Nio-Metals Holdings LLC

September 18, 2015 10:06 ET

Nio-Metals Holdings Acquires 2,850,000 Units of Niocan Inc.

NEW YORK, NEW YORK--(Marketwired - Sept. 18, 2015) - Nio-Metals Holdings LLC (the "Offeror") announces that, pursuant to a private placement of Niocan Inc. (the "issuer") which closed on September 17, 2015 (the "Closing"), the Offeror subscribed for 2,850,000 units of the issuer (the "Units") at a subscription price of $285,000 in the aggregate. Each Unit comprised of one (1) common share in the capital of the issuer (a "Common Share"); and one (1) Common Share purchase warrant (a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one Common Share at a price of $0.15 until the five year anniversary of the date of its issuance.

As a result of the Offering, the Offeror holds: (i) 12,834,741 Common Shares, or 49.4% of the issued and outstanding Common Shares; and (ii) 2,850,000 Warrants described above. Should the Offeror exercise all of the Warrants, the Offeror would hold 15,684,741 Common Shares, representing approximately 54.5% of the issued and outstanding Common Shares (on a partially diluted basis).

The Units were acquired for investment purposes and the Offeror 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 the issuer whether in the open market, by privately negotiated agreement or otherwise.

The Offeror is an "accredited investor" (as such term is defined in National Instrument 45-106 - Prospectus and Registration Exemptions adopted by the Canadian Securities Administrators ("NI 45-106")) because the Offeror is a "person" (as such term is defined in NI 45-106) in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are "accredited investors".

The Offeror is located at 700 Madison Avenue, 5th Floor, New York, NY, USA 10065. A copy of the early warning report relating to the Closing can be obtained from Michael Williams (646-365-1600) or on the SEDAR profile of the issuer at www.sedar.com.

Contact Information

  • Michael Williams
    646-365-1600