Mr. Mark Selby reports

CANADA NICKEL ANNOUNCES CLOSING OF US$32 MILLION BRIDGE LOAN FACILITY WITH AURAMET INTERNATIONAL, INC.

Canada Nickel Company Inc. has closed a $32-million (U.S.) bridge loan facility with Auramet International Inc. Proceeds from the facility will be used to provide additional financing to advance the company's flagship Crawford nickel sulphide project and to repay the existing loan with BT Strategic Minerals Assets LP, whose anchor investor is Baronet Capital.

Loan facility

The bridge loan facility is due May 9, 2026, carries an interest rate of 1.00 per cent per month and is subject to a 2.5-per-cent arrangement fee. At closing, Auramet received 1.75 million one-year warrants at an exercise price of $2.03. The loan is subject to such terms and conditions, including certain specified positive and negative covenants, which 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 Canada Nickel Company Inc.

Canada Nickel Company 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.

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