Business News • MarketWire • Nio-Metals Holdings Acquires a Unit of Niocan Inc. |
Nio-Metals Holdings Acquires a Unit of Niocan Inc. |
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Nio-Metals Holdings Acquires a Unit of Niocan Inc.
NEW YORK, NEW YORK--(Marketwire - Feb. 22, 2013) - Nio-Metals Holdings LLC (the "Offeror") announces that, pursuant to a private placement of Niocan Inc. (the "issuer") which closed on February 19, 2013 (the "Closing"), the Offeror subscribed for one unit of the issuer (the "Unit") at a subscription price of $1,200,000 and acquired ownership of: (i) $1,200,000 aggregate principal amount of secured subordinated debentures of the issuer (the "Debentures"); and (ii) 1,000,000 warrants (the "Warrants") to purchase common shares of the issuer (each, a "Common Share"). The Debentures will bear interest at a rate of 10% per annum and will mature 30 months from the date of their issuance, subject to the ability of the issuer to repay them at any time without penalty. Each Warrant will entitle its holder to purchase one Common Share at a price of $0.50 at any time until the two year anniversary of the date of its issuance. The 1,000,000 Common Shares that could be acquired by the Offeror upon exercise of such Warrants would represent approximately 4.8% of the currently issued and outstanding Common Shares.
View More : http://www.marketwire.com/mw/release.do?id=1760433&sourceType=3
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