Niocan Increases Private Placement Financing to up to C$2.4 Million of Units
For Immediate Release TSX.V - NIO
NIOCAN INCREASES PRIVATE PLACEMENT FINANCING TO UP TO C$2.4 MILLION OF UNITS
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
(Montreal, Québec, September 20, 2021) – Niocan Inc. (TSX -V: NIO) (“ Niocan” or the
“Company”) is pleased to announce that, due to market demand, it has increased the maximum
amount of its previously announced best efforts private placement of units (“Units”), at a price
of C$0.10 per Unit (the “Offering Price”), from 21,500,000 Units for maximum gross proceeds of
C$2.15 million to 24,000,000 Units for maximum gross proceeds of C$2.4 million . The minimum
offering size remains at 12,500,000 Units for minimum gross proceeds of C$1 .25 million. Niocan
has also granted to the agent under the offering, Palos Wealth Management, an option to sell up
to an additional 4,800,000 Units at the Offering Price (the “Agent’s Option”). If the Agent’s
Option is exercised in full, the maximum gross proceeds of the private placement would be C$2.88
million.
Each Unit consist of one common share of the Company (each a “Common Share”) and one-half
of one Common Share purchase warrant (each full warrant, a “Warrant”). Each Warrant will be
exercisable to acquire one Common Share for a period of 24 months following the date of its
issuance at an exercise price of C$0.12.
The Company anticipates the closing date to occur during the week of September 27, 2021.
About Niocan
Niocan 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. Niocan’s Oka mining property consists of mining rights
comprised of 49 claims covering 2,281 acres and its Great Whale property consists of surface and
mining rights covering 24,944 acres on the Hudson Bay territory.
For more information on the Company, please refer to the Company’s public documents available
on SEDAR (www.sedar.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. Without limiting
the generality of the foregoing statements , the Company meeting all conditions for a timely
closing of the Offering, including obtaining a ll required subscriptions, are forward looking
statements. 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 Niocan’s 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 Niocan 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, Niocan disclaims any
intention or obligation to update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.