NIO Strategic Metals Reports ON Government Initiatives to Secure Niobium Critical Metal and a Status Update
For Immediate Release TSX-V - NIO
NIO STRATEGIC METALS REPORTS ON GOVERNMENT
INITIATIVES TO SECURE NIOBIUM CRITICAL METAL AND A
STATUS UPDATE
(Montreal, Quebec, March 21, 2024) – Nio Strategic Metals Inc. (TSX-V: NIO) (OTC:NIOCF)
(“Nio” or the “ Company”) reports that government initiatives for development of critical and
green metals continue to reinforce the value of the Company’s niobium resource at the Oka
Project in central Quebec.
“Canadian and U.S. governments are really pushing new strategies and funding initiatives to
address the problem of critical mineral supplies,” said Nio President and CEO Hubert Marleau.
“North America and Europe are just too dependent on foreign sources for the critical metals
required for essential needs in areas such as clean energy and defense.”
In December 2022, the Canadian government released its report entitled The Canadian Critical
Minerals Strategy – From Exploration to Recycling: Powering the Green and Digital Economy for
Canada and the World which recognizes that critical minerals represent a generational
opportunity for Canada’s workers, economy and net -zero future. Such minerals are the
foundation on which our modern economy is built and that list includes niobium.
“Our priority remains to increase our presence in the critical metals ecosystem ,” added Mr.
Marleau. “It’s clear that North America is going to need a lot more niobium. We remain fairly
busy as we conduct various activities concurrently including negotiations with stakeholders.
Furthermore, we are constantly seeking proposition s from third parties involved in the
exploration and development of critical material s or minerals classified as strategic by
governments.”
Nio engaged geo surveys expenses during 2023 to determine the Residual Total Magnetic
Intensity at the Oka property. A regional magnetic gridded dataset was obtained from the data
grid. The strong magnetic anomalies depicting concentric elliptic rings, were interpreted to
pertain to the Oka carbonatite intrusion by Prospectair Geosurveys who conducted the study.
“Governments are just starting to understand the importance of niobium,” said Marleau. “It has
flown largely under the radar, even though it’s essential for airplanes, bridges and buildings and
electric vehicles batteries that could revolutionize new and green technologies.”
Common share purchase warrants
Last October 2023, 4,142,434 outstanding warrants to purchase common shares at a price of
$0.12 per share (each a “warrant”) were exercised. The Company has received consideration of
CA$497,080 in respect of those warrants exercised.
The warrants were issued in connection with the Corporation's private placement of units
completed in October 2021 and were set to expire on October 15, 2023.The exercise price of
the warrants was C$0.12.
Management and directors of the Company have exercised 400,000 warrants they detained.
Hubert Marleau , President and Chief Executive Officer, commented, " this infusion of equity
indicates that investors are confident in the long -term value of Nio, and shows their ongoing
support in our planned corporate activities into critical and strategic metals , including the
Niobium-mining project in Oka."
Option Grant
In September 2023 , the Company Board of Directors has granted 200,000 stock options in
accordance with its stock option plan to a newly appointed director. 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 TSX Venture Exchange policies. The options, granted in accordance with the
provisions of the Company's stock option plan, are subject to the TSX Venture Exchange policies
and the applicable securities laws.
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 Stategic Metals’s annual and/or quarterly management discussion and analysis and in other
of its public disclosure docum ents 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.