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Niocan Inc ( (TSE:NIO) ) has provided an announcement.
Nio Strategic Metals Inc. has closed a non-brokered private placement, issuing 34,515,967 common shares at $0.155 per share for gross proceeds of about $5.35 million. The financing, which is still subject to final TSX Venture Exchange approval and carries a four-month hold period on the new shares, also involved cash and share-based finder’s fees to certain intermediaries.
The company plans to use the net proceeds to advance exploration of its critical mineral projects in Québec, including technical and environmental impact studies, as well as for general corporate purposes. The capital raise strengthens Nio’s ability to progress its niobium-focused assets toward potential development, which could enhance its position in the critical minerals sector and support longer-term ambitions to become a ferroniobium producer.
More about Niocan Inc
Nio Strategic Metals Inc. is a Canadian exploration and development company focused on critical minerals, with an ambition to become a ferroniobium producer. The corporation holds niobium properties in Oka and near Mont-Laurier, along with another exploration property elsewhere in Québec, positioning it within the strategic metals and critical minerals supply chain.
Average Trading Volume: 90,027
Technical Sentiment Signal: Buy
Current Market Cap: C$27.02M
Find detailed analytics on NIO stock on TipRanks’ Stock Analysis page.