TORONTO, June 9, 2020 /CNW/ – Canada Nickel Company Inc. (TSXV: CNC) (“Canada Nickel” or “the Company”) today announced it has commenced the Preliminary Economic Assessment (PEA) for the Crawford Nickel-Cobalt Sulphide Project (“Crawford”) and has retained Ausenco Engineering Canada Inc. (“Ausenco”) as the lead study consultant.
Canada Nickel also appointed Mr. Christian Brousseau,
P.Eng., to the Canada Nickel team as the Project Director for Crawford.
Reporting to the Chair and CEO, Mr. Brousseau will have overall
responsibility for the PEA as well as the execution plan, engineering,
and construction of Crawford. Mr. Brousseau is a licenced engineer in
the Ordre des ingénieurs du Québec with a mechanical engineering degree
from École Polytechnique de Montréal and an MBA from the Université du
Québec en Abitibi-Témiscamingue.
“I am very pleased to announce these appointments and to be working
again with Ausenco and Christian, who bring extensive experience from
their work on the Dumont Nickel-Cobalt project and other large scale
open pit mine-mill operations. We remain committed to aggressively
advancing Crawford, one of the leading next generation nickel-cobalt
sulphide and palladium projects, and these appointments will help us
maintain the momentum we have generated to date,” said Mark Selby, Chairman and CEO, Canada Nickel.
The Crawford PEA is scheduled for completion by the end of 2020.
Ausenco is a global diversified engineering, construction and project
management company providing consulting, project delivery and asset
management solutions to the resources, energy and infrastructure
sectors. Ausenco’s experience in mining projects ranges from conceptual,
pre-feasibility and feasibility studies for new project developments to
project execution with EPCM and EPC delivery. Their involvement in the
study and execution of projects similar to Crawford will be invaluable
in driving optimized value enhancing outcomes for the shareholders of
Canada Nickel.
Mr. Brousseau has over 20 years of experience with engineering,
design and construction in the Canadian mining industry, including
previously being the Project Director for the Dumont nickel project with
RNC Minerals. He previously held various engineer and construction
management positions with Detour Gold and Goldcorp. Mr. Brousseau also
spent eight years at Falconbridge supervising and managing various capital projects at Sudbury, Raglan, Kidd Creek and the Horne Smelter.
Market Making Services
Canada Nickel has, subject to regulatory approval, retained Venture
Liquidity Providers Inc. (VLP) to initiate its market-making service to
provide assistance in maintaining an orderly trading market for the
common shares of the Company. The market-making service will be
undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in
compliance with the applicable policies of the TSX Venture Exchange and
other applicable laws. For its services, the corporation has agreed to
pay VLP $5,000 per month for a period of
12 months. The agreement may be terminated at any time by the
corporation or VLP. The corporation and VLP act at arm’s length, and VLP
has no present interest, directly or indirectly, in the corporation or
its securities. The finances and the shares required for the
market-making service are provided by W.D. Latimer. The fee paid by the
company to VLP is for services only.
VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V-listed issuers.
About Canada Nickel Company
Canada Nickel Company Inc. 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.
Canada Nickel provides investors with leverage to nickel and cobalt in
low political risk jurisdictions in a geopolitically stable jurisdiction
Canada Nickel is currently anchored by its 100% owned flagship Crawford
Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp.
This press release contains certain information that may constitute
“forward-looking information” under applicable Canadian securities
legislation. Forward looking information includes, but is not limited
to, the preparation of the preliminary economic study and other
technical studies relating to the Crawford Nickel-Cobalt Sulphide
Project, the potential of the Crawford Nickel-Cobalt Sulphide Project,
strategic plans, including future exploration and development results,
and corporate and technical objectives. Forward-looking information is
necessarily based upon a number of assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties, and
other factors which may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking information. Factors that could affect the outcome
include, among others: future prices and the supply of metals, the
future demand for metals, the results of drilling, inability to raise
the money necessary to incur the expenditures required to retain and
advance the property, environmental liabilities (known and unknown),
general business, economic, competitive, political and social
uncertainties, results of exploration programs, risks of the mining
industry, delays in obtaining governmental approvals, and failure to
obtain regulatory or shareholder approvals. There can be no assurance
that such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information contained
in this press release is given as of the date hereof and is based upon
the opinions and estimates of management and information available to
management as at the date hereof. Canada Nickel disclaims any intention
or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by law.
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