Niocan Inc.
TSX : NIO

Niocan Inc.

January 21, 2011 08:30 ET

Niocan Adopts Limited Duration Shareholder Rights Plan

TORONTO, ONTARIO--(Marketwire - Jan. 21, 2011) - Niocan Inc. ("Niocan" or the "Company") (TSX:NIO) announces that the Company's Board of Directors has approved on January 20, 2011 the adoption of a limited duration shareholder rights plan, subject to TSX acceptance. The rights plan is designed to ensure that in the context of an unsolicited take-over bid, the Board of Directors has adequate time to fully assess any potential alternative transactions to maximize shareholder value. The rights plan is effective immediately and will remain in effect for a period of 180 days, after which time it will expire if the rights have not otherwise terminated in accordance with the plan. The rights plan is not intended to prevent take-over bids that treat Niocan's shareholders fairly.

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

FORWARD LOOKING STATEMENT

Certain statements contained in this press release are forward-looking and are subject to numerous risks and uncertainties, known and unknown. For information identifying 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, politicosocial conflicts, competition, 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.

Contact Information

  • Niocan Inc.
    Hubert Marleau
    Interim Chairman of the Board and CEO
    514-288-8506
    514-843-4809 (FAX)
    info@niocan.com