Canada Nickel Announces $24 million Investment from Anglo American
Summary
"Our team is looking forward to working with Anglo American to identify opportunities to apply their industry leading mining innovation technology to add additional value to Crawford. "Anglo American is leading global mining company with a portfolio of world-class competitive operations and a broad range of future development options. This Agreement will remain in force until 12 months after the delivery of a sample of ore in an amount of at least one hundred (100) tonnes by Canada Nickel to Anglo American, expected by 2024. If Canada Nickel utilizes any of the Anglo American technologies, Anglo American shall have the offtake rights to 100% of the incremental quantity of nickel products, related products, and carbon credits produced utilizing these technologies.The completion of the private placement and related agreements is subject to customary closing conditions including the approval of the TSX Venture Exchange and is targeted to close on or about February 28, 2023.This investment is a first step in financing Crawford and complements the previously announced ongoing work by our financial advisors at Deutsche Bank and Scotiabank. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals, and the impact of COVID-19 related disruptions in relation to the Companys business operations including upon its employees, suppliers, facilities and other stakeholders.