Niocan Announces Extension for the Repayment of its Secured Debentures with Nio-Metals Holdings and Other Investors

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Posted on August 28, 2012

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Niocan Announces Extension for the Repayment of its Secured Debentures with Nio-Metals Holdings and Other Investors

For immediate release

Montreal, Quebec, August 28, 2012. Niocan Inc. (“Niocan” or the “Company”)
(TSX-NIO) announced today that the Company has entered into Amendment
Agreements (the “Amendment Agreements”) with each of the holders of the
Secured Debentures Series 2011-I dated August 29, 2011 (the “Debentures”),
including Nio-Metals Holdings LLC.

Under the terms of the Amendment Agreements, the maturity dates of the
Debentures were extended from August 29, 2012 to August 29, 2013, and
Niocan’s right to redeem the Debentures prior to maturity at a redemption price of
105% of the principal amount has been amended, whereby Niocan may now
proceed to such redemption at any time starting February 28, 2013, and may
effect such redemption payment, either in whole or in part, not only through cash
payments but also, at its sole option, through the issuance of common shares in
the capital of Niocan ("Common Shares"), subject to certain limitations, at a
conversion price which is the greater of $1.45 per Common Share, subject to
adjustments, and the volume weighted average trading price of the Common
Shares for the five (5) trading days prior to the issuance of the Common Shares
less an amount equal to the maximum discount permitted under the rules of the
Toronto Stock Exchange.

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: 49 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.

On behalf of the Board of Directors

For more information, please contact:
Hubert Marleau
Interim Chairman, President and Chief Executive Officer
514-843-4809 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.

Read 5560 times Last modified on Thursday, 25 July 2013 22:13
Published in 2012