Niocan Inc.
TSX : NIO

Niocan Inc.

January 24, 2011 19:28 ET

Update Regarding Niocan's Shareholder Rights Plan

TORONTO, ONTARIO--(Marketwire - Jan. 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

FORWARD LOOKING STATEMENTS

Certain statements contained in this press release are forward-looking and are subject to numerous risks and uncertainties, know 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

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