaging with partners for offtake and joint ventures, while also exploring government funding at both provincial and federal levels. Our aim remains to reach a construction decision by 2027."

Loan Extension Details

As part of the loan's extension, Canada Nickel will incur an extension fee totaling $694,432. Furthermore, the company will grant Auramet 7,500,000 common share purchase warrants, each warrant being exercisable for one share at $1.10, a 10% premium compared to the 5-day volume weighted average price (VWAP) closing on November 6, 2026. This adjustment, however, is pending approval from the TSX Venture Exchange.

In light of this extension, the previously issued 5,500,000 common share purchase warrants with an exercise price set at $1.52 will be nullified as per the requirements set by the TSX Venture Exchange. This strategic move should assist in maintaining equity while addressing financial overheads.

Additional Company Insights

Further developments are underway regarding Canada Nickel's dealings. Following prior announcements in October 2024 and November 2024, Canada Nickel has officially cancelled its engagement agreement with a third-party service provider. This withdrawal follows the issuance of 73,529 common shares at a reported price of $1.02 per share for the services rendered in the period leading up to October 31, 2024. Canada Nickel has confirmed that no additional shares will be issued under this agreement moving forward.

About Auramet and Canada Nickel

Auramet is recognized as one of the world's leading precious metals merchants, having facilitated over $1.5 billion in financing facilities since its establishment in 2004. The company's extensive services include physical metals trading and project finance advisory, ultimately supporting participants in the precious metals supply chain.

Meanwhile, Canada Nickel is on track to meet growing demands in the electric vehicle and stainless steel markets by advancing its Crawford Nickel-Cobalt Sulphide Project. The company is actively pursuing a trademark for its groundbreaking NetZero Nickel™, NetZero Cobalt™, and NetZero Iron™ initiatives, aiming to produce nickel, cobalt, and iron with zero net carbon emissions. Emerging as a leader in responsible mining, Canada Nickel is strategically positioned in low-political risk jurisdictions, enhancing its appeal to potential investors.

In conclusion, as Canada Nickel navigates the complexities of the current nickel market, the company's recent initiatives and partnerships signal robust preparation for future growth and sustainability in the sector.

For further inquiries or details, please reach out to:
Mark Selby
CEO
Phone: 647-256-1954
Email: [email protected]