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Nio Strategic Metals (TSXV: NIO) (OTC Pink: NIOCF) has secured financial assistance of up to $400,000 from the Elements08 Strategic Metals Excellence Centre for its Oka niobium project. The funding will support innovation in metallurgic and mining waste water processes to enable niobium production.
The initiative involves collaboration between Nio and the Centre technologique des résidus industriels (CTRI), with support from Impact Global Solutions Inc. (IGS). The expertise will be utilized to develop optimal metallurgic treatment processes and reduce environmental impact from mining waste water.
The program is part of Quebec's strategy to develop critical and strategic minerals (CSM) while ensuring responsible and sustainable mining practices.
Nio Strategic Metals (TSXV: NIO) (OTC Pink: NIOCF) has completed a private placement of 5,483,333 flow-through common shares for gross proceeds of approximately $329,000. The company issued 187,500 finder's warrants and paid $15,000 in commissions. Each warrant allows holders to acquire one additional common share at $0.08 per share within 24 months.
The proceeds will be used exclusively for Canadian Exploration Expenditures on the Oka and Fafnir properties in Quebec, focusing on niobium and other critical metals exploration. The flow-through shares will be subject to a four-month hold period, and the proceeds will be renounced to subscribers by December 31, 2025.
Nio Strategic Metals has expanded its Fafnir Project by acquiring an additional 1,274 hectares through staking, comprising 22 claims. The expanded project now covers approximately 6,230 hectares and is located 60 km northwest of Mont Laurier and 165 km north of Gatineau. The new claim block, situated 10km northeast of the original Fafnir Project, shares 10km of contiguity with Rush Rare Earth's Boxy project, which reported notable Niobium assays up to 26.9%. The area shows promising Niobium enrichment, demonstrated by 15 lake bottom samples within a 30 km radius.
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