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No other accessory agreement was entered into with Nio-Metals or other associated entities of Nio-Metals in connection with the Amended Secured Debenture.
The Amended Secured Debenture was approved by all the members of the Board of directors, except for the nominee of Nio-Metals given its interest in the matter, as the members considered it in the best interest of the Company.
Related Party Disclosure
Pursuant to Multilateral Instrument 61-101 --Protection of Minority Security Holders in Special Transactions("MI 61-101"), the Amended Secured Debenture constitutes a "related party transaction" as Nio-Metals (the "
The Company is exempt from the formal valuation requirement of MI 61-101 in connection with this amendment in reliance on section 5.5(b) of MI 61-101, as no securities of the Company are listed or quoted for trading on thethe
"Additionally, the Company is exempt from obtaining minority approval in connection with the Amended Secured Debenture in reliance on section 5.7(f) of MI 61-101, as the transaction is a loan on reasonable commercial terms that are not less advantageous to the Company than if the loan was obtained from a person dealing at arm's length with the Company, and the loan is not (A) convertible, directly or indirectly, into equity or voting securities of the issuer or a subsidiary entity of the Company, or otherwise participating in nature, or (B) repayable as to principal or interest, directly or indirectly, in equity or voting securities of the Company or a subsidiary entity of the Company.
Moreover, the
For more information on the Company, please refer to the Company's public documents available on SEDAR(www.sedar.com).
For more information, please contact:
Chairman, President and Chief Executive Officer
niocan.investorinformation@gmail.com
(514) 560-7623
FORWARD LOOKING STATEMENTS
Certain statements contained in this press release are forward-looking and are subject to numerous risks and uncertainties, known and unknown. For information identifying known risks and uncertainties, relating to the issuance by the
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