08:40:13 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Niocorp Developments Ltd (2)
Symbol NB
Shares Issued 34,731,303
Close 2024-02-28 C$ 3.18
Market Cap C$ 110,445,544
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Niocorp Developments issues, sells 75,000 shares

2024-02-28 18:05 ET - News Release

Mr. Jim Sims reports

NIOCORP COMPLETES ISSUANCE AND SALE OF 75,000 SHARES UNDER THE STANDBY EQUITY PURCHASE AGREEMENT

Niocorp Developments Ltd. today issued and sold 75,000 shares (the advance shares) of the company's common shares, without par value, upon settlement of the previously announced advance notice that it delivered on Feb. 26, 2024, pursuant to the standby equity purchase agreement, dated Jan. 26, 2023 (the standby equity purchase agreement). The advance shares were issued and sold at a purchase price per share of $2.2714 which reflects 97 per cent of the average volume-weighted average price of the common shares on the Nasdaq Stock Market LLC as required under the standby equity purchase agreement.

About Niocorp Developments Ltd.

Niocorp is developing a critical minerals project in southeast Nebraska that is expected to produce niobium, scandium and titanium, subject to the receipt of sufficient project financing. The company also is evaluating the potential to produce several rare earths from the Elk Creek project. Niobium is used to produce specialty alloys as well as high-strength, low-alloy 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, armour and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium and dysprosium, are critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defence and civilian applications.

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