On December 23, 2021, Canada Nickel Company Inc. (TSXV: CNC) (“Canada Nickel”) completed the initial closing of the acquisition of several mining claims related to the Reid Property from a prospector resident in Timmins, Ontario. Pursuant to the Purchase and Sale Agreement dated September 23, 2021, Canada Nickel has also committed to conduct a 2,500 m exploration and development drilling program and fly an airborne geological survey over the Property. The vendor retains a 2.00% net smelter returns royalty (NSR) on the claims.
Canada Nickel is advancing the next generation of nickel-cobalt sulphide projects to deliver nickel and cobalt required to feed the high growth electric vehicle and stainless steel markets.
Miller Thomson advised the vendor prospector with a team comprised of Geoff Clarke (Capital Markets, Securities & Mining) and Thomas Manes (Corporate Commercial).