Niocan Inc. announced a best efforts private placement of a minimum of 12,500,000 units and a maximum of 21,500,000 units at a price of CAD 0.10 per unit for minimum gross proceeds of CAD 1,250,000 and maximum gross proceeds of CAD 2,150,000 on August 27, 2021. Each unit will consist of one common share and one-half of one common share purchase warrant of the company. Each warrant will be exercisable to acquire one common share of the company at an exercise price of CAD 0.12 per share for a period of 24 months from the date of issuance. The company has granted the agent an option, exercisable at any time prior to the closing date, to sell up to an additional 4,300,000 units. If the agent?s option is exercised in full, the aggregate gross proceeds of the transaction would be CAD 2,580,000. All securities to be issued in the transaction will be subject to a hold period of four months plus one day from the date of issuance. The transaction is expected to close on or about September 13, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals.