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NioBay Metals Announces $10 Million Private Placement
NioBay Metals Announces $10 Million Private Placement Canada NewsWire MONTR...
About this update from Niobay Metals Inc.
[{"type":"text","content":"\n \n \n \n NioBay Metals Announces $10 Million Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n MONTREAL, Nov. 16, 2020\n \n \n \n \n \n TSX-V: NBY\n \n \n \n \n MONTREAL\n \n ,\n \n Nov. 16, 2020\n \n /CNW/ - NioBay Metals Inc. (\"NioBay\" or the \"Company\") (TSX-V: NBY) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of agents that includes Sprott Capital Partners LP (collectively, the \"Agents\"), in connection with a \"best efforts\" private placement (the \"Offering\") as follows:\n \n \n \n an aggregate of up to 10,769,231 units (the \"Units\") of the Company at an issue price of\n \n $0.65\n \n per Unit for aggregate gross proceeds of\n \n $7,000,000\n \n each Unit will be comprised of one common share of the Company (each, a \"Common Share\") and one-half-of-one common share purchase warrant of the Company (each whole warrant, a \"Warrant\") with each Warrant entitling the holder thereof to acquire one Common Share at a price of\n \n $0.90\n \n per share for a 36-month period following the closing date of the Offering; and\n \n \n an aggregate of up to 4,411,765 Common Shares that will qualify as \"flow-through shares\" (within the meaning of subsection 66 (15) of the Income Tax Act (\n \n Canada\n \n )) (\"Flow-Through Shares\") at an issue price of\n \n $0.68\n \n per Flow-Through Share for aggregate gross proceeds of up to\n \n $3,000,000\n \n .\n \n \n \n In addition, the Agents have been granted an option to sell up to that number of an additional Units and FlowThrough Shares for additional gross proceeds of up to\n \n $1,500,000\n \n .\n \n \n The net proceeds from the Offering will be used for the development of NioBay's James Bay Niobium Project as well as general corporate purposes.\n \n \n The Offering is expected to close on or about\n \n December 8, 2020\n \n and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the TSX Ventur...