“Today is the first of a set of transactions designed to unlock value from our significant asset portfolio. The creation of ExploreCo will facilitate the ability to realize the future value of these properties that are not currently recognized in Canada Nickel’s market value.,” Mark Selby, CEO of Canada Nickel, said.
“This transaction also allows the company to consolidate the surface rights, remaining claims, and patents around the Crawford nickel sulphide project to simplify the development of Crawford and our future projects,” he added.
Led by Steve Balch, Canada Nickel’s current VP of exploration, ExploreCo will initially oversee 1,989 mining claims spread across approximately 420 sq. km. The subsidiary aims to potentially pursue a public listing, contingent on market conditions.
Funding for ExploreCo’s initial phase will be seeded with C$5 million from Canada Nickel’s existing funds, with subsequent costs…
