#Canada #Toronto #Canada Nickel #Timmins Nickel #Flow-Through Shares

Canada Nickel Closes C$4 Million Private Placement

Canada Nickel Company Inc. has recently completed a private placement, raising a substantial amount of CAD 4 million through the issuance of 3.48 million flow-through shares. This offering, which was executed at a price of C$1.15 per share, signals strong investor support, particularly following the company's successful exploration activities in 2024.

Mark Selby, the CEO of Canada Nickel, expressed gratitude towards the investors and highlighted the importance of this funding. He stated, "After a highly successful exploration program in 2024, this financing allows us to continue to build on this success through the first half of 2025 as we continue to demonstrate the potential of the Timmins Nickel District." With plans to upgrade the initial mineral resources for both the Reid and Deloro projects, the company is optimistic about the prospects ahead. Additionally, they anticipate sharing results from eight mineral resources for their Timmins properties by mid-2025.

The proceeds from this offering will be strategically allocated to meet eligible resource exploration requirements, classified as either Canadian Exploration Expenses or flow-through critical mineral mining expenditures. The goal is to ensure that the total qualifying expenditures match or surpass the gross proceeds from the flow-through shares by the end of 2025. Investors are expected to be recognized for these expenses before December 31, 2024.

However, it’s essential to note that all securities issued under this offering will be subjected to a hold period of four months and one day from the closure date, adhering to the regulations of Canadian securities laws. This measure is standard in the private placement market and serves to protect initial investors while allowing the company to prepare for additional growth.

This recent funding achievement reflects the growing confidence in the nickel market, particularly as the global demand for nickel continues to soar, driven by the booming electric vehicle and stainless-steel sectors. With the increasing push for sustainability, Canada Nickel's focus on delivering net-zero carbon nickel could provide them a significant competitive edge within the industry as they pursue innovative and environmentally friendly practices.

About Canada Nickel

Canada Nickel Company Inc. is dedicated to the advancement of next-generation nickel-sulphide projects. Their flagship project, the Crawford Nickel-Cobalt Sulphide Project located in the Timmins-Cochrane mining camp, represents a key asset that underpins the company's efforts to capitalize on the high-growth markets for electric vehicle components and stainless-steel production. The company is also exploring trademarks such as NetZero NickelTM to emphasize their commitment to sustainable practices.

As Canada Nickel continues to position itself as a leader in the nickel industry, ongoing efforts to secure funding will be vital in achieving their ambitious goals. The future appears bright for the company, with strategic plans in place to expand its resource portfolio and meet the demands of a rapidly evolving market amidst the global push for greener energy solutions.