NIO-METALS CONVERTS OUTSTANDING DEBT INTO SHARES OF NIO STRATEGIC METALS

This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

NEW YORK, April 16, 2025 /CNW/ - Pursuant to the terms of a debt conversion agreement, dated April 15, 2025, Nio-Metals Holdings LLC ("Nio-Metals") converted the remaining $450,000 of principal owing under the terms of an unsecured debenture initially issued by Nio Strategic Metals Inc. (formerly Niocan Inc.) ("Nio Strategic") to Nio-Metals into an aggregate of 10,000,000 common shares of Nio Strategic (the "Shares") at an issue price of $0.045 per share in full repayment thereof (the "Debt Conversion").

As at the date of the filing of Nio-Metals' last Form 62-103F1 relating to its securityholdings of Nio Strategic, being March 1, 2022, Nio-Metals and its "joint actors" (as such term is defined in National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues) owned 36,658,211 Shares, representing approximately 48.4% of the issued and outstanding Shares, and $500,000 principal amount of unsecured debentures of Nio Strategic. Following the Debt Conversion, Nio-Metals and its "joint actors" hold 46,658,211 Shares representing approximately 46.0% of the issued and outstanding Shares.

The securities referred to above were acquired for investment purposes. Nio-Metals and/or one or more of its affiliates may, depending on market and other conditions, increase or decrease its beneficial ownership of Common Shares or other securities of Nio Strategic whether in the open market, by privately negotiated agreement or otherwise.

Nio Strategic is located at 1, Place Ville-Marie Suite 1670 Montréal, Québec H3B 2B6. Nio-Metals is located at 600 Fifth Avenue, 24th Floor, New York, NY 10020, USA. A copy of the early warning report to which this news release relates can be obtained from Michael Williams (646-365-1600) or on the SEDAR+ profile of the issuer at www.sedar.com. 

SOURCE Nio-Metals Holdings LLC