NioBay Welcomes New Board Member and Closes Private Placement
NioBay Welcomes New Board Member
NioBay Metals Inc. (TSX-V: NBY) is thrilled to announce the recent appointment of Ms. Josianne Beaudry to its Board of Directors. Ms. Beaudry, a recognized partner at Lavery, de Billy, L.L.P., specializes in areas such as securities law, investment funds, and mining law. With a strong track record, she assists clients with both public and private financings and has a robust portfolio in mergers and acquisitions.
Ms. Beaudry's Extensive Experience
Having been a member of the Barreau du Québec since 2000, Ms. Beaudry is well-regarded in her field. She contributes to several key organizations, including her role as a director of the Association de l’exploration minière du Québec. Ms. Beaudry is also on the Corporate Finance Advisory Committee of the Autorité des marchés financiers, as well as the Québec Local Advisory Committee of the TSX Venture Exchange, bringing a wealth of knowledge and experience to NioBay.
Stock Options Granted
NioBay has approved the issuance of 150,000 incentive stock options to Ms. Beaudry. This grant is structured with one-third vesting immediately, while the remaining options will vest over a two-year period. The options come with a seven-year term at an exercise price of $0.065. These options adhere to the Company’s Stock Option Plan and relevant securities laws.
Recent Successful Private Placement
In an exciting development, NioBay has finalized the second tranche of its private placement, raising approximately $50,000 from the sale of 588,230 Quebec-eligible flow-through units. Each unit is priced at $0.085, enhancing the Company's financial positioning.
Details of the Offering
Each Québec flow-through unit comprises one common share as a flow-through share under Canadian tax regulations, along with half a common share purchase warrant. The holders of these warrants can purchase one Common Share for $0.13 within a 24-month period.
Planned Use of Proceeds
The proceeds from this offering are crucial for advancing NioBay's exploration initiatives focusing on critical minerals. Overall, the Company has successfully issued 4,129,406 Quebec FT Units, totaling $351,000 from the Offering. The final approval is pending from the TSX Venture Exchange for this endeavor.
About NioBay Metals Inc.
NioBay is on a mission to lead in developing resources that prioritize sustainability and responsible resource management. The Company's commitment to environmental stewardship and social inclusion is paramount, especially in engaging Indigenous communities in their operational territories.
Current Projects
NioBay proudly holds a 100% interest in the James Bay Niobium Project, positioned in the Moose Cree Traditional Territory. Moreover, the Company also owns a 72.5% interest in the Crevier Niobium and Tantalum project located in Québec. They are considering acquiring an 80% stake in the Foothills project, focusing on titanium and phosphate.
Understanding Niobium and Titanium
Niobium is essential in enhancing the properties of various metals used in diverse applications in mobility, structural, and energy sectors. Its addition to materials like steel improves efficiency and reduces environmental impacts. Similarly, titanium, with its remarkable density-to-strength ratio, finds applications in aerospace and sports equipment, showcasing its versatility and importance in modern technology.
Frequently Asked Questions
Who is the new board member of NioBay?
The new board member is Ms. Josianne Beaudry, a partner at Lavery, de Billy, L.L.P.
What stock options were granted to the new board member?
NioBay granted 150,000 incentive stock options to Ms. Beaudry, with a vesting schedule and an exercise price of $0.065.
How much did NioBay raise in the recent private placement?
NioBay raised approximately $50,000 from the sale of 588,230 flow-through units.
What will the proceeds from the private placement be used for?
The proceeds will be utilized for the exploration of critical minerals in Québec.
What interests does NioBay hold in its mining projects?
NioBay has a 100% interest in the James Bay Niobium Project and a 72.5% interest in the Crevier Niobium and Tantalum project.
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