Canada Nickel Appoints Debt Advisors and New Chairman as Major Nickel Project Advances

TORONTO, April 4, 2023 – Canada Nickel Company Inc. (TSXV:CNC) (OTCQX:CNIKF) announced the commencement of the Impact Statement Phase for the Crawford Nickel Project (“Crawford” or “the Crawford Project”) under the Impact Assessment Act.

Bottom Line: The company continues to advance the only greenfield nickel project in Canada and one of the largest in the world at full production. Now with a project finance team in place to help raise the necessary construction funds and the next phase of permitting moving forward, Canada Nickel is poised to become a top tier battery metals producer.

Mark Selby, Chair & CEO of Canada Nickel said,

As we now enter the second phase of the Impact Assessment process, we’d like to express our appreciation to our partners, stakeholders, and Indigenous communities for their continued engagement, and to the Impact Assessment Agency of Canada for their timely actions in efficiently progressing the Impact Assessment process for Crawford. As we continue our rapid progression through project permitting, Canada Nickel remains committed to ensuring thorough, meaningful baseline assessments, impact analysis, and engagement.

Impact Assessment an Important Milestone

An Important Step for the Crawford Nickel Project, The Impact Assessment process is a planning and decision-making tool used by regulators, Indigenous communities, the general public, stakeholders, and proponents to emphasize the positive and resolve or mitigate the negative impacts of a proposed major project, and to ensure that the development of the project is in the public’s best interest.

The Impact Statement Phase, the second phase of the process, culminates with the proponent’s submission of the Impact Statement, a detailed technical document that identifies and assesses the potential impacts of a project and the measures proposed to mitigate those effects.

Canada Nickel Appoints Debt Advisor to go Along with Equity Advisor Team

Canada Nickel also announced the appointment of Cutfield Freeman & Co. as project debt advisors.

Canada nickel CEO Mark Selby was quoted as saying:

I am very pleased that we have engaged Cutfield Freeman, a leading global mining advisory firm, as project debt advisors. Cutfield Freeman, in conjunction with our previously appointed equity advisors, Deutsche Bank and Scotiabank, will assist the Company in putting together the overall financing package for the Company’s flagship Crawford Nickel Sulphide project as we continue advancing Crawford towards production.

Agnico Eagle Veteran To Lead Company’s Board of Directors

Mr. Selby continued,

I am also very pleased to announce that David Smith, a current member of our Board, will be assuming the role of Chairman, previously held by me. The splitting of the CEO and Chairman roles aligns with best corporate governance practices and is expected to become effective on April 7, 2023. David, currently the EVP Finance and CFO at Agnico Eagle Mines Limited, has held several senior positions over the last 18 years as Agnico Eagle grew to become one of the leading global gold companies. He recently announced his retirement as of April 30 from Agnico Eagle and I look forward to working closely with David to help Canada Nickel become one of the leading global nickel companies. I would also like to thank Russell Starr, who is retiring from the board given other commitments, but remains committed to the success of Canada Nickel.

Duane Hope

Duane Hope is a Partner at Capital 10X, he brings over 15 years of communications and research experience to the firm. His research and writing has appeared in publications for North American, European and Asian audiences.