VANCOUVER, British Columbia, April 20, 2018 (GLOBE NEWSWIRE) -- Contemporary Amperex Technology Canada Limited (“CATL Canada”) announces that on April 19, 2018, it acquired 200,000,000 units (the “Units”) of North American Nickel Inc. (the “Corporation”) pursuant to a non-brokered private placement (the “Private Placement”). CATL Canada acquired the Units at a price of CDN$0.075 per Unit for a total purchase price of CDN$15,000,000. Each Unit consists of one common share in the capital of the Corporation (the “Common Shares”) and one half of one common share purchase warrant to acquire a Common Share (the “Warrants”). Each Warrant is exercisable for a period of two years following closing of the Private Placement at a price of CDN$0.12 per Common Share.
Immediately prior to the acquisition of the 200,000,000 Units of the Corporation, CATL Canada did not own any securities in the capital of the Corporation. Following the closing of the Private Placement on April 19, 2018, CATL Canada now beneficially owns, or exercises control or direction over approximately 25.38% of the currently issued and outstanding shares of the Corporation. CATL Canada acquired the Units for investment purposes and may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of the Corporation.
To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see the Corporation’s profile on the SEDAR website www.sedar.com or call 613-696-6859.
About CATL Canada
CATL Canada’s head office is located at 2900-550 Burrard Street, Vancouver, British Columbia, V6C 0A3.
For further information regarding CATL Canada, please visit www.catlbattery.com.
Source:Contemporary Amperex Technology Canada Limited