NioBay Metals Announces Closing of Brokered Life Offering and Concurrent Private Placement for Gross Proceeds of C$8.9 Million

Core Viewpoint - NioBay Metals Inc. has successfully closed a private placement, raising gross proceeds of C$8,497,990.20 to fund its James Bay Niobium Project and for general corporate purposes [1][3]. Group 1: Offering Details - The Brokered Offering included the sale of 12,277,430 units at C$0.14 per unit, 28,306,250 flow-through units at C$0.16 per unit, and 10,715,000 charity flow-through units at C$0.21 per unit [1]. - A concurrent non-brokered private placement raised an additional C$367,400 from the sale of 2,296,250 flow-through units at C$0.16 per unit [1]. Group 2: Use of Proceeds - Gross proceeds from the flow-through units and charity flow-through units will be allocated to eligible Canadian exploration expenses related to the James Bay Niobium Project, with a focus on critical mineral mining expenditures [4]. - The net proceeds from the unit placement will be used for working capital and general corporate purposes [3]. Group 3: Securities and Regulations - The units and charity flow-through units were sold under the listed issuer financing exemption, making them immediately freely tradable for Canadian purchasers [5]. - The flow-through units were sold under accredited investor and minimum amount investment exemptions, with a hold period for certain securities ending on April 19, 2026 [6]. Group 4: Insider Participation - Certain insiders purchased a total of 8,671,429 units for gross proceeds of C$1,214,000 and 162,500 flow-through units for C$26,000, which are subject to a hold period [9]. Group 5: Company Overview - NioBay aims to lead in low carbon consumption mining practices while ensuring the participation of Indigenous communities in its operations [11]. - The company holds a 100% interest in the James Bay Niobium Project and a 72.5% interest in the Crevier Niobium and Tantalum project [11].