{"id":2304,"date":"2024-04-26T08:36:00","date_gmt":"2024-04-26T12:36:00","guid":{"rendered":"https:\/\/niometauxstrategiques.com\/staging\/?p=2304"},"modified":"2026-06-10T18:27:09","modified_gmt":"2026-06-10T22:27:09","slug":"nio-strategic-metals-announces-the-extension-of-its-500000-loan-agreement","status":"publish","type":"post","link":"https:\/\/niostratmet.com\/staging\/nio-strategic-metals-announces-the-extension-of-its-500000-loan-agreement\/","title":{"rendered":"NIO STRATEGIC METALS ANNOUNCES THE EXTENSION OF ITS $500,000 LOAN AGREEMENT"},"content":{"rendered":"\n

(Montreal, Quebec, April 26, 2024) <\/strong>\u2013 Nio Strategic Metals Inc. (TSX-V: NIO) (OTC:NIOCF) (\u201cNio<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) announces that it has amended its $500,000 unsecured loan agreement with Nio-Metals Holdings LLC (\u201cNio-Metals\u201d) dated March 17, 2021 (the \u201cAmended Loan Agreement\u201d) to extend the maturity date to April 30, 2025, subject to no other condition. Following the cash reimbursement of $50,000, the Amended Loan Agreement has been reduced to $450,000. Except for the maturity date and the principal amount, the other material terms and conditions of the Amended Loan Agreement have remained the same.<\/p>\n\n\n\n

Related Party Disclosure<\/em><\/p>\n\n\n\n

Pursuant to Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions<\/em> (“MI 61-101”), the Amended Loan Agreement constitutes a “related party transaction” as Nio-Metals (the \u201cRelated Party\u201d) currently holds 45.9% of the issued and outstanding common shares of the Company.<\/p>\n\n\n\n

The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(f) of MI 61-101 on the basis that the transactions did not exceed 25% of the fair market value of the Company\u2019s market capitalization and the Loans are on reasonable commercial terms that are not less advantageous to the Company than if the Loans were obtained from a person dealing at arm\u2019s length with the Company.<\/p>\n\n\n\n

Moreover, the Related Party, to the extent that it holds Nio common shares and that its Amended Loan Agreement is not convertible, will experience the same effects as other Nio shareholders as a result of the Amended Loan Agreement.<\/p>\n\n\n\n

The Company did not file a material change report more than 21 days before entering into the Amended Loan Agreement as the terms of the Amended Loan Agreement were not settled until shortly prior to execution and the Company and the parties wished to close the Amended Loan Agreement on an expedited basis for sound business reasons.<\/p>\n\n\n\n

About Nio Strategic Metals<\/strong><\/p>\n\n\n\n

Nio Strategic Metals is an exploration and development company, with a focus on becoming a ferroniobium producer. The Company holds a niobium property in Oka, Qu\u00e9bec and other exploration properties in the Province of Qu\u00e9bec.<\/p>\n\n\n\n

For more information on the Company, please refer to the Company\u2019s public documents available on SEDAR (www.sedarplus.ca<\/a>) or on the Company\u2019s website (https:\/\/niostratmet.com\/).<\/p>\n\n\n\n

For more information, please contact:<\/p>\n\n\n\n

Hubert Marleau<\/p>\n\n\n\n

Chairman, President and Chief Executive Officer<\/p>\n\n\n\n

nio.investorinformation@gmail.com<\/p>\n\n\n\n

514-560-7623<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Cautionary Statement on Forward-Looking Information<\/strong><\/p>\n\n\n\n

This news release contains forward-looking statements and forward-looking information (together, \u201cforward looking statements\u201d) 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 \u201cplans\u201d, \u201cexpects\u201d, \u201cestimates\u201d, \u201cintends\u201d, \u201canticipates\u201d, \u201cbelieves\u201d or variations of such words, or statements that certain actions, events or results \u201cmay\u201d, \u201ccould\u201d, \u201cwould\u201d, \u201cmight\u201d, \u201cwill be taken\u201d, \u201coccur\u201d or \u201cbe achieved\u201d, the negative of these terms and similar terminology although not all forward-looking statement contains these terms and phrases. 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 Nio Strategic Metals\u2019 annual and\/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR at <\/em>www.sedar.com, <\/em><\/a>as well as all assumptions regarding the foregoing. Although Nio Strategic Metals 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, Nio Strategic Metals disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

(Montreal, Quebec, April 26, 2024) \u2013 Nio Strategic Metals Inc. (TSX-V: NIO) (OTC:NIOCF) (\u201cNio\u201d or the \u201cCompany\u201d) announces that it has amended its $500,000 unsecured loan agreement with Nio-Metals Holdings LLC (\u201cNio-Metals\u201d) dated March 17, 2021 (the \u201cAmended Loan Agreement\u201d) to extend the maturity date to April 30, 2025, subject to no other condition. Following […]<\/p>\n","protected":false},"author":7,"featured_media":1960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[32],"tags":[],"class_list":["post-2304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-2"],"_links":{"self":[{"href":"https:\/\/niostratmet.com\/staging\/wp-json\/wp\/v2\/posts\/2304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/niostratmet.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/niostratmet.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/niostratmet.com\/staging\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/niostratmet.com\/staging\/wp-json\/wp\/v2\/comments?post=2304"}],"version-history":[{"count":1,"href":"https:\/\/niostratmet.com\/staging\/wp-json\/wp\/v2\/posts\/2304\/revisions"}],"predecessor-version":[{"id":3053,"href":"https:\/\/niostratmet.com\/staging\/wp-json\/wp\/v2\/posts\/2304\/revisions\/3053"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/niostratmet.com\/staging\/wp-json\/wp\/v2\/media\/1960"}],"wp:attachment":[{"href":"https:\/\/niostratmet.com\/staging\/wp-json\/wp\/v2\/media?parent=2304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/niostratmet.com\/staging\/wp-json\/wp\/v2\/categories?post=2304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/niostratmet.com\/staging\/wp-json\/wp\/v2\/tags?post=2304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}