Montreal, Québec – TheNewswire - September 20, 2021 – Niocan Inc. (TSXV:NIO) (OTC:NIOCF)  (“Niocan” or the “Company”) is pleased to announce that, due to market demand, it has increased the maximum amount of its previously announced best efforts private placement of units (“Units”), at a price of C$0.10 per Unit (the “Offering Price”), from 21,500,000 Units for maximum gross proceeds of C$2.15 million to 24,000,000 Units for maximum gross proceeds of C$2.4 million. The minimum offering size remains at 12,500,000 Units for minimum gross proceeds of C$1.25 million. Niocan has also granted to the agent under the offering, Palos Wealth Management, an option to sell up to an additional 4,800,000 Units at the Offering Price (the “Agent’s Option”). If the Agent’s Option is exercised in full, the maximum gross proceeds of the private placement would be C$2.88 million.

Each Unit consist of one common share of the Company (each a “Common Share”) and one-half of one Common Share purchase warrant (each full warrant, a “Warrant”). Each Warrant will be exercisable to acquire one Common Share for a period of 24 months following the date of its issuance at an exercise price of C$0.12.

The Company anticipates the closing date to occur during the week of September 27, 2021.

About Niocan

Niocan 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. Niocan’s Oka mining property consists of mining rights comprised of 49 claims covering 2,281 acres and its Great Whale property consists of surface and mining rights covering 24,944 acres on the Hudson Bay territory.

For more information on the Company, please refer to the Company’s public documents available on SEDAR (www.sedar.com).  

For more information, please contact:

Hubert Marleau

Chairman, President and Chief Executive Officer

niocan.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. Without limiting the generality of the foregoing statements, the Company meeting all conditions for a timely closing of the Offering, including obtaining all required subscriptions, are forward looking statements. 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 Niocan’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 Niocan 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, Niocan disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES