Canada Nickel Pushes Back Debt Deadline Amid Permitting Push

To secure the extension with Auramet International, Canada Nickel will pay a fee of US$856,288 and grant 5.5 million common share purchase warrants. These warrants allow Auramet to acquire company shares at $1.52 each—a 5% premium over the recent five-day volume-weighted average price—over a one-year window. As part of the arrangement, the company will cancel 3.5 million previously issued warrants that held a higher exercise price of $1.81. The transaction remains subject to final approval from the TSX Venture Exchange.

CEO Mark Selby noted that the extension aligns with the company’s ongoing financing initiatives. Canada Nickel is currently awaiting the Minister’s Decision Statement regarding federal permits, a key milestone for the firm’s goal of reaching a construction decision in 2027. The company continues to advance the Crawford Nickel-Cobalt Sulphide Project, positioning itself to supply the electric vehicle and stainless steel sectors.