Niocan Announces Private Placement Financing with Nio-Metals Holdings LLC and Changes to Niocan’s Board of Directors

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Posted on August 29, 2011

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Niocan Announces Private Placement Financing with Nio-Metals Holdings LLC
and Changes to Niocan’s Board of Directors


Toronto, Ontario, August 29, 2011: Niocan Inc. (“Niocan” or the “Company”) (TSX-NIO)
announced today that the Company has received signed subscription agreements from three
investors for an aggregate of 2,205 units (each, a “Unit”) at an issue price of $1,000 per Unit,
representing aggregate gross proceeds to the Company of $2,205,000 (the “Private
Placement”). The principal investor is Nio-Metals Holdings LLC (“Nio-Metals”) which will
purchase 1,750 of the Units. The terms of the Private Placement are the same as those
announced in the Company’s press release dated August 19, 2011.
The Company expects further investors to agree to purchase an additional 800 Units,
representing gross proceeds of $800,000. The Company expects to complete the issuance and
sale all of the Units and receive aggregate proceeds of $3,005,000 on or prior to September 2,
2011.


The Special Committee of directors of the Company has now completed its process of
assessing various strategic alternatives and has been disbanded. The Company would like to
thank the Special Committee members for their invaluable service.

Finally, the Company announces the resignation of Mr. Lars-Eric Johansson from the Board of
Directors effective today. The Board will appoint Mr. Mark Wallace to the position of director to
fill the vacancy created by the resignation of Mr. Johansson.

Mr. Wallace is an officer of Nio-Metals and serves as the Chief Executive Officer of Tigris
Financial Group Ltd., a New York City-based investment and asset management firm that
focuses on natural resources and the natural resources sector through its related Electrum
Group of Companies. Ambassador Wallace served previously as United States Ambassador to
the United Nations, Representative for U.N. Management and Reform. Prior to his service at the
United Nations, Ambassador Wallace served in a variety of government, political and private
sector posts including in the U.S. Department of Justice, the U.S. Immigration and
Naturalization Service, the U.S. Department of Homeland Security and the U.S. Federal
Emergency Management Agency. Wallace has extensive experience in the private sector as a
lawyer and as a member of the board of directors of various companies and not-for-profits.


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.

Read 4543 times Last modified on Thursday, 25 July 2013 22:16
Published in 2011