Canada Nickel receives investment from Samsung SDI
by CM Staff
Samsung SDI will own approximately 15.6 million shares of the common shares of Canada Nickel, representing approximately 8.7% of the Company's issued and outstanding shares on a non-diluted basis.
TORONTO — Canada Nickel Company Inc. announces that the Company has entered into a Subscription Agreement with Samsung SDI Co., Ltd. to make a US$18.5 million investment in Canada Nickel at a price of C$1.57 per Common Share. Upon closing of the private placement contemplated in the Subscription Agreement, Samsung SDI will own approximately 15.6 million shares of the common shares of Canada Nickel, representing approximately 8.7% of the Company’s issued and outstanding shares on a non-diluted basis.
“We are very pleased to welcome Samsung SDI as an investor and project partner with Canada Nickel,” said Mark Selby, CEO of Canada Nickel. “As we advance the Crawford Nickel Sulphide Project, it is critical to form long-term partnerships with companies that truly understand how crucial this production is for electric vehicle supply chains across North America and Europe. As one of the world’s leading electric vehicle battery manufacturers, Samsung SDI not only understands our vital role in these supply chains, but also believes in Canada Nickel’s vision for responsible, large scale, net-zero carbon nickel production. Together, our companies are paving the way for a more sustainable future.”
“We are pleased to partner with Canada Nickel through this opportunity,” said Ikhyeon Kim, Executive Vice President of Samsung SDI. “We look forward to working with Canada Nickel to contribute to the growing battery manufacturing industry through this partnership.”
Samsung SDI is a manufacturer of rechargeable batteries for the IT industry, automobiles, and energy storage systems (ESS), 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.
