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Posted on June 30, 2011


New York, New York – June 30, 2011. On June 29, 2011, Nio-Metals Holdings LLC (“Nio-Metals”)
entered into a binding term sheet with Niocan Inc. (“Niocan”) pursuant to which Nio-Metals has agreed
to purchase by way of private placement in reliance on the accredited investor exemption a minimum of
2,000 units (each, a “Unit”) and a maximum of 4,000 Units at an issue price of $1,000 per Unit,
representing aggregate gross proceeds to the company of a minimum of $2 million and a maximum of $4
million. Each Unit comprises one $1,000 principal amount of secured debenture (“Debenture”) and 370
transferable common share purchase warrants of Niocan (each, a “Warrant”). Each Debenture will
mature one year from the closing of the private placement and will bear annual interest at a rate of 10%.
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 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 additional Common Share at a price of $1.45 until 5:00 p.m. on the day that is two years
from the date of the issuance of the Warrant. Nio-Metals will purchase at least 2,000 Units and Niocan
may seek other purchasers for the additional 2,000 Units. Niocan may require Nio-Metals to purchase any
remaining Units not acquired by other purchasers.

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

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

The filing of this report is not an admission that an entity named in the report owns or controls any
described securities or is a joint actor with another named entity.

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Published in 2011