Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF) today announced its entry into a binding letter of Intent (“LOI”) with Noble Mineral Exploration Inc., dated July 5, 2024, whereby Canada Nickel and Noble will contribute certain mining properties, including the existing Mann joint venture, into a new private company (“ExploreCo”). As detailed in the announcement, the move will consolidate the companies’ respective interests in the portfolio of nickel projects northeast of Timmins, Ontario. “Today is the first of a set of transactions designed to unlock value from our significant asset portfolio,” said Mark Selby, CEO of Canada Nickel. “The creation of ExploreCo will facilitate the ability to realize the future value of these properties that are not currently recognized in Canada Nickel’s market value. This transaction also allows the company to consolidate the surface rights, remaining claims and patents around the Crawford Nickel Sulphide Project to simplify the development of Crawford and our future projects.”
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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-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit www.CanadaNickel.com.
NOTE TO INVESTORS: The latest news and updates relating to CNIKF are available in the company’s newsroom at https://ibn.fm/CNIKF
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