Niocan raises $1,080,000. by private placement

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Posted on June 06, 2008

The board of directors of Niocan inc. (NIO, TSX) is pleased to announce that a private placement of its shares for $1,080,000 was fully subscribed. The transaction is subjected to, and will close two business days following approval by the TSX.

Niocan, for this private placement, has issued 1,800,000 common shares from its treasury, at a price of $0.60 per share. The price is a 13 percent premium from Niocan’s closing share price on June 5 of 53 cents on the TSX.

These proceeds will be added to the company’s cash position and for its future working capital needs.

Niocan is focused to obtain the Certificate of Authorization (CA) from the Quebec Ministry of Sustainable Development, Environment and Parks (MSDEP) for its Oka niobium mine project. Niocan’s other asset is the Great Whale iron property located 125 km North of Radisson on Inuit territory class III and the company is actively exploring alternatives to enhance the project and its shareholders value.

Read 4405 times Last modified on Thursday, 25 July 2013 22:32
Published in 2008