Canada Nickel update on its discussion with investors

Canada Nickel Company Inc. (Canada Nickel) provides an update on its discussions with strategic investors and financing activities.

The Company has arranged a USD 10M secured loan facility with Auramet which is expected to close on or before January 5, 2022. The loan is due April 5, 2022, and will carry an interest rate of 1% per month and has an arrangement fee of 2% of the loan amount and the issuing of 250,000 2-year warrants at a strike price of USD 3.94 per share on the closing date.

This transaction is subject to customary closing conditions, including TSX Venture Exchange approval. The loan will be subject to such terms and conditions including certain specified positive and negative covenants that are customary for a transaction of this nature.