Niocan Inc. enters into a $ 500,000 loan agreement to extend Great Whale’s claims and support ongoing funding



Montreal, Quebec – TheNewswire – March 22, 2021 – Niokan Inc. (“Niokan” or the “society“(TSXV: NOK) announces that it has made an agreement (the “Credit Agreement“) with Nio-Metals Holdings LLC (“Non-ferrous metals“) for a unsecured bridging loan $ 500,000 investment (the “loan“). The purpose of the loan is to enable Niocan to renew claims on its Great Whale iron property as well continue to work towards significantly larger funding.

Niokan is continuing discussions with interested parties about possible funding to raise sufficient funds to obtain the necessary permits and permits to develop its Oka property. Niocan’s management is also pursuing funding activities to continue exploration activities on the Great Whale iron property.

Hubert Marleau, President and CEO of Niocan: “This loan from Nio-Metals provides us with the ongoing support we need on the Great Whale Iron Property as we advance the raising of the additional capital needed to obtain the permit and Social certificate required is acceptance regarding the property Oka. The company looks forward to becoming a ferroniobe producer as soon as possible while investing in its three mineral deposits (historical resources) of magnetite ore near the Great Whale River. “

The loan has a term of 24 months, bears interest at 6% pa and is not convertible. The loan can be repaid at any time prior to the due date with no penalty.

The loan agreement was approved by all independent directors of Niocan, with the Nio-Metals candidate withdrawing from the decision.

Related Party Disclosures

According to multilateral instrument 61-101 – Protection of minority paper holders in special transactions (“MI 61-101“), The loan agreement constitutes a” related party transaction “as Nio-Metals currently holds 49.4% of the company’s issued and outstanding common stock.

The company is exempt from obtaining minority shareholder consent in connection with the loan agreement under Section 5.7 (1) (a) of MI 61-101 as the market value of the loan does not exceed 25% of the company’s market capitalization. The loan (and its related party transactional component) will also be disclosed in the Company Material Changes report filed on SEDAR less than 21 days prior to the date the loan agreement was signed, as Niocan has immediate access to the loan.

More information about the company can be found in the on SEDAR. available company public documents (

For more information, please contact:

Hubert Marleau

Chairman, President and Chief Executive Officer

(514) 560-7623


This press release contains certain statements that are “forward-looking statements” within the meaning of Canadian securities laws. Any statement in this press release that is not historical fact may be considered a forward-looking statement. As used in this press release, the words “believe,” “could,” “should,” “intend,” “expect,” “estimate,” “assume” and other similar expressions are generally used to identify forward-looking statements. Such statements are based on assumptions, estimates, opinions and analyzes of the company management in the light of their experiences, the current conditions and their expectations with regard to future developments as well as other factors that they consider appropriate and relevant. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Risks and uncertainties that could cause actual results to vary include, but are not limited to: the Company’s inability to obtain additional funding on acceptable terms or at all; Changes in the equity and debt capital markets; Inflation; Uncertainties about the availability and cost of funding required to complete exploration, development and production activities; Failure to determine estimated mineral resources or mineral reserves; Exploration costs differ significantly from estimates; Delays in the exploration and development and / or commercial production of the properties in which the Company has an interest; unexpected geological or hydrological conditions; the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties, including failure of critical mining and / or milling equipment; the company’s ability to service its existing credit facilities; Fluctuations in niobium and other commodity prices; the existence of undiscovered or unregistered interests or claims in the company’s property; Success of future exploration and development initiatives; Competition; Facility operating performance; Environmental and safety risks, including increased regulatory loads, seismic activity, weather and other natural phenomena; Inability or delays in obtaining required permits and approvals from government agencies; work-related risks; and other exploration, development and operational risks; Changes to and compliance with applicable laws and regulations, including environmental laws; political, economic and other risks arising from the company’s activities; Fluctuations in exchange rates; and the risks set out in the company’s public filings on file with SEDAR. Unless otherwise required by applicable securities laws, Niocan disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing risks and uncertainties include those identified under “Risks and Uncertainties” in Niocan’s latest MD&A as well as other risks that are listed from time to time in reports filed by Niocan with securities regulators in Canada.



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