(TheNewswire)
Montreal, Québec – TheNewswire - September 20, 2021 – Niocan Inc. (TSXV:NIO) (OTC:NIOCF) (“ Niocan ” or the “ Company ”) ispleased to announce that, due to market demand, it has increased themaximum amount of its previously announced best efforts privateplacement of units (“ Units ”), at a price of C$0.10 per Unit (the“ Offering Price ”), from 21,500,000 Units for maximum gross proceeds ofC$2.15 million to 24,000,000 Units for maximum gross proceeds of C$2.4million. The minimum offering size remains at 12,500,000 Units forminimum gross proceeds of C$1.25 million. Niocan has also granted tothe agent under the offering, Palos Wealth Management, an option tosell up to an additional 4,800,000 Units at the Offering Price (the“ Agent’sOption ”). If the Agent’s Option is exercisedin full, the maximum gross proceeds of the private placement would beC$2.88 million.
Each Unit consist of one commonshare of the Company (each a “ Common Share ”) and one-half of one CommonShare purchase warrant (each full warrant, a “ Warrant ”). EachWarrant will be exercisable to acquire one Common Share for a periodof 24 months following the date of its issuance at an exercise priceof C$0.12.
The Company anticipates the closing date to occurduring the week of September 27, 2021.
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 and similar terminology althoughnot all forward-looking statement contains these terms and phrases.Without limiting the generality of the foregoing statements, theCompany meeting all conditions for a timely closing of the Offering,including obtaining all required subscriptions, are forward lookingstatements. Forward-looking statements involve risks, uncertaintiesand other factors that could cause actual results, performance,prospects and opportunities to differ materially from those expressedor implied by such forward-looking statements. These risks anduncertainties include, but are not limited to, the risk factors setout in Niocan’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 theforegoing. Although Niocan believes that the assumptions and factorsused in preparing the forward-looking statements are reasonable, unduereliance should not be placed on these statements, which only apply asof the date of this news release, and no assurance can be given thatsuch events will occur in the disclosed time frame or at all. Exceptwhere required by applicable law, Niocan disclaims any intention orobligation to update or revise any forward-looking statement, whetheras a result of new information, future events or otherwise.
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