Canada Nickel Company Inc. announced a private placement of bridge loan facility with returning investor, Auramet International, Inc. for the gross proceeds of $15,000,000 on June 24, 2024. The loan is due January 9, 2025, carries an interest rate of 1% per month, and is subject to a 2.5% arrangement fee. At closing, Auramet International, Inc. also received 750,000 one-year warrants with a strike price of $1.42 per common share.

The transaction is expected to close on or before July 9, 2024.The loan will be subject to such terms and conditions including certain specified positive and negative covenants that are customary for a transaction of this nature. The warrants and the underlying shares will be subject to a four month hold period under applicable Canadian securities laws. The closing of the loan facility is subject to customary conditions including the approval of the TSX Venture Exchange.