Canada Nickel Consolidates and Expands Nickel Land Package, Acquires Sixth Nickel Target
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Canada Nickel Company has entered into a binding letter of intent with Noble Mineral Exploration to acquire the properties previously optioned by the company plus additional claims held by Noble. Under the terms of the transaction, the current option agreements with Noble will be terminated and Canada Nickel will acquire 100 percent of the optioned claims and other interests in return for 3.5 million of the company’s common shares.
“Today’s announcement achieves several objectives for us. This acquisition provides us with 100 percent ownership of our five option properties, adds a sixth property, and allows us to both expand and consolidate Crawford’s overall footprint, which is an important step given the scale of the contemplated operation. This acquisition effectively consolidates all of the key nickel targets within Noble’s Project 81 land package allowing Noble to focus on the multiple gold/VMS targets in its remaining substantial land package. The transaction also provides Canada Nickel an ability to buyback a portion of the royalties that are available on certain properties,” said Mark Selby, chair and CEO of Canada Nickel.
“The coming month will be one of the most exciting to date in our short company history. We will receive results from our drilling on the Crawford extensions as assay backlogs finally begin to clear, receive our first results from exploration targets at MacDiarmid, and finalize and release our PEA results in advance of a conference call on May 20, 2021 at 10am EDT to discuss these results in more detail,” added Selby.
About Canada Nickel Company
Canada Nickel Company Inc. is advancing the next generation of nickel-cobalt sulphide projects to deliver nickel and cobalt 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 and cobalt in low political risk jurisdictions. Canada Nickel is currently anchored by its 100 percent owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp.
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