NIO:CC - Nio Strategic Metals Announces Early Warrant Exercise by Insiders and a Status Update
(TheNewswire)
Montreal, Quebec – TheNewswire - October 6, 2023 –Nio Strategic Metals Inc. (TSXV:NIO) (OTC:NIOCF) (“ Nio ” or the“ Company ”) announces management and directors of the Company (collectively, the "Insiders") have exercised all of theircommon share purchase warrants ("warrants") they detained,generating aggregate proceeds of approximately C$54,000 to theCompany. Together with its previous cash balances, Nio now hasapproximately C$1.1 million in cash.
The warrants were issued in connection with theCorporation's private placement of units completed in October 2021 andwere set to expire on October 15, 2023.The exercise price of thewarrants was C$0.12.
Hubert Marleau, President and Chief Executive Officer,commented, "We are extremely pleased about the Insiders'continued belief in the long-term value of Nio, and their ongoingsupport in our planned corporate activities into critical andstrategic metals, including the Niobium-mining project inOka."
In December 2022, the Canadian government released itsreport entitled The CanadianCritical Minerals Strategy – From Exploration to Recycling: Poweringthe Green and Digital Economy for Canada and the World which recognizes that critical minerals represent agenerational opportunity for Canada’s workers, economy and net-zerofuture. Such minerals are the foundation on which our modern economyis built and that list includes niobium.
“ Our priorityremains to increase our presence in the critical metals ecosystem,”added Mr. Marleau. “It’s clear that North America is going to needa lot more niobium. We remain fairly busy as we conduct variousactivities concurrently including negotiations with stakeholders.Furthermore, we are constantly seeking propositions from third partiesinvolved in the exploration and development of critical materials orminerals classified as strategic by governments.”
“Governments are just starting to understand theimportance of niobium,” said Marleau. “It has flown largely underthe radar, even though it’s essential for airplanes, bridges andbuildings and electric vehicles batteries that could revolutionize newand green technologies.”
About Nio Strategic Metals
Nio Strategic Metals is an exploration and developmentcompany, with a focus on becoming a ferroniobium producer. The Companyholds a niobium property in Oka, Québec and other explorationproperties in the Province of Québec. Nio’s Oka mining propertyconsists of mining rights comprised of 49 claims covering 2,281 acres and its Great Whale property consists of surface and mining rights covering24,944 acres on the Hudson Bay territory.
For more information on the Company, please refer to the Company’s public documents available on SEDAR ( www.sedarplus.com ) or on theCompany’s website ( https://niostratmet.com/ ).
For more information, please contact:
Hubert Marleau
Chairman, President and Chief Executive Officer
nio.investorinformation@gmail.com
514-560- 7623
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Statement on Forward-Looking Information
This news release containsforward-looking statements and forward-looking information (together,“forward looking statements”) within the meaning of applicable Canadian securities laws. Statements, other than statements of historical facts, may be forward-looking statements.Generally, forward-looking statements can be identified by the use ofterminology such as “plans”, “expects”, “estimates”,“intends”, “anticipates”, “believes” or variations of suchwords, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”, the negative of these terms and similar terminologyalthough not all forward-looking statement contains these terms andphrases. Forward-looking statements involve risks, uncertainties andother factors that could cause actual results, performance, prospectsand opportunities todiffer materially fromthose expressed or implied bysuch forward-looking statements. These risks and uncertaintiesinclude, but are not limited to, the risk factors set out in NioStategic Metals’s annual and/or quarterly management discussion andanalysis and in other of its public disclosure documents filed onSEDAR at www.sedar.com, as well as all assumptions regarding the foregoing. Although NioStrategic Metals believes that the assumptions and factors used in preparing the forward-lookingstatements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events willoccur in the disclosed time frame or at all. Except where required by applicable law, Nio Strategic Metals disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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