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NioBay Metals Announces Closing of Brokered Life Offering and Concurrent Private Placement for Gross Proceeds of C$8.9 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Niobay Metals Inc.
[{"type":"text","content":"NioBay Metals Announces Closing of Brokered Life Offering and Concurrent Private Placement for Gross Proceeds of C$8.9 Million\nNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES MONTREAL, Dec. 18, 2025 (GLOBE NEWSWIRE) -- NioBay Metals Inc. (TSX-V: NBY) (“NioBay” or the “Corporation”), is pleased to announce the closing of its previously announced “best efforts” private placement (the “Brokered Offering”) for aggregate gross proceeds of C$8,497,990.20, which includes the exercise of the agent’s option. The Brokered Offering is comprised of the sale of (i) 12,277,430 units of the Corporation (each, a \"Unit\") at a price of C$0.14 per Unit (the \"Unit Price\"), (ii) 28,306,250 flow-through units of the Corporation (each, a \"FT Unit\") at a price of C$0.16 per FT Unit, and (iii) 10,715,000 flow-through units of the Corporation sold to charitable purchasers (each, a \"Charity FT Unit\") at a price of C$0.21 per Charity FT Unit. Red Cloud Securities Inc. (“Red Cloud”) acted as sole agent and bookrunner in connection with the Brokered Offering. Concurrent to the Brokered Offering, the Company has closed a non-brokered private placement of 2,296,250 FT Units at a price of C$0.16 per FT Unit, for gross proceeds of C$367,400 (the “Concurrent Private Placement” and together with the Brokered Offering, the “Offering”). Each Unit consists of one common share of the Corporation (a “Unit Share”) and one common share purchase warrant (each, a “Warrant”). Each FT Unit and Charity FT Unit consists of one common share of the Corporation and one Warrant, each of which is issued as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each respectively, a “FT Share” and a “FT Warrant”). Each Warrant and each FT Warrant entitle the holder to purchase one common share of the Corporation (each, a “Warrant Share”) at a price of C$0.20 at any time on or before December 18, 2028. The Corporation intends to use the gross proceeds from the FT unit and Charity FT Unit placement for the exploration and advancement of the Corporation’s James Bay Niobium Project located in Onta...