NioCorp Announces Completion of 85,000 Share Sale Under Equity Agreement

NioCorp Developments Ltd. (NASDAQ:NB; TSX:NB), headquartered in Centennial, Colorado, has completed the issuance and sale of 85,000 common shares, advancing its financial positioning. This move comes under the Standby Equity Purchase Agreement dated January 26, 2023. The shares, sold at $2.6638 each, represent 97% of their average volume-weighted price on Nasdaq, in line with agreement stipulations.

The sale was conducted in compliance with Section 4(a)(2) of the Securities Act of 1933, avoiding the need for a formal registration under the Securities Act or state securities laws. Importantly, the transaction sidesteps public offerings or solicitation of securities in the United States and Canada, ensuring adherence to regulatory guidelines.

NioCorp, focusing on its critical minerals project in Southeast Nebraska, anticipates the production of important minerals like niobium, scandium, and titanium. The successful share issuance underlines the company's strategic financial maneuvers to secure necessary project financing. This step is critical for NioCorp's pursuit of advancing its Elk Creek Critical Minerals Project, aiming to bolster its position in the specialty alloys and high-strength, low-alloy steel markets.