Canada Nickel Sees Export Development Canada Express Interest For Debt Financing

Canada Nickel Company (TSXV: CNC) is one step closer to securing debt financing for the development of its flagship Crawford Nickel Project in Ontario. The company has received a letter of interest from Export Development Canada in relation to funding the project.

The letter of interest is said to outline potential funding of the project, to the tune of US$500 million. Funding would come in the form of project debt, with the debt to be provided for a term of up to eighteen years subject to certain conditions.

Progression of potential funding by Export Development Canada is said to be subject to completion of a “rigorous due diligence process.”

WATCH: Canada’s Largest Nickel Operation & Carbon Storage Facility by 2027 with Mark Selby of Canada Nickel

“The LOI, along with the refundable critical minerals and carbon capture & storage tax credits in excess of US$600 million that the Company expects to qualify for the initial phase of Crawford’s development, demonstrates the significant commitment of the federal government to support this critical project as a high priority. Additionally, we continue to make good progress with our financial advisors Deutsche Bank, Scotiabank and Cutfield Freeman to secure the remaining project funding required to begin construction when permits are received, which we expect to be by mid 2025,” commented Canada Nickel CEO Mark Selby.

Canada Nickel last traded at $0.99 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Canada Nickel Sees Nickel Recoveries As High As 84% At Texmont

Canada Nickel (TSXV: CNC) continues to progress on the development of its Texmont Nickel Sulphide...

Thursday, June 22, 2023, 08:56:47 AM

Canada Nickel Announces Partnership To Commercialize New CO2 Sequestration Tech

Canada Nickel (TSXV: CNC) continues to focus efforts on CO2 sequestration, even as ESG principles...

Monday, June 9, 2025, 08:26:15 AM

Canada Nickel Enters MOU With Glencore For Potential Use Of Kidd Facilities

Canada Nickel Company (TSXV: CNC) is steadily developing out its flagship Crawford Nickel-Cobalt Sulphide project...

Monday, January 11, 2021, 08:08:40 AM

Canada Nickel, Noble To Consolidate Nickel Assets

Canada Nickel Company Inc. (TSXV: CNC) has entered into a binding letter of intent with...

Monday, July 8, 2024, 02:01:00 PM

Canada Nickel Intersects 0.29% Nickel Over 325.5 Metres At Reid Property

Assay results from recent drilling conducted by Canada Nickel (TSXV: CNC) were released this morning....

Thursday, December 1, 2022, 08:25:12 AM