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.
Cautionary Statement Concerning Forward-Looking
Statements
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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SOURCE Canada Nickel Company Inc.