NIO Strategic Metals Announces the Extension of Its $500,000 Loan Agreement
For Immediate Release TSX-V - NIO
NIO STRATEGIC METALS ANNOUNCES THE EXTENSION OF ITS
$500,000 LOAN AGREEMENT
(Montreal, Qu ebec, April 2 6, 202 4) – Nio Strategic Metals Inc. (TSX-V: NIO) (OTC:NIOCF)
(“Nio” or the “ Company”) announces that it has amended its $ 500,000 unsecured loan
agreement with Nio-Metals Holdings LLC (“Nio -Metals”) dated March 17, 2021 (the “Amended
Loan Agreement”) to extend the maturity date to April 30, 2025, subject to no other condition.
Following the cash reimbursement of $50,000, the Amended Loan Agreement has been
reduced to $450,000. Except for the maturity date and the principal amount, the other material
terms and conditions of the Amended Loan Agreement have remained the same.
Related Party Disclosure
Pursuant to Multilateral Instrument 61 -101 -- Protection of Minority Security Holders in Special
Transactions ("MI 61 -101"), the Amended Loan Agreement constitutes a "related party
transaction" as Nio -Metals (the “Related Party”) currently holds 45.9% of the issued and
outstanding common shares of the Company.
The Company has relied on the exemptions from the valuation and minority shareholder
approval requirements of MI 61 -101 contained in sections 5.5(a) and 5.7(1)(f) of MI 61 -101 on
the basis that the transactions did not exceed 25% of the fair market value o f the Company’s
market capitalization and the Loans are on reasonable commercial terms that are not less
advantageous to the Company than if the Loans were obtained from a person dealing at arm’s
length with the Company.
Moreover, the Related Party, to the extent that it holds Nio common shares and that its Amended
Loan Agreement is not convertible, will experience the same effects as other Nio shareholders
as a result of the Amended Loan Agreement.
The Company did not file a material change report more than 21 days before entering into the
Amended Loan Agreement as the terms of the Amended Loan Agreement were not settled until
shortly prior to execution and the Company and the parties wished to close the Amended Loan
Agreement on an expedited basis for sound business reasons.
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 property in Oka, Québec and other
exploration properties 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 website (https://niostratmet.com/).
For more information, please 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.sedar.com, 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.