NioBay Metals comes to an agreement with SOQUEM for the sale of properties
Press release
TSX-V: NBY OTCQB:NBYCF
NioBay Metals comes to an agreement with SOQUEM for the sale
of properties
Montreal, Quebec, October 20, 2021 – NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-
V: NBY) (OTCQB: NBYCF), a company focused on exploration, development and use of critical
green metals with an Environmentally, Sustainable, Governance, and Indigenous (ESGI) focus,
is pleased to announce the execution of a letter of agreement for the sale to SOQUEM of the
rights and interests of NioBay in the Lac Shortt, L'Espérance, Le Tac and Clairy properties (ie .
an undivided interest of approximately 48%) for a total cash purchase price of $950,000.
Transaction Highlights
• Cash Payment. Purchase price of $950,000 to be paid to NioBay in cash upon closing
of the transaction.
• 2% NSR Royalty. NioBay will retain a 2% NSR royalty on the Clairy property, half of
which (1% NSR) will be redeemable at any time by SOQUEM in consideration of a
payment to NioBay of $1,000,000 in cash.
• Back-in Right. In addition, NioBay will have the right to buy back a 50% interest in any
project containing a mineral resource that has been identified and confirmed by a 43-
101 technical report in consideration of a cash payment equal to the total of 200% of
exploration expenditures and 100% of the amount paid by SOQUEM for the property
concerned.
The proposed transaction is subject to various conditions, including its approval by SOQUEM’s
board of directors and the execution of a definitive agreement.
Word from the CEO
“This represents the sale of our remaining interests in these properties ,” says Jean-Sébastien
David, CEO of the Company. “ The sale is justified by the fact that the company will focus its
efforts on the development of its critical and strategic mineral projects, which are the James
Bay and Crevier Projects. I would like to thank SOQU EM for the partnership we have had in
recent years. We wish them good luck in their work,” concluded Mr. David.
Qualified Person
Jean-Sebastien David, P. Geo., a Qualified Person within the m eaning of NI 43 -101, has
approved this release. Mr. David is also the Company’s CEO.
About NioBay Metals Inc.
NioBay will be a leader in the Environment, Sustainability, Governance and Indigenous
inclusion supporting the development of smart mine(s) with low carbo n consumption and
responsible water and wildlife management practices. Critical to our success will be the
consent and full participation of the Indigenous communities in whose territories we
operate.
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The Company 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
Quebec and on the Nitassinan territory of the Pekuakamiulnatsh First Nation and a 48% direct
participation in mineral titles situated in the Chibougamau region, Quebec, under a joint
venture agreement with SOQUEM.
About SOQUEM
SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration,
discovery and development of mining properties in Qu ébec. SOQUEM also contributes to
maintaining strong local economies. Proud partner and ambassador for the development of
Québec’s mineral wealth, SOQUEM relies on innovation, research and strategic minerals to
be well-positioned for the future.
About Niobium
Niobium is a naturally occurring element. It is a readily available, reliable, soft 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 smarter and lower environmental
impacts, while also delivering other benefits like better performance, improved safety, and
increased value.
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, 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 & CEO
Tel.: 514 866-6500
www.niobaymetals.com
Paradox Public Relations
Tel: (514) 341-0408 or 1-866-460-0408