Canada Nickel announces closing of Samsung SDI equity investment
by CM Staff
Samsung SDI now holds 8.7% of the issued and outstanding common shares of the Company.
TORONTO — Canada Nickel Company Inc. has completed its previously announced equity investment by Samsung SDI Co., Ltd. for aggregate gross proceeds of US$18.5 million. Samsung SDI has subscribed for 15.6 million common shares of the Company at C$1.57 per share. Samsung SDI now holds 8.7% of the issued and outstanding common shares of the Company.
Samsung SDI is a manufacturer of rechargeable batteries for the IT industry, automobiles, and energy storage systems, as well as materials used to produce semiconductors and displays. Samsung SDI’s executive managers and staff members focus efforts to develop the next generation’s growth drivers in order to secure Samsung SDI’s place as a creative leader in the energy and materials industry.
Canada Nickel Company Inc. is involved in mining operations centred around nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets.