Niobay Announces Closing of the Second Tranche of a Private Placement
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Press release
TSX-V: NBY & OTCQB : NBYCF
NIOBAY ANNOUNCES CLOSING OF THE SECOND TRANCHE OF A PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES
Montréal, Québec, May 27, 2024 - NioBay Metals Inc. (“ NioBay” or the “ Company”) (TSX-V: NBY) (OTCQB:
NBYCF) is pleased to announce the closing of th e second and final tranche of a private placement
(the “Offering”). Under the final tranche of the Offering, the Company raised proceeds of $304,520 from the sale
of 4,350,286 Quebec-eligible flow-through units of the Company (each, a “ Québec FT Unit ”) at a price of
$0.07 per Québec FT Unit. In total, taking into consideration the firs t tranche of the Offering (see press release
dated April 30, 2024), the Company has issued an a ggregate of 8,807,429 Québec FT Units for aggregate
proceeds of $616,520.
Each Québec FT Unit consists of one common share of the Company (a “ Common Share”) issued as a “flow-
through share” within the meaning of the Income Tax Act (Canada) and the Taxation Act (Québec) and one half
of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant issued under the final
tranche of the Offering entitles the holder to purchase on e Common Share at a price of $0.12 for a period of 24
months.
In connection with the Offering, the Company paid $18,000 in cash an d issued 257,143 compensation warrants
to a finder, each entitling to purchase a Common Share at a price of $0.07 for a period of 24 months.
Insiders of the Company have participated in the Of fering and subscribed for an aggregate of 939,286 Québec
FT Units for proceeds of $65,750. Such part icipation in the Offering is a “rel ated party transaction” as defined
in Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (“Regulation 61-
101”). The Offering is exempt from the formal valuation and minority shareholder approval requirements of
Regulation 61-101 as neither the fair market value of the securities issued to insiders nor the consideration for
such securities by insiders exceed 25% of the Company’s market capitalization.
All securities issued pursuant to the final tranche of the Offering are subject to a 4-month hold period under
applicable securities laws.
The Company will use the proceeds from the Offering for exploration of critical minerals on the Foothills property
located in Québec.
The Offering remains subject to the final approval of the TSX Venture Exchange.
The securities described herein have not been, and will not be, registered under the United States Securities Act,
or any state securities laws, and accordingly may not be offered or sold within the United States except in
compliance with the registration requirements of the U.S. Securities Act and applicable state securities
requirements or pursuant to exemptions therefrom. This pr ess release does not constitute an offer to sell or a
solicitation to buy any securities in any jurisdiction.
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About NioBay Metals Inc.
NioBay aims to become a leader in the development of mine(s) with low carbon consumption and responsible
water and wildlife management practices while prioriti zing the environment, social responsibility, good
governance, and the inclusion of all stakeholders. Our top priority, which is critical to our success, is the consent
and full participation of the Indigenous communities in whose territories and/or on ancestral lands we operate.
In addition to others properties, NioBay holds a 100% interest in the James Bay Niobium Project located 45 km
south of Moosonee, in the Moose Cree Traditional Territory of the James Bay Lowlands in Ontario. NioBay also
holds a 72.5% interest in the Crevier Niobium and Tantalum project located in Québec and on the Nitassinan
territory of the Pekuakamiulnuatsh First Nation. The Company has also the option to acquire a 80% interest in
the Foothills project, a titanium-phosphate project located near the former St-Urbain mine site in Quebec.
About Niobium
Niobium is a naturally occurring element. It is a metal that is ductile, malleable and highly resistant to corrosion.
Because it enhances properties and functionalities, niobium is used in a wide range of materials and applications
in the Mobility, Structural and Energy sectors. Niobium transforms materials. When added to materials like steel,
glass and aluminum castings, niobium makes them more efficient and lowers environmental impacts, while also
delivering other benefits such as better performance, improved safety and increased value.
Cautionary Statement
Certain statements contained in this press release cons titute forward-looking information under the provisions
of Canadian securities laws including statements abou t the Company's plans. Such statements are necessarily
based upon a number of beliefs, assumptions, and opinions of management on the date the statements are
made and are subject to numerous risks and uncertainties that could cause actual results and future events to
differ materially from those anticipated or projected. The Company undertakes no obligation to update these
forward-looking statements in the event that management 's beliefs, estimates or opinions, or other factors
should change, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
FOR MORE INFORMATION, CONTACT:
NioBay Metals Inc.
Jean-Sebastien David, geo.
President & Chief Executive Officer
Tel.: 514 866-6500
www.niobaymetals.com
Kimberly Darlington
Investor Relations
Tel: 514-771-3398