NIO:CC - Nio Strategic Metals Announces Share Purchase Agreement
(TheNewswire)
(Montreal, Quebec, May 1st, 2024) TheNewswire – Nio Strategic Metals Inc. (TSX-V: NIO) (OTC: NIOCF)(“ Nio ” or the “ Company ”) is pleased to announce that it hasentered into a share purchase agreement (the “ SPA ”) to acquire100% of the issued and outstanding shares of 1478472 B.C. Ltd., acompany holding a 100% interest in the mining claims comprising theFafnir Project in Quebec, Canada (the “ Acquisition ”).
The Project is comprised of 90 mineral claims coveringapproximately 4,956 hectares (50 square kilometers) locatedapproximately 60km north west of Mont Laurier, and 165 km north ofGatineau. There is excellent access to all parts of the property froma logging road off the La Verendrye 13, via the Trans-Canadahighway.
The Fafnir project, subject of pass geophysics andground work has a large intrusive NYF (Niobium-Yttrium-Fluorine) typepegmatite which has returned 9,238 ppm for Niobium, 8,022 ppm ofUranium and 1,288 ppm of Praseodymium (Pr) / Neodymium (Nd). TheStructural shear fault that truncates the property’s South Westernflanc, being the likely context for enrichment, also truncates thePetawaga Indice, site of a bulk sample that revealed 3.4% Niobium,0.7% uranium and ~1% to 1.5% Lithium, is located 30 kilometers southwest of Fafnir. The Boxi project located 10 kilometers, North Westof Fafnir is further evidence of the strong Rare Earth Elementsenrichment in the area, having reported assays of 14% Uranium, 26%Niobium and 3,700 ppm in Pr/Nd.
“ The proposedAcquisition perfectly fits our renewed strategy to enter the criticalmetals ecosystem. The initial indication of the Niobium and Rare earthpresence was key in our decision to support the development of theFafnir Project” said Nio President and CEO Hubert Marleau.
“The population is just starting to understand theimportance of niobium and its superconductivity,” said Marleau.“It’s essential for electric vehicles batteries that couldrevolutionize new and green technologies. We look forward to workingactively with their geology team to develop these resources”.
As consideration for the SPA, the Company shall pay anaggregate of $75,000 as a cash contribution and $325,000 in commonshares of the Company. The Acquisition contemplated by the SPA isanticipated to close before May 31, 2024.
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.
For more information on the Company, please refer to the Company’s public documents available on SEDAR ( www.sedarplus.ca ) 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 NioStrategic Metals’ annual and/or quarterly management discussion andanalysis and in other of its public disclosure documents filed onSEDAR at www.sedarplus.ca, aswell as all assumptions regarding the foregoing. Although Nio Strategic 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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