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MONTREAL, June 23, 2022 (GLOBE NEWSWIRE) -- NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) (OTCQB: NBYCF) a Company focused on the exploration, development and use of critical “green” metals with a priority on the Environment, Social, Governance and Indigenous participation (ESGI) is pleased to announce the results of its annual general meeting (“AGM”) of shareholders held on June 22, 2022.
Shareholders holding a total of 26,693,236 common shares of the Company attended the AGM in person or were represented by proxy, representing over 37% of the 70,301,524 common shares issued and outstanding.
Jean-Sébastien David, Dawn Madahbee Leach, Raymond Legault, Mathieu Savard and Serge Savard were re-elected to the board of directors. The shareholders also re-appointed PricewaterhouseCoopers, LLP as auditors for the ensuing financial year and re-approved the Company’s rolling stock option plan.
Following the AGM, the Company approved the grant of an aggregate of 1,350,000 incentive stock options to directors, officers, employees and consultants of the Company. One third of the stock options granted will vest immediately and the remaining stock options granted are subject to a two year vesting period. All grants have a seven-year term at an exercise price of $0.14. The stock options have been granted pursuant to the Company’s Stock Option Plan and are subject to applicable securities laws and TSX Venture Exchange policies.
About NioBay Metals Inc.
NioBay will be a leader in the Environment, Social, Governance and Indigenous inclusion supporting the development of smart mine(s) with low carbon consumption and responsible water and wildlife management practices. Critical to our success will be the consent and full participation of the Indigenous communities in whose territories we operate.
The Company holds, in addition to others, a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the Moose Cree Traditional Territory of the James Bay Lowlands in Ontario. NioBay also holds a 72.5% interest in the Crevier Niobium and Tantalum project located in Quebec and on the Nitassinan territory of the Pekuakamiulnuatsh First Nation.
Niobium is a naturally occurring element. It is a readily available, reliable, soft metal that is ductile, malleable and highly resistant to corrosion. Because it enhances properties and functionalities, niobium is used in a wide range of materials and applications in the Mobility, Structural and Energy sectors. Niobium transforms materials. When added to materials like steel, glass and aluminum castings, niobium makes them smarter and lower environmental impacts, while also delivering other benefits like better performance, improved safety and increased value.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
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NioBay Metals Inc.