Niobay Metals Announces 20% Increase to Previously Announced Private Placement
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Press release
TSX-V: NBY
NIOBAY METALS ANNOUNCES 20% INCREASE TO PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT
Montreal, November 17, 2020. NioBay Metals Inc. (“ NioBay” or the “Company”) (TSX-V: NBY) is pleased to
announce that it has increased the size of its previously announced private placement from up to $10,000,000
to $1 2,000,000 ( the “Offering”) and amended its agreement with Canaccord Genuity Corp. on behalf of a
syndicate of agents that includes Sprott Capital Partners LP (collectively, the "Agents").
The Offering has been amended to the following:
an aggregate of up to 12,307,692 Units of the Company at an issue price of $0.65 per Unit for aggregate
gross proceeds of $8,000,000. Each Unit will be comprised of one common share of the Company (each,
a "Common Share") and one-half-of-one common share purchase warrant of the Company (each whole
warrant, a "Warrant") with each Warrant entitling the holder thereof to acquire one Common Share at
a price of $0.90 per share for a 36-month period following the closing date of the Offering; and
an aggregate of up to 5,882,353 Flow-Through Shares at an issue price of $0.68 per Flow-Through Share
for aggregate gross proceeds of up to $4,000,000.
In addition, the Agents have been granted an option to sell up to that number of an additional Units and Flow-
Through Shares for additional gross proceeds of up to $750,000.
The Offering is expected to close on or about December 8, 2020 and is subject to certain closing conditions
including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of
the TSX Venture Exchange and the applicable securities regulatory authorities. The Offeri ng is being made by
way of private placement in Canada. The securities issued under the Offering will be subject to a hold period in
Canada expiring four months and one day from the closing date of the Offering. The Offering is subject to final
acceptance of the TSX Venture Exchange.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not
be offered or sold in the United States absent registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
ABOUT NIOBAY METALS INC.
NioBay Metals Inc. is a mining exploration company holding a 100% interest in the James Bay Niobium Project
located 45 km south of Moosonee, in the James Bay Lowlands in Ontario. NioBay also holds a 72.5% interest in
the Crevier niobium and tantalum project loc ated in Quebec and a 4 7% direct participation in mineral titles
situated in the Chibougamau and Normetal region, Quebec, under a joint venture agreement with SOQUEM.
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CAUTIONARY STATEMENT
Certain statements contained in this press release constitute forward-looking information under the provisions
of Canadian securities laws including statements about the Company’s plans. Such statements are necessarily
based upon a number of beliefs, assum ptions, 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 tha t 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.
Claude Dufresne, P.Eng.
President & CEO
Tel.: 514 866-6500
Email: [email protected]
www.niobaymetals.com
Paradox Public Relations
Tel: (514) 341-0408 or 1-866-460-0408