Canada Nickel Company Inc. (Canada Nickel) has announced the signing of two definitive agreements – the previously announced transaction with Noble Mineral Exploration (Noble) and a definitive agreement with the primary surface rights holder (Surface Rights Holder) in Crawford and surrounding townships to secure access to 32,000 acres of surface rights required to build the Crawford Nickel Sulphide project (Crawford).
Canada Nickel and Noble have now entered into a definitive agreement whereby Canada Nickel and Noble will contribute certain mining properties, including the existing Mann joint venture, into a new private company (ExploreCo) to consolidate their respective interests in the portfolio of nickel projects northeast of Timmins, Ontario. As part of the transaction, Canada Nickel will consolidate ownership of the mining rights and access to the surface rights for certain key patents in Aubin, Crawford, Carnegie, Dargavel, Kidd, Lennox, Lucas, Nesbitt, Prosser, and Wark townships currently held by Noble, which facilitates and simplifies future development of Crawford and other nearby regional properties held by Canada Nickel.
The transaction and formal formation of ExploreCo is expected to close by January 31, 2025.
