Taykwa Tagamou Nation (“TTN“) and Canada Nickel Company Inc. (“Canada Nickel” or the “Company“) (TSXV: CNC) (OTCQX: CNIKF) are proud to announce an investment reflecting a shared commitment to advancing Canada Nickel’s flagship Crawford Nickel Sulphide Project while fostering economic empowerment and long-term collaboration. TTN will invest $20 million at closing of its own capital in a Convertible Note that will be convertible into 16.67 million Canada Nickel common shares at a price of $1.20, representing an 8.4% interest in the Company (based on the Company’s current issued and outstanding share capital). The Convertible Note was signed on December 13, 2024. Completion of the transaction, which is expected to occur in January 2025, is subject to certain conditions including the approval of the TSX Venture Exchange and the receipt of all other required third party consents.
“This partnership exemplifies our vision of economic self-determination,” said Chief Bruce Archibald of TTN. “By utilizing our own capital to secure a significant stake in Canada Nickel, we’re ensuring we have a true seat at the decision-making table. This collaboration paves the way for future generations to thrive while maintaining our commitment to environmental stewardship and community well-being. We are proud to be setting a new standard for First Nation partnership in the mining sector. It demonstrates how mutual respect can drive meaningful change and lasting benefits for both proponents and impacted First Nations.”
TTN’s investment not only ensures direct financial benefits for its community members but also positions the First Nation as a key player in the global transition to clean energy, as nickel is a critical mineral for electric vehicle batteries and other sustainable technologies and the Company’s flagship Crawford Project is poised to be Canada’s largest nickel mine.
“This transaction demonstrates what is possible when industry and First Nations work together towards a common goal,” said Canada Nickel CEO, Mark Selby. “TTN’s leadership and vision have been instrumental in shaping this partnership. We are excited to welcome TTN as true partners in our journey to deliver critical minerals for the clean energy transition. As we advance our flagship Crawford Project towards a construction decision, we also plan to unlock the potential of the Timmins Nickel District together by completing eight resources by mid-2025, building a future that benefits both the environment and future generations.”
Canada Nickel and TTN share a deep mutual interest in environmental stewardship. With Canada Nickel’s In-Process Tailings carbonation, the Crawford Project is positioned to be a net-zero operation, and one of Canada’s largest permanent carbon storage facilities, storing up to 1.5M tonnes of C02 annually during its peak production period.
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