VANCOUVER, British Columbia, Aug. 17, 2017 (GLOBE NEWSWIRE) -- Hard Creek Nickel (TSX-V:HNC) ("the Company") announced today that it will change its name to Giga Metals Corporation to better reflect the new direction of the Company in its search for new opportunities in the battery metals sector.
The Company intends to become a minerals company offering direct exposure to nickel, cobalt, and possibly other integral raw materials in electric vehicle (“EV”) and battery energy storage markets. The Company’s Turnagain project represents a significant nickel-cobalt resource and serves as a core project for the Company’s new business focus. The Company is currently evaluating other battery metal projects as potential acquisitions.
EVs have entered into the mainstream at economically attractive price points to the mass market. Increasing demand for EVs is expected to drive investor demand for battery metals, particularly nickel and cobalt, which are important components in batteries.
Management intends to pursue a business model that offers direct and long-term leverage to nickel and cobalt price appreciation through owning substantial projects containing these two metals and possibly other battery metals.
“Our new name reflects our focus on the raw materials needed for modern electric batteries,” said Mr. Jarvis. “Nickel is one of the principal materials in EV batteries. Cobalt, which is a significant byproduct of our Turnagain nickel deposit, is a second critical component of the batteries used in EVs. We are also actively looking for other acquisition opportunities in the battery metals space.”
The name change is subject to regulatory approvals.
