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Canada Nickel adds a second major investor

Kitco Media
By Kitco News
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Canada Nickel adds a second major investor teaser image

Canada Nickel (TSXV: CNC) said today that Samsung SDI will make a US$18.5 million equity investment in the company. 

Canada Nickel is advancing its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the Timmins-Cochrane mining camp. Last month Agnico Eagle invested US$23.12 million in Canada Nickel. 

After its investment Samsung SDI will acquire 15.6 million shares of Canada Nickel and become an 8.7% shareholder. 

Samsung SDI will be granted the right to purchase a 10% equity interest in the Crawford project for US$100.5 million upon a final construction decision. Samsung SDI will be granted certain offtake rights to the Crawford project's nickel-cobalt products subject to the completion of the 10% equity investment in the Crawford project. 

Canada Nickel was up 5% to C$1.66 a share.

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