The Prospector News

NioBay Announces Closing of a Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

NioBay Announces Closing of a Private Placement

 

 

 

 

 

NioBay Metals Inc. (TSX-V: NBY) (OTCQB: NBYCF) is pleased to announce the closing of a private placement. Under the Offering, the Company raised proceeds of $981,550 from the sale of 14,022,142 Quebec-eligible flow-through units of the Company at a price of $0.07 per Quebec FT Unit.

 

Each Québec FT Unit consists of one common share of the Company issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) and the Taxation Act (Québec) and one half of one common share purchase warrant. Each whole Warrant entitles the holder to purchase one Common Share at a price of $0.12 at any time on or before July 27, 2026.

 

The Company paid $65,033 in cash and issued 929,049 warrants to a finder in connection with the closing of the Offering. Each Finder’s Warrant will entitle the holder to purchase one common share at a price of $0.07 for a period of 24 months following closing date.

 

Jean-Sébastien David, President & CEO commented: “Thank you to all the new shareholders. These funds will be used for the upcoming drilling program on our very promising Foothills Project. The program will be executed on private land owned by Séminaire de Québec.

 

All securities issued pursuant to the Offering are subject to a hold period under applicable securities laws, which will expire on November 27, 2024.

 

The Offering remains subject to the final approval of the TSX Venture Exchange.

 

The securities described herein have not been, and will not be, registered under the United States Securities Act, or any state securities laws, and accordingly may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

 

About NioBay Metals Inc.

 

NioBay aims to become a leader in the development of mine(s) with low carbon consumption and responsible water and wildlife management practices while prioritizing the environment, social responsibility, good governance, and the inclusion of all stakeholders. Our top priority, which is critical to our success, is the consent and full participation of the Indigenous communities in whose territories and/or on ancestral lands we operate.

 

In addition to others properties, NioBay holds a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the Moose Cree Traditional Territory of the James Bay Lowlands in Ontario. NioBay also holds a 72.5% interest in the Crevier Niobium and Tantalum project located in Québec and on the Nitassinan territory of the Pekuakamiulnuatsh First Nation. The Company has also the option to acquire a 80% interest in the Foothills project, a titanium-phosphate project located near the former St-Urbain mine site in Quebec.

 

About Niobium

 

Niobium is a naturally occurring element. It is a metal that is ductile, malleable and highly resistant to corrosion. Because it enhances properties and functionalities, niobium is used in a wide range of materials and applications in the Mobility, Structural and Energy sectors. Niobium transforms materials. When added to materials like steel, glass and aluminum castings, niobium makes them more efficient and lowers environmental impacts, while also delivering other benefits such as better performance, improved safety and increased value.

 

Posted July 30, 2024

Share this news article

MORE or "UNCATEGORIZED"


FIRST NATION DRILL COMPANY MOBILIZES TO CASE LAKE FOR PHASE III DRILLING

Major Highlights First Nation company, Black Diamond Drilling, mo... READ MORE

November 13, 2024

NioCorp Announces Closing of Private Placement for Gross Proceeds of Approximately $3.5 Million

Subscribers in the Private Placement Include Certain NioCorp Offi... READ MORE

November 13, 2024

NEVADA KING ANNOUNCES CLOSING OF BROKERED PORTION OF PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $6.1 MILLION

Nevada King Gold Corp. (TSX-V: NKG) is pleased to announce the cl... READ MORE

November 13, 2024

Hudbay Delivers Strong Third Quarter 2024 Results with Record Gold Production in Manitoba; 2024 Production Guidance Reaffirmed and Cost Guidance Further Improved

Hudbay Minerals Inc. (TSX:HBM) (NYSE: HBM) today released its thi... READ MORE

November 13, 2024

Newcore Gold Drilling Intersects 204 g/t Gold over 1.0 Metre and 3.36 g/t Gold over 28.0 Metres at the Enchi Gold Project, Ghana

Highest-Grade Gold Interval to Date Intersected at Enchi; Drillin... READ MORE

November 13, 2024

Copyright 2024 The Prospector News