NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR FOR
DISSEMINATION IN THE UNITED
STATES
CENTENNIAL, Colo., June 30,
2022 /PRNewswire/ -- NioCorp Developments Ltd.
("NioCorp" or the "Company") (TSX:
NB) (OTCQX: NIOBF) is pleased to announce that it has closed
its previously announced non-brokered private placement (the
"Private Placement") of units (the "Units") of the
Company. A total up-sized offering of 4,981,035 Units were issued
at a price per Unit of C$0.96, for
total gross proceeds to the Company of approximately C$4.8 million.
Pricing of the Units was set at a premium to the five-day Volume
Weighted Average Price ("VWAP") of NioCorp common shares
just prior to the launch of the offering on June 13, 2022. The initial offering
announcement on June 13, 2022, was
for up to 4,519,481 Units, for gross proceeds of up to
approximately C$4.35 million.
Each Unit consists of one common share of NioCorp (each, a
"Common Share") and one common share purchase warrant (each
whole warrant, a "Warrant"). Each Warrant entitles the
holder to acquire one Common Share at a price of C$1.10 at any time prior to July 1, 2024.
Proceeds of the private placement will be used for continued
advancement of the Company's Elk Creek Critical Minerals Project
and for working capital and general corporate purposes.
The Company paid cash commissions of C$62,496 and 65,100 finder warrants to finders
outside of the United States. The cash commission and finder
warrants were each equivalent to three (3) percent of the Units
raised by each finder. Each finder warrant entitles the holder
thereof to purchase one Common Share at a price of C$1.10 at any time prior to July 1, 2024.
All of the securities sold pursuant to the offering are subject
to a four-month hold period, which will expire on November 1, 2022.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful, including any of the
securities in the United States of
America. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "1933 Act") or any state securities laws and
may not be offered or sold within the
United States or to, or for account or benefit of, U.S.
Persons (as defined in Regulation S under the 1933 Act) unless
registered under the 1933 Act and applicable state securities laws,
or an exemption from such registration requirements is
available.
For More Information:
Contact Jim Sims, Corporate
Communications Officer, NioCorp Developments Ltd., 720-639-4650,
jim.sims@niocorp.com
@NioCorp $NB.TO $NIOBF $BR3 #Niobium #Scandium #ElkCreek
About NioCorp
NioCorp is developing a critical minerals project in
Southeast Nebraska that will
produce niobium, scandium, and itanium. The Company also is
evaluating the potential to produce several rare earths from the
Project. Niobium is used to produce specialty alloys as well
as High Strength, Low Alloy ("HSLA") steel, which is a
lighter, stronger steel used in automotive, structural, and
pipeline applications. Scandium is a specialty metal that can be
combined with Aluminum to make alloys with increased strength and
improved corrosion resistance. Scandium is also a critical
component of advanced solid oxide fuel cells. Titanium is used in
various lightweight alloys and is a key component of pigments used
in paper, paint and plastics and is also used for aerospace
applications, armor, and medical implants. Magnetic rare
earths, such as neodymium, praseodymium, terbium, and dysprosium
are critical to the making of Neodymium-Iron-Boron ("NdFeB")
magnets, which are used across a wide variety of defense and
civilian applications.
Cautionary Note Regarding Forward-Looking Statements
Neither the Toronto Stock Exchange ("TSX") nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX) accepts responsibility for the adequacy or accuracy of this
document. Certain statements contained in this document may
constitute forward-looking statements, including but not limited to
statements related to the anticipated use of proceeds from the
private placement. Such forward-looking statements are based upon
NioCorp's reasonable expectations and business plan at the date
hereof, which are subject to change depending on economic,
political and competitive circumstances and contingencies. Readers
are cautioned that such forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause a
change in such assumptions and the actual outcomes and estimates to
be materially different from those estimated or anticipated future
results, achievements or position expressed or implied by those
forward-looking statements. Risks, uncertainties and other factors
that could cause NioCorp's plans or prospects to change include
risks related to NioCorp's ability to operate as a going concern;
risks related to NioCorp's requirement of significant additional
capital; changes in demand for and price of commodities (such as
fuel and electricity) and currencies; changes or disruptions in the
securities markets; legislative, political or economic
developments; the need to obtain permits and comply with laws and
regulations and other regulatory requirements; the possibility that
actual results of work may differ from projections/expectations or
may not realize the perceived potential of NioCorp's projects;
risks of accidents, equipment breakdowns and labor disputes or
other unanticipated difficulties or interruptions; the possibility
of cost overruns or unanticipated expenses in development programs;
operating or technical difficulties in connection with exploration,
mining or development activities; the speculative nature of mineral
exploration and development, including the risks of diminishing
quantities of grades of reserves and resources; the risks involved
in the exploration, development and mining business, and the risks
set forth in the Company's filings with the SEC at www.sec.gov.
NioCorp disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/niocorp-announces-closing-of-up-sized-private-placement-for-gross-proceeds-of-c4-8-million-301579155.html
SOURCE NioCorp Developments Ltd.
