NIO Strategic Metals Announces Developments Regarding Its Niobium Properties
For Immediate Release TSX-V - NIO
NIO STRATEGIC METALS ANNOUNCES DEVELOPMENTS
REGARDING ITS NIOBIUM PROPERTIES
(Montreal, Quebec, August 27, 2024) – Nio Strategic Metals Inc. (TSX-V: NIO) (OTC: NIOCF)
(“Nio” or the “Company”), a critical and strategic metals mining exploration company, is pleased
to announce that has entered into arm’s length consulting agreements (the “Agreements”), with
two consultants to provide strategic guidance (the "Services") for its Niobium property in Oka.
As of this date, Services totaling $ 30,000 have been received under the Agreements from each
consultant and those fees are being satisfied through the issuance of five hundred seventy-one
thousands and four-hundred and twenty -eight (571,428) common shares each at a deemed
price of $0.0525 per common share for a total of one million one-hundred-forty-two thousands
and eight-hundred-fifty-seven (1,142,857) shares.
In respect of the Common Shares issued pursuant to the se Agreements, the Company issues
such number of Common Shares as is equal to the quotient obtained by dividing the applicable
amount due by the Discounted Market Price as defined in the policies of the TSX Venture
Exchange (the “TSXV”) of the Common Shares.
All securities issued pursuant to the Agreements will be subject to a hold period of four months
plus one day from the date of issuance thereof in accordance with applicable TSXV polices and
Canadian securities laws. The Shares for Debt arrangement received conditional acceptance
from the TSXV.
“I am excited about the participation of these two consultants. We enthusiastically engaged them
for this communication phase. Their expertise and experience will help proper positioning with
local stakeholders. These Agreements confirm also the Company’s intention to assess its
strategic options regarding the Niobium property and to source strategic metals essential to
advancing modern life, medical instruments and national security in beneficially environmental,
social and ethical manner ,” said Nio President and CEO Hubert Marleau. “Our intention is to
engage with the local community, including the Mohawks, in order to develop the mining project
under a much safer green mining operation,” added Hubert Marleau.
As part of the Agreements, the Board of Directors has authorized and approved the grant of one
million (1,000,000) stock options (the “ Stock Options”) under its stock option plan to each of
these consultants. The Stock Options are subject to vesting provisions in accordance with the
stock option plan and are exercisable on or before August 22, 2029 at the strike price of $0. 09
per share.
FAFNIR transaction near Mont-Laurier
The Company has determined its summer explorations program in order to properly assess
presence of critical metals onto the recently purchased Fafnir Project in Quebec (the “Fafnir
Project”). The Fafnir Project covers approximately 4,956 hectares (50 square kilometers) located
approximately 60 km north west of Mont Laurier, and 165 km north of Gatineau and is home to
some large high-grade niobium and Uranium deposits and discoveries. There is excellent access
to all parts of the property that are held strategically throughout the region. The number of claims
was reduced from 90 claims as originally announced in the Press release dated June 10, 204 to
85 following the non-acceptance of 5 claims from the Ministère des Ressources naturelles et des
Forêts. The Company remains in discussions regarding these 5 claims.
Further to the press releases dated May 1, 2024 and June 10, 2024, the Company would like to
express that 3,998,633 common shares were issued to satisfy the $325,000 obligation instead of
3,988,633 common shares. The Company also committed to invest two-hundred thousand
dollars ($200,000) into an exploration work program over two (2) years as part of the share
purchase agreement. Nio already started its work program on the Fafnir Project and will provide
additional updates in the coming weeks.
“The niobium potential in the global economy is tremendous following increasing demand for
niobium-based products for electric vehicles, infrastructure and our renewed strategy to enter
the critical metals ecosystem,” said Nio President and CEO Hubert Marleau.
Option Grant
In addition to the two grants already discussed above, the Board of Directors has granted
200,000 stock options in accordance with its stock option plan to its geological consultant .
Options are exercisable at CA$0.15 for a period of five years. The exercise price was fixed above
the minimum allowable price by the TSXV policies. The options, granted in accordance with the
provisions of the Company's stock option plan, are subject to the TSX V policies and the
applicable securities laws.
Qualified Person
Pierre-Jean Lafleur, Eng., and geological consultant, is a qualified person within the meaning of
National Instrument 43-101 on standards of disclosure for mineral projects. He has reviewed and
approved the technical information contained in this press release.
About Nio Strategic Metals
Nio Strategic Metals is an exploration and development company, with a focus on becoming a
ferroniobium producer. The Company holds a niobium properties located in Oka and near Mont-
Laurier, and Québec and other exploration property in the Province of Québec.
For more information on the Company, please refer to the Company’s public documents available
on SEDAR ( www.sedarplus.ca) or on the Company’s websi te ( https://niostratmet.com/) or
contact:
Hubert Marleau
Chairman, President and Chief Executive Officer
514-560-7623
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this press release.
Cautionary Statement on Forward-Looking Information
This news release contains forward -looking statements and forward -looking information
(together, “forward looking statements”) within the meaning of applicable Canadian securities
laws. Statements, other than statements of historical facts, may be forward-looking statements.
Generally, forward-looking statements can be identified by the use of terminology such as “plans”,
“expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or
statements 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 although not all
forward-looking statement contains these terms and phrases. Forward-looking statements involve
risks, uncertainties and other factors that could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied by such forward -looking
statements. These risks and uncertainties include, but are not limited to, the risk factors set out in
Nio Strategic Metals’ annual and/or quarterly management discussion and analysis and in other
of its public disclosure documents filed on SEDAR at www.sedarplus.ca, as well as all assumptions
regarding the foregoing. Although Nio Strategic Metals believes that the assumptions and factors
used in preparing the forward-looking statements are reasonable, undue reliance should not be
placed on these statements, which only apply as of the date of this news release, and no assurance
can be given that such events will occur in the disclosed time frame or at all. Except where required
by applicable law, Nio Strategic Metals disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new information, future events or otherwise.