(TheNewswire)
Montreal, Québec – TheNewswire - October 18 ,2021 – Niocan Inc. (TSXV:NIO) (OTC:NIOCF)(“ Niocan ” or the “ Company ”) is pleased to announce that it has completed its previously announcedprivate placement (the “ Offering ”) of units (the “ Units ”) throughPalos Wealth Management Inc. (the “ Agent ”). Pursuantto the Offering, Niocan has issued an aggregate of25,915,000 Units at a price of C$0.10 per Unitfor gross proceeds of C$2,591,500.
Each Unit consists of one commonshare of the Company (each a “ Common Share ”) and one-half of one CommonShare purchase warrant (each full warrant, a “ Warrant ”). EachWarrant is exercisable to acquire one Common Share until October 15, 2023 at an exercise priceof C$0.12.
The net proceeds of the Offering will be used forgeneral corporate purposes.
In connection with the Offering, the Agent received acash commission equal to C$161,800, plus non-transferable brokerwarrants allowing for the purchase of 1,011,250 Common Shares untilOctober 15, 2023 at an exercise price of C$0.15 per Common Share.
All Common Shares and Warrants issued pursuant to theOffering are subject to a four-month hold period under applicablesecurities laws in Canada.
Insiders of the Company subscribed for an aggregate of700,000 Units under the Offering. Each transaction with an insider ofthe Company constitutes a “related party transaction” within themeaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders inSpecial Transactions (“ MI 61-101 ”). TheCompany is relying on exemptions from the formal valuationrequirements of MI 61-101 pursuant to section 5.5(a) of the Instrumentand the minority shareholder approval requirements of MI 61-101pursuant to section 5.7(1)(a) of the Instrument in respect of suchinsider participation as the fair market value of the transaction,insofar as it involves interested parties, does not exceed 25% of theCompany’s market capitalization.
This press release shall not constitute an offer tosell or the solicitation of an offer to buy nor shall there be anysale of the securities in the United States or in any otherjurisdiction in which such offer, solicitation or sale would beunlawful. The securities have not been registered under the U.S.Securities Act of 1933, as amended, and may not be offered or sold inthe United States absent registration or an applicable exemption fromthe registration requirements thereunder.
About Niocan
Niocan is an exploration and development company, witha focus on becoming a ferroniobium producer. The Company holds a niobiumproperty in Oka, Québec and other exploration properties in theProvince of Québec. Niocan’s Oka mining property consists of miningrights comprised of 49 claims covering 2,281 acres and its GreatWhale property consists of surface and mining rights covering 24,944acres on the Hudson Bay territory.
For more information on the Company, please refer tothe Company’s public documents available on SEDAR ( www.sedar.com ).
For more information, please contact:
Hubert Marleau
Chairman, President and Chief Executive Officer
niocan.investorinformation@gmail.com
514-560-7623
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this press release.
Cautionary Statement onForward-Looking Information
This news release containsforward-looking statements and forward-looking information (together,“forward looking statements”) within the meaning of applicableCanadian securities laws. Statements, other than statements ofhistorical facts, may be forward-looking statements. Generally,forward-looking statements can be identified by the use of terminologysuch as “plans”, “expects”, “estimates”, “intends”,“anticipates”, “believes” or variations of such words, orstatements that certain actions, events or results “may”,“could”, “would”, “might”, “will be taken”,“occur” or “be achieved”, the negative of these terms andsimilar terminology although not all forward-looking statementcontains these terms and phrases. Forward-looking statements involverisks, uncertainties and other factors that could cause actualresults, performance, prospects and opportunities to differ materiallyfrom those expressed or implied by such forward-looking statements.These risks and uncertainties include, but are not limited to, therisk factors set out in Niocan’s annual and/or quarterly managementdiscussion and analysis and in other of its public disclosuredocuments filed on SEDAR at www.sedar.com, as well as all assumptionsregarding the foregoing. Although Niocan believes that the assumptionsand factors used in preparing the forward-looking statements arereasonable, undue reliance should not be placed on these statements,which only apply as of the date of this news release, and no assurancecan be given that such events will occur in the disclosed time frameor at all. Except where required by applicable law, Niocan disclaimsany intention or obligation to update or revise any forward-lookingstatement, whether as a result of new information, future events orotherwise.
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