Canada Nickel Announces Formation and Partial Sale of RoyaltyCo Subsidiary
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Canada Nickel Company Inc. has announced the formation of a new subsidiary, RoyaltyCo, and a partial sale to Edmiston Drive Capital Corp. Canada Nickel will receive $8 million in cash and 8.9 million shares, holding a 62% interest in RoyaltyCo.
March 18, 2025 | 11:45 am
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Canada Nickel Company Inc. has formed a new subsidiary, RoyaltyCo, and sold a partial stake to Edmiston Drive Capital Corp. This transaction will provide Canada Nickel with $8 million in cash and 8.9 million shares, while maintaining a 62% interest in RoyaltyCo.
The formation of RoyaltyCo and the partial sale to EDCC is a strategic move for Canada Nickel, providing immediate cash and shares, which could positively impact its financial position and stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100