Canada Nickel announces acceleration of September 2020 Warrants

"The acceleration and exercise of these Warrants provides us additional runway to continue our drill program at our Crawford Nickel-Cobalt Sulphide Project, including our recently announced MacDiarmid nickel target once permits are received in early April, and progress the related feasibility study due for completion by the end of 2021," commented Mark Selby, Chair and CEO of Canada Nickel.

Canada Nickel Company Inc. is accelerating the expiry date of its common share purchase warrants issued on September 30, 2020 under the warrant indenture between TSX Trust Company and the company.   Each of the warrants entitles the holder thereof to acquire one common share of the Company at a price of $2.10 per common share. As of March 16, 2021, 1,822,750 of the original 2,675,000 Warrants issued remain outstanding to be exercised.


Accelerated Expiry Date

The Company is entitled under the Warrant Indenture to accelerate the expiry date of the Warrants upon the occurrence of an Early Expiry Event (as defined in the Warrant Indenture). The Company has delivered to the Warrant Agent a notice of the occurrence of such Early Expiry Event and its election to accelerate the expiry date of the Warrants from September 30, 2022 to April 27, 2021 (the “Accelerated Expiry Date”).

Any Warrants that have not been exercised by 5:00 p.m. (Toronto time) on the Accelerated Expiry Date will automatically expire and no longer be exercisable.
 

Tags: Northern Ontario / Deals & Financial / Metals / All Articles