2011

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Update on Niocan’s Private Placement Financing with Forbes & Manhattan

Toronto, Ontario, May 27, 2011: On May 4, 2011, Niocan Inc. (“Niocan” or the “Company”)
(TSX-NIO) announced that the Company had entered into a binding letter of intent (the “LOI”)
with Forbes & Manhattan, Inc. (“F&M”) whereby F&M, its affiliates and/or assigns would provide
Niocan with the lead order for a private placement of 5,157,000 common shares of Niocan at a
price of $1.15 per share. On May 20, 2011, Niocan announced that the Company had agreed to
extend the exclusivity period in the LOI to May 27, 2011 to allow additional time to complete due
diligence and negotiate a definitive subscription agreement. Discussions between the parties
are still ongoing and as a result, the Company has agreed to further extend the exclusivity
period to June 3, 2011.

About F&M
F&M is a leading merchant bank with a proven track record in managing, developing and
operating iron ore and strategic minerals companies globally. F&M participated in the
development of Consolidated Thompson Iron Mines Ltd. and the Bloom Lake deposit, resulting
in a resource expansion, off-take arrangements with a strategic investor, commercial production
and the subsequent sale to Cliffs Natural Resources Inc. F&M has also been involved in the
management and development of Alderon Resource Corp. Alderon’s Kami property is
strategically located within the Labrador Trough in close proximity to Consolidated Thompson’s
Bloom Lake mine, IOC’s Carol Lake mine and Cliffs Natural Resources Scully mine. F&M has
also been instrumental in the development of the Shymanivske and Zelenivske iron ore projects
located in Krivoy Rog, Ukraine, which are 100% owned by Black Iron Inc.

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.

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Update on Niocan's Private Placement Financing with F&M

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Niocan Enters into Binding Letter of Intent with Forbes & Manhattan

 

Toronto, Ontario, May 4, 2011: Niocan Inc. (“Niocan” or the “Company”) (TSX-NIO) announced today that the Company has entered into a binding letter of intent (“LOI”) with Forbes & Manhattan, Inc. (“F&M”) whereby F&M, its affiliates and/or assigns would provide Niocan with the lead order for a private placement of 5,157,000 common shares of Niocan at a price of $1.15 per share, which represents a 15% premium to the closing price of Niocan’s common shares on the Toronto Stock Exchange on May 3, 2011, being $1.00. The aggregate gross proceeds to the Company from the financing would be approximately $6 million. The proceeds of the private placement will be used to pay the Company’s current operating costs, and to fund the development of the Company’s assets. The Company and F&M have also agreed to work together to propose a reconstituted board of directors and the appointment of a new Chief Executive Officer of the Company.

Completion of the proposed private placement financing is conditional on the completion of due diligence to the sole satisfaction of F&M, and approval from the Toronto Stock Exchange. Niocan has agreed to a 16 day exclusivity period ending on May 20, 2011 to allow the completion of due diligence and the negotiation of a definitive subscription agreement. During that period the Company shall not be permitted to discuss, negotiate or solicit competing financing transactions or the sale of the Company’s assets with any other person. As a result of the conditions referred to above, the Company cautions that no assurance can be given that the financing will be completed.


The execution of the LOI reflects the commitment of the Special Committee and the Board of Directors of Niocan to maximize value for all shareholders through their review of strategic alternatives.


About F&M
F&M is a leading merchant bank with a proven track record in managing, developing and operating iron ore and strategic minerals companies globally. F&M participated in the development of Consolidated Thompson Iron Mines Ltd. and the Bloom Lake deposit, resulting in a resource expansion, off-take arrangements with a strategic investor, commercial production and the subsequent sale to Cliffs Natural Resources Inc. F&M has also been involved in the management and development of Alderon Resource Corp. Alderon’s Kami property is strategically located within the Labrador Trough in close proximity to Consolidated Thompson’s Bloom Lake mine, IOC’s Carol Lake mine and Cliffs Natural Resources Scully mine. F&M has also been instrumental in the development of the Shymanivske and Zelenivske iron ore projects located in Krivoy Rog, Ukraine, which are 100% owned by Black Iron Inc.


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

UPDATE ON NIOCAN’S STRATEGIC PROCESS

Friday, 04 March 2011 00:21

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UPDATE ON NIOCAN’S STRATEGIC PROCESS

Montreal, Québec, March 4, 2011: Niocan Inc. (“Niocan” or the “Company”) (TSX-NIO) is pleased to provide the following update regarding its ongoing strategic process.

As a result of receiving previously announced acquisition proposals from both Nio-Metals Holdings LLC (“Nio-Metals”) and Augyva Mining Resources Inc. (“Augyva”) in mid-January, the Company formed a special committee of directors (the “Special Committee”) and engaged legal and financial advisors to evaluate these opportunities and to explore other potential strategic alternatives, all with the objective of maximizing shareholder value.

On March 2, 2011, Nio-Metals announced by press release that it has withdrawn its proposal for a business combination with the Company. The Company has had numerous discussions with Nio-Metals regarding its proposal and the Special Committee, with the advice of its advisors, concluded that the price proposed by Nio-Metals was inadequate and not fair to the Company’s shareholders. While the Special Committee is disappointed with Nio-Metals’ decision, it remains willing to continue discussions with Nio-Metals if Nio-Metals is willing to propose a transaction that adequately values the Company and which is in the best interests of all of its shareholders.

The Company also looks forward to receiving Augyva’s previously announced formal takeover bid and assessing the terms and conditions of that offer.

In addition, the Special Committee is actively engaged in the process of exploring and evaluating other strategic alternatives. The Company has set up a data room and is currently in discussions with a number of additional third parties who have expressed interest in exploring a transaction with the Company.
The Special Committee is committed to pursuing alternatives that will maximize shareholder value and looks forward to providing future updates as the strategic process progresses.

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.

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UPDATE REGARDING NIOCAN’S SHAREHOLDER RIGHTS PLAN

Toronto, Ontario, January 24, 2011: Niocan Inc. (“Niocan” or the “Company”) (TSX-NIO)
announces that it has been notified by the Toronto Stock Exchange (the “TSX”) that the TSX will
defer consideration of the acceptance of the shareholder rights plan of Niocan (the “Rights
Plan”) until such time as the TSX is satisfied that the appropriate securities commission will not
intervene pursuant to National Policy 62-202 - Take-Over Bids - Defensive Tactics. Pursuant to
TSX policies, the TSX automatically defers acceptance of shareholder rights plans adopted in
response to a specific take-over bid. Even though the TSX has deferred its review of the Rights
Plan, the Rights Plan remains in effect. A copy of the Rights Plan is available at
www.sedar.com.


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.


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.

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