Mr. Mark Selby reports
RNC PROVIDES BETA HUNT MINE SALE PROCESS UPDATE
Royal Nickel Corp. has completed the second phase of the Beta Hunt mine sale process with the selection of a preferred bidder. Royal Nickel has granted exclusivity to this bidder to allow for completion of the final phase of the sale process (final due diligence, settlement of definitive documents, and all other steps related to the closing and completion of the transaction, which Royal Nickel expects will occur in August, 2018).
Mark Selby, president and chief executive officer of RNC, commented, "With the expected completion of the sale of the Beta Hunt mine, we look forward to focusing on the advancement of the Dumont nickel-cobalt project, which contains the world's largest undeveloped reserves of nickel and second largest undeveloped reserves of cobalt."
The sale process for Royal Nickel's 100-per-cent-owned Beta Hunt mine (announced March 22, 2018) is being led by financial advisers PCF Capital Group and Haywood Securities Inc.
Royal Nickel notes that there can be no assurance that the sale process will result in a completed transaction or, if a transaction is undertaken, as to final terms and timing.
About Royal Nickel Corp.
Royal Nickel is a multiasset mineral resource company with a portfolio of gold and base metal production and exploration properties.
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