Core Points - Canada Nickel Company Inc. has closed a definitive agreement with Noble Mineral Exploration Inc. for the consolidation of their joint venture in Mann Township and other exploration projects into a new entity named East Timmins Nickel Ltd. [1] - East Timmins is a private company with 80% ownership by Canada Nickel and 20% by Noble, and Canada Nickel issued 162,000 common shares to Noble as part of the transaction [1] - The transaction is subject to final approval from the TSX Venture Exchange [1] Company Overview - Canada Nickel is focused on advancing nickel-sulphide projects to meet the growing demand in electric vehicle and stainless-steel markets [2] - The company is pursuing the development of processes for producing net zero carbon nickel, cobalt, and iron products, and has applied for trademarks for NetZero NickelTM, NetZero CobaltTM, and NetZero IronTM [2] - Canada Nickel's flagship project is the 100% owned Crawford Nickel-Cobalt Sulphide Project located in the Timmins-Cochrane mining camp [2]
Canada Nickel Closes Previously Announced Definitive Agreement for Creation of 'ExploreCo' with Spin-out of Eastern Exploration Properties