Niocan Inc. announced that it has entered into an agreement with Nio-Metals Holdings LLC (Nio-Metals) for an unsecured bridge loan facility of $500,000. The purpose of the Loan is to allow Niocan to renew claims at its Great Whale iron property and to continue to work towards a significantly larger financing. Niocan is continuing discussions with interested parties regarding potential financings to raise sufficient funds to obtain the required permits and authorization to develop its Oka property. Niocan's management is also pursuing financing activities to continue exploration activities with respect to the Great Whale iron property. The Loan has a 24-month term to maturity, bears interest of 6% per annum payable quarterly, and is not convertible. The Loan may be repaid at any time prior to maturity without penalty. The Loan Agreement was approved by all of the independent members of the board of directors of Niocan, with the nominee of Nio-Metals having recused himself from the decision.