Niocan Completes $1.2 Million Private Placement

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Posted on janvier 19, 2013

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA.

Niocan Completes $1.2 Million Private Placement

For immediate release

Montreal, Quebec, February 19, 2013. Niocan Inc. (“Niocan” or the “Company”) (TSX-NIO) announces that it has completed the previously announced private placement with Nio-Metals Holdings LLC (“Nio-Metals”) pursuant to which Nio-Metals has subscribed for a unit comprising of $1,200,000 aggregate principal amount of secured subordinated debentures of the Company (the “Debentures”) and 1,000,000 warrants (the “Warrants”) to purchase common shares of the Company (“Common Shares”), representing aggregate gross proceeds to the Company of $1,200,000 (the “Private Placement”).

The Debentures will bear interest at a rate of 10% per annum and will mature 30 months from the date of their issuance, subject to the ability of the Company to repay them at any time without penalty. Each Warrant will entitle its holder to purchase one Common Share at a price of $0.50 at any time until the two year anniversary of the date of their issuance.

Niocan intends to use the proceeds of the Private Placement to continue to fund its exploration and development activities and for general working capital purposes.

Niocan intends to proceed to a subsequent financing in approximately 6 months, the proceeds of which would be used to reimburse the Debentures. However, no assurance can be provided that such a financing will take place.

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. Niocan’s mining assets include mining rights in two properties: 49 claims covering 1,604 acres as well as surface rights on 231 acres at Oka, Quebec; and 460 claims covering 56,166 acres (22,741 hectares) at the Hudson Bay Great Whale Iron Property in Northern Quebec.


For more information, please contact:
Hubert Marleau
Chairman, President and Chief Executive Officer
514-288-8506
514-843-4809 (fax)
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Published in 2013