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An announcement from Niocan Inc ( (TSE:NIO) ) is now available.
Nio Strategic Metals Inc. has completed a private placement of 6.4 million flow-through common shares, raising approximately $800,000 in gross proceeds under Canadian prospectus exemptions, with all securities subject to a four-month hold period and final approval from the TSX Venture Exchange. The company will use the funds exclusively for qualifying Canadian exploration expenditures to advance an exploration and mineral resource evaluation program on its Oka property in Quebec, aimed at defining the existence and quality of niobium and other critical metals, reinforcing its strategy to progress toward ferroniobium production and potentially enhancing the value of its core assets for shareholders.
More about Niocan Inc
Nio Strategic Metals Inc. is a Quebec-based exploration and development company focused on becoming a ferroniobium producer. It holds niobium properties at Oka and near Mont-Laurier, as well as another exploration property in the province of Quebec, targeting critical metals within the Canadian resource sector.
Average Trading Volume: 171,748
Technical Sentiment Signal: Buy
Current Market Cap: C$20.3M
For detailed information about NIO stock, go to TipRanks’ Stock Analysis page.