NIO:CC - Nio Strategic Metals Reports on Government Initiatives to Secure Niobium Critical Metal and a Status Update
(TheNewswire)
(Montreal, Quebec / TheNewswire / March 21, 2024) –Nio Strategic Metals Inc. (TSX-V: NIO) (OTC:NIOCF) (“ Nio ” or the“ Company ”) reports that government initiatives for development ofcritical and green metals continue to reinforce the value of theCompany’s niobium resource at the Oka Project in central Quebec.
“ Canadian andU.S. governments are really pushing new strategies and fundinginitiatives to address the problem of critical mineral supplies,”said Nio President and CEO Hubert Marleau. “North America and Europeare just too dependent on foreign sources for the critical metalsrequired for essential needs in areas such as clean energy anddefense.”
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.”
Nio engaged geo surveys expenses during 2023 todetermine the Residual Total Magnetic Intensity at the Oka property.A regional magnetic gridded dataset was obtained from the data grid.The strong magnetic anomalies depicting concentric elliptic rings,were interpreted to pertain to the Oka carbonatite intrusion byProspectair Geosurveys who conducted the study.
“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.”
Last October 2023, 4,142,434 outstanding warrants topurchase common shares at a price of $0.12 per share (each a“warrant”) were exercised. The Company has received considerationof CA$497,080 in respect of those warrants exercised.
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.
Management and directorsof the Company have exercised 400,000 warrants they detained.
Hubert Marleau,President and Chief Executive Officer, commented, " this infusionof equity indicates that investors are confident in the long-termvalue of Nio, and shows their ongoing support in our planned corporateactivities into critical and strategic metals, including theNiobium-mining project in Oka."
In September 2023, the CompanyBoard of Directors has granted 200,000 stock options in accordancewith its stock option plan to a newly appointed director. Options areexercisable at CA$0.15 for a period of fiveyears. The exercise price was fixed above the minimum allowable priceby the TSX Venture Exchange policies. The options, granted inaccordance with the provisions of the Company's stock option plan, aresubject to the TSX Venture Exchange policies and the applicablesecurities laws.
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 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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