(Montreal, Quebec / TheNewswire / March 21, 2024) – Nio Strategic Metals Inc. (TSX-V: NIO) (OTC:NIOCF) (“Nio” or the “Company”) reports that government initiatives for development of critical and green metals continue to reinforce the value of the Company’s niobium resource at the Oka Project in central Quebec.

 

“Canadian and U.S. governments are really pushing new strategies and funding initiatives to address the problem of critical mineral supplies,” said Nio President and CEO Hubert Marleau. “North America and Europe are just too dependent on foreign sources for the critical metals required for essential needs in areas such as clean energy and defense.”

 

In December 2022, the Canadian government released its report entitled The Canadian Critical Minerals Strategy – From Exploration to Recycling: Powering the Green and Digital Economy for Canada and the World which recognizes that critical minerals represent a generational opportunity for Canada’s workers, economy and net-zero future. Such minerals are the foundation on which our modern economy is built and that list includes niobium.

 

“Our priority remains to increase our presence in the critical metals ecosystem,” added Mr. Marleau. “It’s clear that North America is going to need a lot more niobium.  We remain fairly busy as we conduct various activities concurrently including negotiations with stakeholders. Furthermore, we are constantly seeking propositions from third parties involved in the exploration and development of critical materials or minerals classified as strategic by governments.”

 

Nio engaged geo surveys expenses during 2023 to determine the Residual Total Magnetic Intensity at the Oka property. A regional magnetic gridded dataset was obtained from the data grid. The strong magnetic anomalies depicting concentric elliptic rings, were interpreted to pertain to the Oka carbonatite intrusion by Prospectair Geosurveys who conducted the study.

 

“Governments are just starting to understand the importance of niobium,” said Marleau. “It has flown largely under the radar, even though it’s essential for airplanes, bridges and buildings and electric vehicles batteries that could revolutionize new and green technologies.”

 

Common share purchase warrants

Last October 2023, 4,142,434 outstanding warrants to purchase common shares at a price of $0.12 per share (each a “warrant”) were exercised. The Company has received consideration of CA$497,080 in respect of those warrants exercised.

  

The warrants were issued in connection with the Corporation's private placement of units completed in October 2021 and were set to expire on October 15, 2023.The exercise price of the warrants was C$0.12.

 

Management and directors of the Company have exercised 400,000 warrants they detained.

 

Hubert Marleau, President and Chief Executive Officer, commented, " this infusion of equity indicates that investors are confident in the long-term value of Nio, and shows their ongoing support in our planned corporate activities into critical and strategic metals, including the Niobium-mining project in Oka."

 

Option Grant

In September 2023, the Company Board of Directors has granted 200,000 stock options in accordance with its stock option plan to a newly appointed director. Options are exercisable at CA$0.15 for a period of five years. The exercise price was fixed above the minimum allowable price by the TSX Venture Exchange policies. The options, granted in accordance with the provisions of the Company's stock option plan, are subject to the TSX Venture Exchange policies and the applicable securities laws.

  

About Nio Strategic Metals

Nio Strategic Metals is an exploration and development company, with a focus on becoming a ferroniobium producer. The Company holds a niobium property in Oka, Québec and other exploration properties in the Province of Québec.

 

For more information on the Company, please refer to the Company’s public documents available on SEDAR (www.sedarplus.ca) or on the Company’s website (https://niostratmet.com/).

 

For more information, please contact:

 

Hubert Marleau

Chairman, President and Chief Executive Officer

nio.investorinformation@gmail.com

514-560-7623

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

 

Cautionary Statement on Forward-Looking Information

 

This news release contains forward-looking statements and forward-looking information (together, “forward looking statements”) within the meaning of applicable Canadian securities laws. Statements, other than statements of historical facts, may be forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”, the negative of these terms and similar terminology although not all forward-looking statement contains these terms and phrases. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk factors set out in Nio Stategic Metals’s annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR at www.sedar.com, as well as all assumptions regarding the foregoing. Although Nio Strategic Metals believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frame or at all. Except where required by applicable law, Nio Strategic Metals disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.