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NioCorp Announces C$2 Million Non-Brokered Private Placement
CENTENNIAL, Colo. (January 27, 2017) – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX: NB; OTCQX: NIOBF; and FSE: BR3) is pleased to announce that it will offer, on a non-brokered private placement basis, up to 2,857,143 units of the Company (the "Units") at a price of C$0.70 per Unit, representing aggregate gross proceeds of up to C$2,000,000 (the "Offering").
Each Unit will consist of one common share of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Common Share at C$0.85 per Common Share for a period of 36 months from the closing of the Offering.
The net proceeds from the Offering will be used by the Company for continued development of NioCorp’s Elk Creek Superalloy Materials Project (the “Elk Creek Project”) and for general corporate purposes.
The Offering will take place by way of a private placement to qualified investors in such provinces of Canada (except Quebec) as the Company may designate, and otherwise in those jurisdictions where the Offering can lawfully be made, including the United States and Europe under applicable private placement exemptions.
The Company may pay finder’s fees or commissions on a portion of the private placement in respect of subscriptions originated outside of the United States.
The closing of the Offering is expected on or about the week of February 10, 2017 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the Toronto Stock Exchange.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. These securities have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws and may not be offered or sold in the United States, or to, or for the account or benefit of, a U.S. person or person in the United States absent such registration or an applicable exemption from such registration requirements. United States and U.S. person are as defined in Regulation S under the U.S. Securities Act.
On Behalf of the Board of Directors,
"Mark Smith”
Mark Smith
President, CEO, Chairman and Director
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