The Prospector News

NioCorp Announces Closing of Up-Sized Private Placement for Gross Proceeds of C$6.2 Million

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

NioCorp Announces Closing of Up-Sized Private Placement for Gross Proceeds of C$6.2 Million






Offering Was Set at a Premium to the Share Price When Launched


NioCorp Developments Ltd. (TSX:NB) (OTCQX:NIOBF) is pleased to announce that it has closed its previously announced non-brokered private placement of units of the Company. A total up-sized offering of 4,334,157 Units were issued at a price per Unit of C$1.43, for total gross proceeds to the Company of approximately C$6.2 million.


The pricing of the Units was set at a premium to the five-day Volume Weighted Average Price of NioCorp common shares just prior to the launch of the offering.


Each Unit consists of one common share of NioCorp and one common share purchase warrant.  Each Warrant will entitle the holder to acquire one Common Share at a price of C$1.63 until May 10, 2023.


Proceeds of the private placement will be used for continued advancement of the Company’s Elk Creek Superalloy Materials Project, including ongoing detailed engineering efforts, conducting technical assessments of potentially adding rare earth products to the planned product offering, and for working capital and general corporate purposes.


Participants in the private placement included Lind Global Asset Management III, LLC, an investment entity managed by The Lind Partners, a New York-based institutional fund manager, which invested approximately C$1 million in the private placement.


The Company paid cash commissions of C$111,484.23 and 77,961 broker warrants to a broker outside of the United States.  The cash commission and broker warrants were each equivalent to three (3) percent of the Units raised by the broker. Each Broker Warrant entitles the holder thereof to purchase one Common Share at a price of at a price of C$1.63 until May 10, 2023.


All of the securities sold pursuant to the offering are subject to a four-month hold period, which will expire on September 11, 2021.



About NioCorp


NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce niobium, scandium, and titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy (“HSLA”) steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications.  Scandium can be combined with Aluminum to make super-high-performance alloys with increased strength and improved corrosion resistance.  Scandium also is a critical component of advanced solid oxide fuel cells.  Titanium is used in various superalloys and has extensive uses in aerospace, defense, transportation, medical, and other applications. It also is a key component of pigments used in paper, paint and plastics.

Posted May 11, 2021

Share this news article


Azimut Drills 24.0 g/t Au over 18 m, including 38.7 g/t Au over 9 m, in the expanding Patwon Gold Zone, Elmer Property, Quebec

Azimut Exploration Inc. (TSX-V: AZM) is pleased to report that i... READ MORE

June 22, 2021

Opus One Obtains 6.02 g/t Gold Over 2.5 m and Brings to Light Its Gold Discovery Near Matagami

Opus One Gold Corp. Inc. (TSX-V:OOR) a mining exploration compan... READ MORE

June 22, 2021

Western Sierra Resource Corporation Enters Talks to Acquire Majority Stake in a Gold Mining Operation With Enhanced Recovery Net Income Projected at $3.2 Billion


June 22, 2021

Maritime Resources Traces Orion North Zone Over 550 Metres - Intersects 12.43 gpt Gold and 2.15 gpt Silver Over 1.20 Metres, Including 50.60 gpt Gold and 7.90 gpt Silver Over 0.20 Metres

Maritime Resources Corp. (TSX-V: MAE) is pleased to announce dril... READ MORE

June 22, 2021

Labrador Gold Intercepts 50.38 g/t Over 1.85 Metres Including 160.42 g/t Over 0.55 Metres at Big Vein, Kingsway Project, Newfoundland

Labrador Gold Corp. (TSX-V:LAB) (OTCQX:NKOSF) (FNR: 2N6) is pleas... READ MORE

June 22, 2021

Copyright 2021 The Prospector News