Canada Nickel Closes C$21 Million Financing for Permitting & Debt Repayment

Canada Nickel Company Inc. closed its upsized non-brokered private placement on August 28, 2026, raising gross proceeds of C$21,000,000 through the sale of 14,000,000 units at C$1.50 per unit. Avenir Minerals Limited received 666,667 units under pro rata participation rights tied to a December 29, 2023 investor rights agreement between the company and an affiliate of Avenir. Each unit includes one common share and one-half of a warrant exercisable at C$2.25 for 36 months. The company will direct net proceeds toward permitting and engineering activities, repayment of outstanding indebtedness, and working capital and general corporate purposes.

Company Overview

Canada Nickel Company Inc. (TSXV: CNC | OTCQX: CNIKF) is advancing the next generation of nickel-sulphide projects to supply nickel for the electric vehicle and stainless steel markets. The company is anchored by its 100%-owned flagship Crawford Nickel-Cobalt Sulphide Project, located in the Timmins-Cochrane nickel district of Ontario. Canada Nickel is pursuing the development of processes to enable the production of net-zero carbon nickel, cobalt, and iron products, and has applied in multiple jurisdictions to trademark the terms NetZero Nickel, NetZero Cobalt, and NetZero Iron.

Offering Details

The placement, upsized from the terms originally announced on August 12, 2026, closed at C$1.50 per unit for total proceeds of C$21,000,000, with 14,000,000 units issued. Each unit carries one common share plus a half-warrant, with each whole warrant exercisable at C$2.25 for up to 36 months from issuance.

Of the total, 666,667 units went to Avenir Minerals Limited through pro rata participation rights under its investor rights agreement tied to a December 29, 2023 agreement with Canada Nickel.

Units sold to purchasers outside Canada were distributed under an exemption from prospectus requirements available under OSC Rule 72-503 - Distributions Outside Canada, carrying no hold period in Canada. Units issued to Avenir are subject to a hold period that expires 4 months and 1 day from the issue date under applicable Canadian securities laws.

Use of Proceeds

Canada Nickel plans to apply net proceeds from the offering to permitting and engineering activities supporting advancement of its projects, repayment of outstanding indebtedness, and working capital and general corporate purposes.