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

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

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

In this interview, Mark Selby, CEO of Canada Nickel Company Inc. (TSXV: CNC) (OTCQX: CNIKF),...

Saturday, August 17, 2024, 11:44:00 AM

Canada Nickel To Raise $25.0 Million Via Combination Of Shares And Flow Through

After getting investors excited by conducting a post-closing bell trading halt, it appears that Canada...

Wednesday, March 9, 2022, 07:54:12 AM

Canada Nickel To Conduct $10.0 Million Flow Through Bought Deal Financing

Canada Nickel Company (TSXV: CNC) is looking to raise further funds to explore its properties....

Wednesday, July 7, 2021, 08:17:59 AM

Canada Nickel Intersects 0.5% Nickel Over 91 Metres At Texmont

The first results are in for Canada Nickel’s (TSXV: CNC) drilling at its Texmont property,...

Tuesday, March 7, 2023, 08:03:18 AM

Canada Nickel Reports Success In Carbon Storage Pilot Project, Expects $25 Per Tonne Of Co2 Stored

Canada Nickel Company (TSXV: CNC) is reporting that it has had a successful run of...

Thursday, September 28, 2023, 09:06:06 AM