NioCorp Developments Ltd. (TSX: NB) (OTCQX: NIOBF) is pleased to announce that its previously announced funding deal for US$10 million with Lind Global Asset Management III, LLC, an investment entity managed by The Lind Partners, a New York-based institutional fund manager, has been funded and is now closed. NioCorp has received net proceeds of US$9.65 million from the Funding.
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 steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a superalloy material 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 superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.
About The Lind Partners
The Lind Partners is an institutional fund manager and leading provider of growth capital to small- and mid-cap companies publicly traded in the US, Canada, Australia and the UK. Lind makes direct investments ranging from US$1 to US$30 million (plus follow-ons), invests in syndicated equity offerings and selectively buys on market. Lind has completed more than 100 direct investments totaling over $1 Billion in value and has been a flexible and supportive capital partner to investee companies since 2011.
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