Canada Nickel extends US$27.8-million Auramet loan to February 2027, pending approval

Canada Nickel, developer of the Crawford nickel-cobalt project in the Timmins-Cochrane mining camp, says it has extended repayment of its remaining US$27.8-million loan from Auramet International to February 9, 2027. The extension, announced November 9, 2026, remains subject to TSX Venture Exchange approval.

The company is working toward a construction decision in 2027, chief executive Mark Selby said in the announcement. Selby said the new repayment date aligns with the company’s current expectations for completing financing initiatives. He said financing discussions continue with potential buyers of future production, joint venture partners and federal and provincial government funding programs. The company cautioned that there is no assurance Crawford will enter production.

Under the extension terms, the company will pay Auramet a US$694,432 fee and issue 7.5 million common share purchase warrants. Each warrant would allow Auramet to buy one Canada Nickel common share for $1.10 during a one-year period. The warrants also require exchange approval.

The loan had been due November 9, 2026. Canada Nickel said it has repaid part of the principal, reducing the outstanding amount from the original US$32 million to US$27,777,299.

Canada Nickel said 5.5 million warrants previously issued to Auramet in August 2026, with an exercise price of $1.52 per share, will be cancelled under exchange requirements. Those warrants were issued in connection with the second extension of the initial loan advance.

Canada Nickel owns 100 per cent of Crawford.