Business
Niocan Increases Private Placement Financing to up to C$2.4 Million of Units
(TheNewswire) Montreal, Québec – TheNewswire - September 20, ...
About this update from Nio Strategic Metals Inc
[{"type":"text","content":"Niocan Increases Private Placement Financing to up to C$2.4 Million of Units\n \n \n (TheNewswire)\n \n \n \n \n \n \n Montreal, Québec –\n \n \n TheNewswire -\n \n \n September 20, 2021\n \n \n – Niocan Inc. (TSXV:NIO)\n \n \n (OTC:NIOCF)\n \n \n (“\n \n \n Niocan\n \n \n ” or the “\n \n \n Company\n \n \n ”) is\npleased to announce that, due to market demand, it has increased the\nmaximum amount of its previously announced best efforts private\nplacement of units (“\n \n \n Units\n \n \n ”), at a price of C$0.10 per Unit (the\n“\n \n \n Offering Price\n \n \n ”), from 21,500,000 Units for maximum gross proceeds of\nC$2.15 million to 24,000,000 Units for maximum gross proceeds of C$2.4\nmillion. The minimum offering size remains at 12,500,000 Units for\nminimum gross proceeds of C$1.25 million. Niocan has also granted to\nthe agent under the offering, Palos Wealth Management, an option to\nsell up to an additional 4,800,000 Units at the Offering Price (the\n“\n \n \n Agent’s\nOption\n \n \n ”). If the Agent’s Option is exercised\nin full, the maximum gross proceeds of the private placement would be\nC$2.88 million.\n \n \n \n \n Each Unit\n \n \n consist of one common\nshare of the Company (each a “\n \n \n Common Share\n \n \n ”) and one-half of one Common\nShare purchase warrant (each full warrant, a “\n \n \n Warrant\n \n \n ”). Each\nWarrant will be exercisable to acquire one Common Share for a period\nof 24 months following the date of its issuance at an exercise price\nof C$0.12.\n \n \n \n \n The Company anticipates the closing date to occur\nduring the week of September 27, 2021.\n \n \n \n \n About Niocan\n \n \n \n \n Niocan is an exploration and development company, with\na focus on becoming a ferroniobium producer.\n \n \n \n \n The Company holds a niobium\nproperty in Oka, Québec and other exploration properties in the\nProvince of Québec. Niocan’s Oka mining property consists of mining\nrights comprised of 49 claims covering 2,281 acres and its Great\nWhale property consists of surface and mining rights covering 24,944\nacres on the Hudson Bay territory.\n \n \n \n \n For more information on the Company, please refer to\nthe Company’s public docum...