MONTREAL, Feb. 16, 2021 (Globe NEWSWIRE) — Niobay Metals Inc. (“NioBay” or the “Enterprise”) (TSX-V: NBY) is happy to announce that the Firm has submitted an software to be mentioned on the OTCQB Finest Market, a U.S. current market operated by OTC Markets Group Inc. (“OTC”) in New York, less than the symbol “NBYCF’’. NioBay will continue on to trade on the TSX Undertaking Trade underneath its image “NBY”. In addition, NioBay is currently DTC qualified by The Depository Trust Enterprise (“DTC”) for electronic settlement and transfer of its popular shares in the United States.
The OTC operates the world’s major digital interdealer quotation system for US broker dealers and offers several media channels to enhance the visibility of OTC-shown providers. Trading on the OTCQB Current market allows corporations to efficiently create broader investor awareness and offer U.S. investors with a seamless trading facility to more simply trade by means of the broker of their selection.
“Listing NioBay on the OTCQB will be an critical step to supply less complicated obtain and investing functionality in our Company’s shares for both equally institutional and retail buyers,” stated Claude Dufresne, President and CEO of NioBay. “This will lead to one of our core methods to enrich liquidity and creating on the substantial progress we have manufactured in excess of the earlier yrs.”
The listing on the OTCQB stays matter to the acceptance of the OTCQB and the fulfillment of relevant listing demands. NioBay shares are anticipated to start out investing on the OTCQB in just the upcoming thirty day period. As additional info gets readily available, the Organization will maintain its shareholders up-to-date on the standing of the application.
Update on the Exploration Plan
Restrictions thanks to the COVID pandemic, challenging weather disorders, and contractor challenges have contributed to delays in the building of the 60 km winter season path to the exploration web site, which is still not completely completed. In addition, through the development of the winter trail, NioBay’s contractors accessed, in spite of the Company’s instruction not to, an unauthorized corridor of a parallel wintertime highway (Wetum) to the exploration path which has brought on problems with Moose Cree Initial Nation (“MCFN”). As a outcome of the higher than situations, the Corporation, in collaboration with the MCFN leadership, has elected to defer the winter season exploration drill marketing campaign and committed to supporting an improved group engagement procedure.
NioBay had beforehand released on February 1, 2021, that it experienced acquired an exploration permit valid for 3 years and experienced renewed the Security Agreement with MCFN for the wintertime drill marketing campaign.
“Moose Cree citizens had been worried by some of the routines linked with NioBay’s exploration functions, especially with regard to the unauthorized use of the Wetum Rd corridor. My Council read our community’s worries and elevated them with NioBay specifically. I recognize NioBay’s acknowledgement of our community’s problems, and their willingness to pause their exploration method and to devote the time to make sure our relationship gets back again on observe ahead of even more exploration routines occur” reported MCFN Main Merv Cheechoo.
“Although the deferral of the exploration plan is not best, we check out our romance with Moose Cree First Country as a precedence. We will now aim on partaking with the Moose Cree to established the conditions and circumstances of the rescheduled drill software. We share with the local community the great importance of guarding the setting and will go on to do the job together with Moose Cree” mentioned Claude Dufresne.
James Bay Niobium Preliminary Financial Evaluation (‘’PEA’’)
The Business released on Oct 13, 2020, a PEA on its 100% James Bay Niobium challenge. The PEA review 3 mining scenarios with all situations demonstrated very sturdy financial (NPV8% varying from $733M to $1,008M, IRR of 22% to 28%). The mine existence of all situations varies between 23 to 30 several years and will build about 400 highly paid out positions and in general expenditures will exceed $3.5 billion to suppliers, salaried staff, contractors. In addition provincial, federal and mining taxes compensated about the lifestyle of mine will exceed $1 billion. The Enterprise is fully commited to acquiring MCFN as a companion in the growth and operation of the mine.
Skilled Man or woman
This push launch was verified and authorized by Claude Dufresne, P.Eng. and Qualified Human being as described by National Instrument 43-101. Mr Dufresne is the President and CEO of NioBay.
About NioBay Metals Inc.
NioBay Metals Inc. is a mining exploration firm keeping a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the James Bay Lowlands in Ontario. NioBay also retains a 72.5% desire in the Crevier niobium and tantalum challenge found in Quebec and a 47% immediate participation in mineral titles located in the Chibougamau location, Quebec, underneath a joint venture arrangement with SOQUEM.
Sure statements contained in this press launch constitute ahead-wanting facts underneath the provisions of Canadian securities legal guidelines including statements about the Company’s designs. These types of statements are essentially dependent upon a quantity of beliefs, assumptions, and thoughts of management on the day the statements are designed and are issue to numerous risks and uncertainties that could trigger actual success and foreseeable future situations to differ materially from those predicted or projected. The Company’s software for listing on the OTCQB may perhaps not be authorised. The Business undertakes no obligation to update these ahead-hunting statements in the function that management’s beliefs, estimates or opinions, or other components should adjust, apart from as essential by regulation.
Neither the TSX Undertaking Trade nor its Regulation Services Provider (as that time period is outlined in the guidelines of the TSX Undertaking Trade) accept responsibility for the adequacy or accuracy of this release.
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