Nio Strategic Metals Extends Loan Maturity

Niocan Inc (TSE:NIO) has released an update.

Nio Strategic Metals Inc. has extended the maturity date of its $500,000 loan agreement with Nio-Metals Holdings LLC to April 30, 2025, after repaying $50,000 and reducing the remaining loan to $450,000. The terms remain unchanged except for the maturity date and principal amount, and the transaction is a related party transaction since Nio-Metals owns 45.9% of the company’s shares. This move is part of Nio’s efforts as it continues to focus on becoming a ferroniobium producer with properties in Quebec.

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