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Niocan Completes $1.2 Million Private Placement
Published : February 19, 2013
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Keywords :   Iron | Metals X | Niobium |

MONTREAL, QUEBEC--(Marketwire - Feb. 19, 2013) -

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA.

Niocan Inc. ("Niocan" or the "Company") (News - Market indicators) announces that it has completed the previously announced private placement with Nio-Metals Holdings LLC ("Nio-Metals") pursuant to which Nio-Metals has subscribed for a unit comprising of $1,200,000 aggregate principal amount of secured subordinated debentures of the Company (the "Debentures") and 1,000,000 warrants (the "Warrants") to purchase common shares of the Company ("Common Shares"), representing aggregate gross proceeds to the Company of $1,200,000 (the "Private Placement").

The Debentures will bear interest at a rate of 10% per annum and will mature 30 months from the date of their issuance, subject to the ability of the Company to repay them at any time without penalty. Each Warrant will entitle its holder to purchase one Common Share at a price of $0.50 at any time until the two year anniversary of the date of their issuance.

Niocan intends to use the proceeds of the Private Placement to continue to fund its exploration and development activities and for general working capital purposes.

Niocan intends to proceed to a subsequent financing in approximately 6 months, the proceeds of which would be used to reimburse the Debentures. However, no assurance can be provided that such a financing will take place. 

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. Niocan's mining assets include mining rights in two properties: 49 claims covering 1,604 acres as well as surface rights on 231 acres at Oka, Quebec; and 460 claims covering 56,166 acres (22,741 hectares) at the Hudson Bay Great Whale Iron Property in Northern Quebec.

FORWARD LOOKING STATEMENTS

Certain statements contained in this press release are forward-looking and are subject to numerous risks and uncertainties, know and unknown, including those related to the ability of the Company to conclude the Private Placement according to the terms and the timeframe described above. For information identifying other known risks and uncertainties, relating to the issuance by the Ministry of Environment of the Certificate of Authorization to build the mine in Oka, financial resources, market prices, exchange rates, politico-social conflicts, competition, regulatory approvals, the purchase of the old St-Lawrence Columbium mine site from the Municipality of Oka should the Certificate of Authorization be issued, and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk and Uncertainties Section of the Corporation's most recent Management's Discussion and Analysis, which may be found at www.sedar.com. Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements. 



Hubert Marleau
Chairman, President and Chief Executive Officer
514-288-8506
514-843-4809 (FAX)
info@niocan.com
Data and Statistics for these countries : United States Of America | All
Gold and Silver Prices for these countries : United States Of America | All
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Niocan Inc.

CODE : NIO.TO
ISIN : CA6539171042
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In the News and Medias of Niocan Inc.
3/3/2011Nio-Metals withdraws offer for Niocan
Financings of Niocan Inc.
2/28/2013Completes the Conversion of its Debentures
1/24/2013Announces Proposed Financing
1/10/2013Advances the Date of Conversion of its Debentures
8/28/2012Announces Extension for the Repayment of its Secured Debentu...
9/6/2011Announces Completion of Private Placement Financing with Nio...
8/29/2011Announces Private Placement Financing with Nio-Metals Holdin...
8/19/2011Announces Revised Terms of Private Placement Financing With ...
7/28/2011on Niocan's Private Placement Financing With Nio-Metals Hold...
6/29/2011Enters Into Binding Term Sheet for Private Placement Financi...
6/6/2011on Niocan's Private Placement Financing with Forbes & Manhat...
5/27/2011on Niocan's Private Placement Financing With Forbes & Manhat...
5/20/2011on Niocan's Private Placement Financing with Forbes & Manhat...
Nominations of Niocan Inc.
7/26/2013Announces Change of Chief Financial Officer
7/26/2013Announces Change of Chief Financial Officer
Project news of Niocan Inc.
11/1/2012(Great Whale)Announces Work Program and Additional Claims for its Great W...
11/1/2012(Great Whale)Announces Work Program and Additional Claims for its Great W...
Corporate news of Niocan Inc.
3/1/2013Shares Remain Listed on the TSX
2/19/2013Completes $1.2 Million Private Placement
12/10/2012Provides an Update on its Activities
10/29/2012Announces New Director and Permanent CEO
9/24/2012Considers Various Alternatives for the Uninterrupted Listing...
11/10/2011Amendment Notice
11/10/2011: Amendment Notice
11/3/2011(Oka Niobium)Refiles NI 43-101 Technical Report on Mineral Resources for ...
8/30/2011Nio-Metals Holdings Acquires Units of Niocan Inc.
6/23/2011Announces Response to Financing Proposal From Augyva Mining ...
6/11/2011on Niocan's Strategic Process and Discussions with Forbes & ...
5/31/2011Provides Update on Developments in Employment Litigation Cas...
5/4/2011Enters into Binding Letter of Intent with Forbes & Manhattan
3/4/2011on Niocan's Strategic Process
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TORONTO (NIO.TO)Other OTC (NIOCF)
0.190+0.00%0.150-40.00%
TORONTO
CA$ 0.190
07/30 15:53 -
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