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Sunday, June 18, 2017 4:30:06 PM
NioCorp and Northcott Capital Engage Firm to Serve as Independent Engineer for the Elk Creek Project Debt Financing Effort
CENTENNIAL, Colo., May 01, 2017 (GLOBE NEWSWIRE) -- NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX:NB) (OTCQX:NIOBF) (FSE:BR3) announces that it and Northcott Capital (“Northcott”) have engaged the engineering firm of RPM Global (“RPM”) to serve as independent engineer as part of the anticipated process for obtaining debt financing for the Elk Creek Superalloy Project (the “Project”) in Nebraska.
A highly regarded international mineral resources consulting and engineering firm, RPM (formerly RungePincockMinarco) will conduct technical due diligence for the financial institutions expected to form a debt syndicate to help finance the Project. RPM has served as Lenders’ Engineer for a total of 32 projects over the past five years, including in the China Molybdenum Company’s 2016 purchase of the Anglo-American Catalao Niobium mine in Brazil, where RPM provided acquisitions due diligence, JORC Resource and Reserve Statement review, and valuation support.
Northcott is leading the effort on NioCorp’s behalf to assemble the expected debt component of the Project’s overall financing package. NioCorp previously obtained in-principle eligibility for a loan guarantee to be provided by the Federal Republic of Germany to support the Company’s debt financing strategy. That loan guarantee, if approved by the German government, may form the anchor component of NioCorp’s debt financing.
“As part of our effort to continue to advance the Elk Creek Project to construction, we are pleased to have RPM serve as the independent engineer for the debt financing syndicate that we expect to come together in support of the Project,” said Mark A. Smith, CEO and Executive Chairman of NioCorp. “This is an important step in the process and will help us hit the ground running in the project finance effort once we complete work on the Project feasibility study.”
On Behalf of the Board of Directors,
"Mark Smith”
Mark Smith
Executive Chairman, CEO, and Director
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