“Investment ‘Eagle’ flies for Canada Nickel Company Inc!

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) announced an investment in Canada Nickel Company Inc. (TSX-V: CNC), a nickel exploration company that owns the Crawford Nickel-Cobalt Sulphide Project in the heart of the historic Timmins-Cochrane mining district in Ontario, Canada. The investment consists of an 18.9 million-dollar equity investment and will see Agnico Eagle acquire 10 million common shares of Canada Nickel at a price of $1.89 per share. This strategic investment highlights Agnico Eagle’s commitment to developing and advancing Canada Nickel’s assets. It also represents Agnico Eagle’s growing interest in Canada’s mineral sector, particularly in base metals, such as nickel. With this investment, Agnico Eagle will gain a 9.9% interest in Canada Nickel, providing it with a direct interest in the promising Crawford Nickel-Cobalt Sulphide Project. Chris Irwin, Chief Executive Officer and a Director of Canada Nickel stated, “We look forward to working with Agnico Eagle, a leading gold producer that has a world-class track record of successful mine development, to advance our nickel-cobalt project in the Timmins locality. This investment would not have been possible without the tremendous amount of support we have received from all of our stakeholders and partners since launching the Company in June 2019.” Agnico Eagle’s President and Chief Executive Officer Sean Boyd added, “We are very pleased to make this strategic investment in Canada Nickel and support its aims to develop a promising nickel-cobalt project in the established Canadian mining district. This investment is consistent with our strategy to identify world-class projects and leverage our expertise to drive long-term shareholder value.” The funds raised will be used to advance the Crawford Nickel-Cobalt Sulphide Project. Canada Nickel plans to pursue a variety of initiatives with the proceeds, including the environmental and permitting process; engineering studies; and construction planning. In addition to providing funding to advance the project, Agnico Eagle’s resource expertise and corporate relationships with contract miners can certainly help to move the project forward quickly and effectively. It’s clear that Agnico Eagle is optimistic about the potential of Canada Nickel’s assets. With Agnico Eagle’s strategic investment, Canada Nickel is well positioned to advance its nickel-cobalt project faster and more efficiently. The market will be watching the success of this project closely.