Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF) today announced receipt of a letter of interest (“LOI”) from Export Development Canada (“EDC”). The letter, signed on Aug. 30, 2024, states EDC’s interest in providing long term debt financing of up to US$500 million of project debt, as Mandated Lead Arranger, for development of the Crawford Nickel Sulphide Project in Timmins, Ontario (“the Project”).
“We are very pleased with the LOI as it marks an important milestone towards securing a full financing package for Crawford. We look forward to working closely with EDC to complete the due diligence and negotiation process to secure this funding,” said Mark Selby, CEO of Canada Nickel. “The LOI, along with the refundable critical minerals and carbon capture and storage tax credits in excess of US$600 million that the company expects to qualify for the initial phase of Crawford’s development, demonstrates the significant commitment of the federal government to support this critical project as a high priority. Additionally, we continue to make good progress with our financial advisors Deutsche Bank, Scotiabank and Cutfield Freeman to secure the remaining project funding required to begin construction when permits are received, which we expect to be by mid 2025.”
To view the full press release, visit https://ibn.fm/fdXzD
About Canada Nickel Company Inc.
Canada Nickel 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 has applied in multiple jurisdictions to trademark the terms NetZero Nickel(TM), NetZero Cobalt(TM) and 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 Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit www.CanadaNickel.com.
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