Business
Niocan Inc. - Early Warning Report filed pursuant to National Instrument 62-103
NEW YORK, June 6 /CNW/ - 1. Name and address of the offeror: Nio-Metals Holdings LLC
About this update from Nio Strategic Metals Inc
[{"type":"text","content":"\n\n\n\nNEW YORK, June 6 /CNW/ -\n\n\n1. Name and address of the offeror:\n\n Nio-Metals Holdings LLC\n 1370 Avenue of the Americas, 19th Floor-\n New York, NY 10019\n\n2. Designation and number or principal amount of securities and the\n offeror's securityholding percentage in the class of securities of\n which the offeror acquired ownership or control in the transaction or\n occurrence giving rise to the obligation to file the news release,\n and whether it was ownership or control that was acquired in those\n circumstances:\n\n On June 6, 2008, Nio-Metals Holdings LLC (the "Offeror") entered into\n a subscription agreement with Niocan Inc. (the "Issuer") to purchase\n 1,800,000 newly-issued common shares of the Issuer (the "Subscription\n Agreement Shares") at a purchase price of Cdn. $0.60 per common\n share. The Subscription Agreement Shares represent 9.57% of the\n number of outstanding common shares of the Issuer on the date of this\n report. The completion of the purchase of the Subscription\n Agreement Shares is subject to the approval of the Toronto Stock\n Exchange.\n\n On June 6, 2008, the Offeror also entered into a Share Purchase\n Agreement with RSM Richter Inc., in its capacity as court-appointed\n receiver of Honeybee Software Technologies Inc. (formerly Northshield\n Investment Corporation) (the "Vendor"), pursuant to which the Offeror\n has agreed to purchase and the Vendor has agreed to sell 2,000,000\n common shares of the Issuer (the "Purchase Agreement Shares") at a\n purchase price of Cdn. $0.60 per common share. The Purchase Agreement\n Shares represent 10.63% of the number of outstanding common shares of\n the Issuer on the date of this report. The completion of the purchase\n of the Purchase Agreement Shares is subject to the approval of the\n Ontario Superior Court of Justice (Commercial List). The acquisition\n of the Purchase Agreement Shares is being made by the Offeror in\n reliance upon the private agreement exemption afforded by Section\n 101.1(1) of the Securities Act (Ontario) and by Section 4.2(1) of\n Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids.\n\n After giving effect to the transactions described above, the Offeror\n will have acquired beneficial ownership of a total of 3,800,000\n common shares of the Issuer, representing...