An anonymous director reports

CANADA NICKEL CLOSES PREVIOUSLY ANNOUNCED US$12 MILLION LOAN FACILITY WITH AURAMET INTERNATIONAL, INC.

Canada Nickel Company Inc. has closed a secured loan facility with Auramet International Inc. of $12-million (U.S.) previously announced on Sept. 6, 2023. The proceeds will be used toward working capital and will allow the company to remain well financed to continue to advance permitting and detailed engineering activities.

The loan is due Dec. 18, 2023, carries an interest rate of 1.00 per cent per month and is subject to a 2.3-per-cent arrangement fee. Auramet also received 550,000 one-year warrants with a strike price of $1.24 per common share. The loan is subject to certain positive and negative covenants that are customary for a transaction of this nature. The warrants and the underlying shares will be subject to a four-month hold period under applicable Canadian securities laws.

About Auramet International Inc.

Auramet is one of the largest physical precious metals merchants in the world with over $20-billion (U.S.) 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 of combined industry experience. Its 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 2022, it purchased over five million ounces of gold, 78 million ounces of silver and 3.9 million ounces of PGMs (platinum group metals), and has provided term financing facilities in excess of $1-billion (U.S.) 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 for its ESG (environmental, social and governance) commitment by EcoVadis, the most trusted provider of ESG ratings with a network of more than 90,000 rated companies.

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 Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel, NetZero Cobalt and 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-per-cent-owned flagship Crawford nickel-cobalt sulphide project in the heart of the prolific Timmins-Cochrane mining camp.

We seek Safe Harbor.