TORONTO, CANADA (By Canada Nickel, 9.Nov.2026, Words: 300) — Canada Nickel Company Inc. extended the repayment date of its loan facility originally announced 6 Feb. 2026 with Auramet International, Inc. from 9 Nov. 2026 to 9 Feb. 2027.
The loan amount has been reduced from the originally announced $32mn to $27.8mn as a portion of the principal has been repaid.
Canada Nickel Company CEO and director ark Selby said Auramet extended the facility in-line with Canada Nickel’s current expectations on completion of various financing initiatives.
“Despite a challenging nickel price environment, we continue to advance meaningful discussions with offtake and joint venture partners and several federal and provincial level government funding programs as we work towards a construction decision in 2027,” Selby said.
Loan extension
In connection with the extension of the repayment date of the loan, the company will pay an extension fee of $694,432 and will grant 7,500,000 common share purchase warrants to Auramet, each exercisable for a 1-year period to acquire 1 common share of the company at an exercise price equal to $1.10, a 10% premium to the 5 day VWAP ending on 6 Nov. 2026. The loan extension and extension warrants are subject to the approval of the TSX Venture Exchange.
In connection with the extension of the repayment date of the loan, the 5,500,000 common share purchase warrants with an exercise price of $1.52 per share that were previously issued by the company to Auramet in Aug. 2026 in connection with the second extension of the initial loan advance will be cancelled and rendered ineffective pursuant to the requirements of the TSX Venture Exchange.
Other update
Further to the company’s news releases dated 31 Oct. 2024 and 27 Nov. 2024, the company has terminated its engagement agreement with a third-party service provider following the issuance of 73,529 common shares at a deemed price of $1.02 per share for services provided during the 3-month period ending 31 Oct. 2024.
No further common shares will be issued under the services agreement.
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