On April 20, 2018, Contemporary Amperex Technology Canada Limited (“CATL”) announced that it had completed a non-brokered private placement with North American Nickel Inc. (“NAN”). CATL acquired 200,000,000 units (each unit consisting of one NAN common share and one half of one common share purchase warrant) representing approximately 25% of the issued and outstanding common shares of NAN for a total of $15,000,000.
NAN (TSXV: NAN) is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Sudbury, Ontario. The Maniitsoq property in Greenland is a Camp scale permitted exploration project comprising 2,985 square km covering numerous high-grade nickel-copper + cobalt sulphide occurrences associated with norite and other mafic-ultramafic intrusions of the Greenland Norite Belt (GNB). The >75km-long belt is situated along, and near, the southwest coast of Greenland accessible from the existing Seqi deep water port with an all year-round shipping season and hydroelectric power potential from a quantified watershed. The Post Creek/Halcyon property in Sudbury is strategically located adjacent to the past producing Podolsky copper-nickel-platinum group metal deposit of KGHM International Ltd. The property lies along the extension of the Whistle Offset dyke structure. Such geological structures host major Ni-Cu-PGM deposits and producing mines within the Sudbury Camp.
CATL is a Ningde, China based company that develops R&D and manufacturing capabilities of full industry chains in the vehicle and energy storage batteries field. Further information about CATL can be found at www.catlbattery.com
Fasken advised CATL, with a team including Michael Boehm, Lei Huang, Janet Howard, Sarah Gingrich, Sandra Malcolm, Perry Feldman, Adrian Wan, Edward Guo and Kyle Cadieux.
