Mr. Mark Selby reports

CANADA NICKEL PROVIDES CORPORATE UPDATE

Canada Nickel Company Inc. has extended the repayment date of the $15-million (U.S.) loan facility announced July 9, 2024, with Auramet International Inc. from Jan. 9, 2025, to March 14, 2025.

Mark Selby, chief executive officer and director of Canada Nickel Company, said, "I am pleased that we are extending repayment of our loan with Auramet to March 14, 2025, allowing us to complete various strategic financing initiatives during this time frame."

Loan extension

An extension fee of $438,465 (U.S.) will be paid by March 14, 2025, and 1.75 million warrants with a strike price of 96 cents per share will be issued with a nine-month expiry. A total of 750,000 warrants previously issued with the initial loan will be cancelled. The loan will carry an interest rate of 1.25 per cent per month for the extension period. The interest payable on the original loan amount has also been deferred to March 14, 2025. The warrants and the underlying common shares are subject to a four-month hold period under Canadian securities laws. The extension is subject to TSX Venture Exchange approval.

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, 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.

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