By Adriano Marchese


Canadian nickel-sulphide company Canada Nickel shares climbed Friday morning after the company said that Samsung SDI has invested $18.5 million to acquire a nearly 9% stake in the company.

Shares gained 2.5% to 1.62 Canadian dollars ($1.21) at 10:01 a.m. ET, from an earlier high of C$1.77.

The company entered into a subscription agreement for South Korean battery and electronic materials manufacturer Samsung SDI to acquire about 15.6 million shares in the company, giving it an 8.7% interest in the company at C$1.57 a share.

Additionally, Samsung SDI will receive the right to purchase a 10% equity in Canada Nickel's production coming out of the Crawford project in Timmins, Ontario.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

01-12-24 1021ET