Vancouver, British Columbia--(Newsfile Corp. - April 28, 2020) - - North American Nickel Inc. (TSX VENTURE: NAN) (OTCBB: WSCRF) (CUSIP: 65704T 108) (the "Company" or "NAN") announces that, as a result of delays caused by the COVID-19 pandemic, the Company will be relying on an exemption adopted by the British Columbia Securities Commission ("BCSC") and provided in BC Instrument 51-515 Temporary Exemption from Certain Corporate Finance Requirements ("Blanket Exemption Order") to extend the filing deadline of its Annual Consolidated Financial Statements, Management's Discussion and Analysis and related CEO and CFO certificates for the financial year ended December 31, 2019 ("Annual Filings"). The Company expects that the Annual Filings will be filed prior to the extended filing deadline of June 15, 2020.
In accordance with the Blanket Exemption Order, the Company's management and other insiders are subject to a trading black-out policy until the required Annual Filings are filed on SEDAR.
Material business developments of the Company that have occurred since the filing of its consolidated interim financial statements for the period ended September 30, 2019 include:
- On October 2, 2019, the Board of Directors and Management completed a consolidation of the Company's issued and outstanding common shares on the basis of ten pre-consolidation shares for one post-consolidated share.
- On December 18, 2019, the Company completed a bought deal private placement issuing of 2,224,666 flow-through common shares of the Company at a price of $0.18 per FT Share and 7,373,265 common share units at a price of $0.18 per Unit for gross proceeds of $1,727,627.58.
About North American Nickel
North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Ontario, Canada.
The Maniitsoq property in Greenland is a Camp scale permitted exploration project comprising 3,048 square km covering numerous high-grade nickel-copper + cobalt sulphide occurrences associated with norite and other mafic-ultramafic intrusions of the Greenland Norite Belt (GNB). The >75km-long belt is situated along, and near, the southwest coast of Greenland and is accessible from the existing Seqi deep water port with an all year-round shipping season and hydroelectric power potential from a quantified watershed.
The Post Creek/Halcyon property in Sudbury is strategically located adjacent to the past producing Podolsky copper-nickel-platinum group metal deposit of KGHM International Ltd. The property lies along the extension of the Whistle Offset dyke structure. Such geological structures host major Ni-Cu-PGM deposits and producing mines within the Sudbury Camp.
The Company acquired 100% ownership of property near the southern extent of the Lingman Lake Greenstone Belt in northwest Ontario known as Lingman Nickel and in the Quetico region near Thunder Bay Ontario. The acquisition of these properties is part of the company's strategy to develop a pipeline of new nickel projects. The Company is evaluating direct and indirect nickel asset acquisition opportunities globally.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
North American Nickel Inc.
For more information contact:
North American Nickel Inc.
+1 (604) 770-4334
Toll free: 1-866-816-0118
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities legislation concerning the business, operations and financial performance and condition of the Company. Forward-looking statements and forward-looking information includes, but is not limited to, statements about the ability of the Company to access capital to satisfy the fees and expenditures under the earn-in agreement, the ability of the Company to complete the expenditures under the earn-in agreement, spending commitments, the success of exploration activities, the future economics of minerals including nickel and copper, the benefits of the development potential of the properties of the Company, the benefits of drilling and advancement of projects, engagement and dialogue with First Nations groups and formalizing the scope of work. Forward-looking information is necessarily based upon a number of estimates and 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, including the risks identified in the Company's disclosure documents available at www.sedar.com. 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. The Company 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.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed.
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