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.