2011

Amendment Notice

Thursday, 10 November 2011 23:49

Avis de Modification

Tuesday, 08 November 2011 23:52

FOR ITS OKA NIOBIUM PROPERTY

MONTREAL, QC November 3ts 2011 – Niocan Inc. (TSX:NIO) today announced the refiling of its report on the mineral resources at its niobium property located in the Ste-Sophie range of Oka as per National Instrument 43-101 (“NI 43-101”) and the CIM mineral resources classifications. The report was prepared by Mr. Jean-Claude Caron P.Eng and Mr Serge Lavoie. Geological engineer and qualified person (QP) according to NI 43-101 rules. Mr. Caron (process engineer) and Mr. Lavoie (geologist) both worked at the former St. Lawrence Columbium property in Oka when it was in operation.
Following a comment letter received in July 2011, from the Autorité des Marchés Financiers regarding compliance with NI 43-101, modifications were made to the technical report entitled: “Modèle géologique et estimation des resources de niobium de la zone S-60, Oka, Québec”.

These are as follow:
The word ‘gisement’ was replaced by ‘Zone S-60’
The word ‘minerai’ was replaced by ‘minéralisation, ou carottes minéralisées’
Everytime that historical resources were mentioned it was spedified :These mineral resources are historical in nature and have not been validated by the independent qualified person. These mineral resources are not compliant with NI 43-101 and should not be relied upon.’

The report and the modifications were prepared by Mr. Serge Lavoie, geological engineer and qualified person (QP) according to NI 43-101 rules. Mr. Lavoie was a geologist at the former St. Lawrence Columbium property in Oka when it was in operation.

Additional drilling of the main deposit at Oka, the S-60 zone, was made by Niocan in 1995-1997 with 59 DDH, for a total of 21,976 meters. The steeply dipping cylindrical shaped deposit defined in the drilling campaign has an approximate dimension of 100m by 80m and extends 500 meters below surface. The deposit is still open at depth.

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Niocan Announces Completion of Private Placement Financing with Nio-Metals Holdings LLC and Other Investors

 

Toronto, Ontario, September 6, 2011: Niocan Inc. (“Niocan” or the “Company”) (TSX-NIO)
announced today that the Company has received payment for all subscriptions and has
completed the issuance of an aggregate of 3,005 units (each, a “Unit”) at an issue price of
$1,000 per Unit, representing aggregate gross proceeds to the Company of $3,005,000 (the
“Private Placement”). The principal investor is Nio-Metals Holdings LLC (“Nio-Metals”) which
has purchased 1,750 of the Units.

Each Unit is comprised of one $1,000 principal amount of a secured debenture (“Debenture”)
and 520 transferable common share purchase warrants of Niocan (each, a “Warrant”). Each
Debenture will mature on August 30, 2012 and will bear interest at an annual rate of 12%. The
principal amount and interest may be payable in cash or common shares of Niocan (“Common
Shares”) at Niocan’s sole option (subject to certain limitations), with the number of shares to be
determined based on a conversion price of $1.45 per Common Share. Niocan will also have the
right to redeem the Debentures prior to maturity at a cash redemption price of 105% of the
principal amount. Each Warrant will entitle the holder thereof to purchase one Common Share
at a price of $1.45 (the “Exercise Price”) until August 29, 2014.

As required by the Toronto Stock Exchange, a maximum of 2,076,383 Common Shares may be
issued or made issuable to Nio-Metals in connection with the Private Placement. Consequently,
187,890 of the Warrants acquired by Nio-Metals may not be exercised without prior approval of
disinterested shareholders of Niocan, other than in certain circumstances. The remainder of the
Warrants acquired by Nio-Metals are not subject to these restrictions and may be exercised at
any time.

Further to the Company’s press release of August 29, 2011, the board of directors has
appointed Mr. Mark Wallace as a director to fill the vacancy created by the resignation of Mr.
Lars-Eric Johansson.

About Niocan
Niocan’s mission is to become a ferroniobium producer as soon as possible, following the
issuance of a Certificate of Authorization from the Ministry of Sustainable Development,
Environment and Parks for its Oka niobium property. Mining assets include mining rights in two
(2) properties: 48 claims covering 1604 acres as well as surface rights on 231 acres at Oka and
the Hudson Bay Great Whale Iron property covering 17,098 acres.
2000 rue Peel, bureau 760
Montréal (Québec) H3A 2W5
Tél: (514) 288-8506
Fax: (514) 843-4809


On behalf of the Board of Directors

For more information, please contact
Hubert Marleau
Interim Chairman of the Board and CEO
514-288-8506
514-843-4809 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.

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NIO-METALS HOLDINGS ACQUIRES UNITS OF NIOCAN INC.
New York, New York – August 30, 2011. Nio-Metals Holdings LLC (“Nio-Metals”) announced that it
has entered into definitive subscription agreements with Niocan Inc. (“Niocan”) for the purchase, on a
private placement basis, of 1,750 units (the “Units”) at a purchase price of $1,000 per Unit, for an
aggregate gross price of $1,750,000 (all figures in Canadian Dollars). Each Unit is comprised of one
$1,000 principal amount of secured debenture (“Debenture”) and 520 transferable common share
purchase warrants of Niocan (each, a “Warrant”). Each Warrant expires on the day that is 3 years from
the date of the issuance of the Warrant. Each Debenture bears an interest rate of 12% per annum. The
principal amount and interest may be payable in cash or common shares of Niocan (“Common Shares”)
at Niocan’s sole option, with the number of shares to be determined based on a price that is the greater of
$1.45 per Common Share and a calculation based on the then current market price of Niocan’s Common
Shares. Niocan will also have the right to redeem the Debentures prior to maturity at a cash redemption
price of 105% of the principal amount. Each Warrant will entitle the holder thereof to purchase one
additional Common Share at a price of $1.45 until 5:00 p.m. on the day that is three years from the date of the issuance of the Warrant.


The Units are being acquired for investment purposes and Nio-Metals and/or one or more of its affiliates
may, depending on market and other conditions, increase or decrease its beneficial ownership of Common
Shares or other securities of Niocan whether in the open market, by privately negotiated agreement or
otherwise. 

Nio-Metals Holdings LLC is located at 535 Madison Avenue, 11th Floor, New York, NY 10022. A copy
of the report relating to this acquisition can be obtained from Michael Williams 646-365-1600 or on
Niocan’s profile at www.SEDAR.com.

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