- Canada Nickel ( TSXV: CNC:CA ) ( OTCQX:CNIKF ) on Wednesday said that Anglo American would make an investment of about $24 million investment, through a subscription agreement at $1.95 per common share.
- Upon completion, Anglo American will own 9.9% of the company's issued and outstanding common shares on a non-diluted basis.
- In addition, Canada Nickel has agreed to enter into a binding offtake term sheet with Anglo American.
- Anglo American will have an exclusive right to purchase up to ten per cent (10%) of recoveries of nickel concentrate, iron and chromium contained in the magnetite concentrates and any corresponding carbon credits from the company's Crawford Nickel Project.
- Canada Nickel has also agreed to enter into a Material Transfer and Technology Testing Agreement with Anglo American to assess opportunities to add value to Crawford from its FutureSmart Mining technology program.
For further details see:
Canada Nickel gets $24M investment from Anglo American