The Prospector News

Canada Nickel Closes Previously Announced US$15 Million Loan Facility with Auramet International, Inc.

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Canada Nickel Closes Previously Announced US$15 Million Loan Facility with Auramet International, Inc.

 

 

 

 

 

Canada Nickel Company Inc. (TSX-V: CNC) (OTCQX: CNIKF) announced that it has closed a secured loan facility with Auramet International, Inc. of US$15 million previously announced on June 24, 2024.

 

The loan is due January 9, 2025, carries an interest rate of 1.00% per month, and is subject to a 2.5% arrangement fee.  At closing, Auramet also received 750,000 1-year warrants with a strike price of $1.42 per common share. The loan is 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 are subject to a four month hold period under applicable Canadian securities laws. The Company expects to use the proceeds from the loan for working capital purposes.

 

About Auramet

 

Auramet is one of the largest physical precious metals merchants in the world with over US$20 billion in annual revenues and which provides a full range of services to all participants in the precious metals supply chain. Auramet is a private company established in 2004 by seasoned professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. Their business consists of three main activities: physical metals trading, metals merchant banking (including direct lending) and project finance advisory services. The company has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector. In fiscal year 2023 it purchased over 7 million ounces of gold, 126 million ounces of silver and 3 million ounces of PGMs, and has provided term financing facilities in excess of US$1 billion to date. Auramet is looking to grow its capital investment business in equity, royalties and streams in the precious metals and battery related metals mining space. Auramet is proud to have been awarded a Gold Medal the past two years for its ESG commitment by EcoVadis, the most trusted provider of ESG ratings with a network of more than 90,000 rated companies.

 

About Canada Nickel Company

 

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™, 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 July 10, 2024

Share this news article

MORE or "UNCATEGORIZED"


Revival Gold Advances Programs at Mercur and Completes Geophysics at Beartrack-Arnett

Revival Gold Inc. (TSX-V: RVG) (OTCQX: RVLGF) is pleased to anno... READ MORE

July 23, 2024

Alamos Gold Continues to Expand High-Grade Mineralization Near Existing Infrastructure Across the Island Gold Deposit Supporting Further Expected Growth in Mineral Reserves and Resources

Alamos Gold Inc. (TSX:AGI) (NYSE:AGI) reported new results from u... READ MORE

July 23, 2024

Ero Copper Achieves First Saleable Copper Concentrate Production and Initiates Ramp-up at the Tucumã Project

Ero Copper Corp. (TSX: ERO) (NYSE: ERO) is pleased to announce a ... READ MORE

July 23, 2024

NEVADA KING INTERCEPTS 6.28 G/T AU OVER 54.9M HOSTED ENTIRELY BY INTRUSIVE ROCKS, EXTENDS MINERALIZATION UNDERNEATH THE SOUTH QUARTZITE RIDGE OPENING UP EXTENSIVE NEW TARGET AREAS AT ATLANTA

Nevada King Gold Corp. (TSX-V: NKG) (OTCQX: NKGFF) is pleased to... READ MORE

July 23, 2024

Imperial Reports Drilling at Mount Polley Extends Mineralization 885 Metres Beneath Springer Pit

Imperial Metals Corporation (TSX:III) reports diamond drill resul... READ MORE

July 23, 2024

Copyright 2024 The Prospector News