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Canada Nickel Announces Closing of Samsung SDI Equity Investment

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Canada Nickel Announces Closing of Samsung SDI Equity Investment

 

 

 

 

Canada Nickel Company Inc. (TSX-V: CNC) (OTCQX: CNIKF) has completed its previously announced equity investment by Samsung SDI Co., Ltd. for aggregate gross proceeds of US$18.5 million (see Canada Nickel press release dated January 19, 2024). Samsung SDI has subscribed for 15.6 million common shares of the Company at C$1.57 per share. Samsung SDI now holds 8.7% of the issued and outstanding common shares of the Company.

 

About Samsung SDI

 

Samsung SDI is a manufacturer of rechargeable batteries for the IT industry, automobiles, and energy storage systems, as well as cutting-edge materials used to produce semiconductors and displays. Samsung SDI’s executive managers and staff members focus efforts to develop the next generation’s growth drivers in order to secure Samsung SDI’s place as a creative leader in the energy and materials industry.

 

About Canada Nickel

 

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel 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™ and 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 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.

 

Posted February 6, 2024

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