Canada Nickel Company Inc. (TSX-V: CNC) (OTCQB: CNIKF) is pleased to announce the completion of a non-brokered private placement of an aggregate of  3,480,000 common shares of the Company that will qualify as “flow-through shares” (as defined in subsection 66(15) of the Income Tax Act (Canada)), at an issue price of C$1.15 per FT Share, for aggregate proceeds of C$4,002,000.

Mark Selby, CEO said, “After a highly successful exploration program in 2024, this financing allows us to continue to build on this success through the first half of 2025 as we continue to demonstrate the potential of the Timmins Nickel District, including upgrading the initial mineral resources we have published for both Reid and Deloro and building on this year’s high grade discovery at Bannockburn.  We look forward to publishing a total of eight mineral resources for our Timmins Nickel District properties by mid-2025.”

The gross proceeds from the Offering will be used by the Company to incur (or be deemed to incur) eligible resource exploration expenses that will qualify as (i) “Canadian Exploration expenses” (as defined in the Income Tax Act (Canada)), (ii) “flow-through critical mineral mining expenditures” (as defined in subsection 127(9) of the Income Tax Act (Canada)) and (iii) “eligible Ontario critical mineral exploration expenditures” within the meaning of subsection 103(4.1) of the Taxation Act, 2007 (Ontario). Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issuance of the FT Shares will be incurred (or deemed to be incurred) by the Company on or before December 31, 2025, and will be renounced by the Company to the initial purchasers of the Flow-Through Shares with an effective date no later than December 31, 2024.

All securities issued under the Offering will be subject to a hold period expiring four months and one day from the closing date of the Offering in accordance with applicable Canadian securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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^TM, NetZero Cobalt^TM, NetZero Iron^TM 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.