NEW YORK, NEW YORK — (Marketwire) — 03/05/13 — Nio-Metals Holdings LLC (the “Offeror”) announces the completion of the previously announced exercise by Niocan Inc. (the “Issuer”) of a conversion right to require the conversion of $1,750,000 principal amount of debentures plus accrued and unpaid interest issued by the Issuer and held by the Offeror (the “Debenture”). Upon completion of the conversion of the Debenture the Offeror received 1,267,241 common shares in the capital of the Issuer. The details of this transaction was more particularly described in the Offeror-s press release dated August 30, 2011.
The Common Shares will be held by the Offeror for investment purposes and the Offeror and/or one or more of its affiliates may, depending on market and other conditions, increase or decrease its beneficial ownership of Common Shares or other securities of the issuer whether in the open market, by privately negotiated agreement or otherwise.
The Common Shares were issued to the Offeror by the issuer in accordance with the terms and conditions of the Debenture.
The Offeror is located at 535 Madison Avenue, 11th Floor, New York, NY, USA 10022. A copy of the early warning report relating to the Closing can be obtained from Michael Williams (646-365-1600) or on the SEDAR profile of the issuer at .
Contacts:
Michael Williams
646-365-1600