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Royal Nickel Corp
Symbol C : RNX
Shares Issued 366,294,904
Close 2018-07-20 C$ 0.095
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Royal Ni receives Waterton debenture conversion notice

2018-07-23 09:22 ET - News Release

Mr. Mark Selby reports


Further to its news release dated June 18, 2018, relating to the $10-million (U.S.) Royal Nickel Corp. convertible note held by Waterton Precious Metals Fund II Cayman LP and Waterton Mining Parallel Fund Onshore Master LP, Royal Nickel has received a conversion notice for the full principal amount of the debenture. As a result, once the conversion is executed, Royal Nickel's interest in the joint venture will be diluted to approximately 28 per cent.

As a holder of a 28-per-cent interest, Royal Nickel will retain the right to nominate one of four directors, the right to act as manager and participate in all key decisions, certain veto rights, and certain liquidity rights, obligations and protections (including rights of first refusal and special exit arrangement provisions which, if applicable, would provide that both partners sell their joint venture interest at the same price and on the same terms, and, in certain instances, require a 120-day auction process led by a third party financial adviser to ensure the project receives an appropriate market valuation).

Mark Selby, president and chief executive officer of Royal Nickel, commented: "Dumont remains one of the world's premier battery metals projects, contains the world's largest undeveloped reserves of nickel and second-largest undeveloped reserves of cobalt. RNC will continue to work to maximize value from Dumont and our nickel expertise, including our downstream roasting approach, for RNC shareholders."

About Royal Nickel Corp.

Royal Nickel is a multiasset mineral resource company with a portfolio of gold and base metal production and exploration properties.

We seek Safe Harbor.

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