BULLETIN V2024-0929
CANADA NICKEL COMPANY INC. ("CNC")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: March 28, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation pertaining to seven Purchase and Sale Agreements and two Exploration Agreements (collectively, the "Agreements"), among the Company and several arm's length parties (the "Vendors"), whereby the Company acquired certain mining claims and access rights to conduct exploration activities in Ontario (the "Properties").
Under the terms of the Agreements, the Company has agreed to acquire Properties in exchange for 923,000 common shares and a cash payment of $67,760. Furthermore, the Company has agreed to grant to four Vendors royalties equaling a 2.0% net returns interest on the applicable claims. The Company has the exclusive option at any time and from time to time to repurchase one-half of each such royalty (being a 1.0% net returns interest) from the three vendors for a cash purchase price of $1,000,000 per royalty and a quarter of a royalty (being a 0.5% net returns interest) from one vendor for $1,000,000 cash payment.
For more information, please refer to the Company's news release dated January 19, 2024.
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