TORONTO, March 17, 2021 /CNW/ - Canada Nickel Company Inc.
(TSXV: CNC) (OTCQB: CNIKF) ("Canada Nickel" or the
"Company") today announced that it is accelerating the
expiry date of its common share purchase warrants (the
"Warrants") issued on September 30,
2020 under the warrant indenture (the "Warrant
Indenture") between TSX Trust Company (the "Warrant
Agent") and the Company. Each of the warrants entitles the
holder thereof to acquire one common share of the Company at a
price of $2.10 per common share. As
of March 16, 2021, 1,822,750 of the
original 2,675,000 Warrants issued remain outstanding to be
exercised.
"The acceleration and exercise of these Warrants provides us
additional runway to continue our drill program at our Crawford
Nickel-Cobalt Sulphide Project, including our recently announced
MacDiarmid nickel target once
permits are received in early April, and progress the related
feasibility study due for completion by the end of 2021,"
commented Mark Selby, Chair and CEO
of Canada Nickel.
Accelerated Expiry Date
The Company is entitled under the Warrant Indenture to
accelerate the expiry date of the Warrants upon the occurrence of
an Early Expiry Event (as defined in the Warrant Indenture). The
Company has delivered to the Warrant Agent a notice of the
occurrence of such Early Expiry Event and its election to
accelerate the expiry date of the Warrants from September 30, 2022 to April 27, 2021 (the "Accelerated Expiry
Date").
Any Warrants that have not been exercised by 5:00 p.m. (Toronto time) on the Accelerated Expiry Date
will automatically expire and no longer be exercisable.
Any questions regarding this acceleration or the exercise of the
Warrants should be directed to the Company at: 647-256-1954 or
info@canadanickel.com.
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 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 and cobalt in low
political risk jurisdictions. Canada Nickel is currently anchored
by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project
in the heart of the prolific Timmins-Cochrane mining camp.
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, future exploration and development
results, and 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 property,
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, failure to obtain regulatory or
shareholder approvals, and the impact of COVID-19 related
disruptions in relation to the Company's business operations
including upon its employees, suppliers, facilities and other
stakeholders. 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.
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SOURCE Canada Nickel Company Inc.