Niocorp Developments Ltd (NB)

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Final closing of private placement

CENTENNIAL, Colo., May 09, 2019 (GLOBE NEWSWIRE) -- NioCorp Developments Ltd. (“NioCorp” or the “Company”) (NB.TO) (NIOBF) is pleased to announce the close of the second and final tranche (the “Final Tranche Closing”) of its non-brokered private placement (the “Private Placement”) announced April 18, 2019. Aggregate gross proceeds for the Private Placement (including both the first and the final tranche) totaled approximately C$1.77 million. Pursuant to the Private Placement the Company issued an aggregate total of 2,957,164 units of the Company (“Units”) at a price of C$0.60 per Unit. Each Unit was comprised of one Common Share of the Company and one half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each full Warrant entitles the holder to acquire a Common Share of the Company at a price of C$0.72 until two years from the date of issuance.

NioCorp closed the first tranche of the Private Placement on April 29, 2019, consisting of the issuance of 1,666,664 Units, at a price of C$0.60 per Unit, for gross proceeds of C$999,998.40. The Final Tranche Closing consisted of the issuance of 1,290,500 Units at a price of C$0.60 per Unit, for gross proceeds of C$774,300.00.

Proceeds from the Private Placement will be used for working capital and general corporate purposes. The Company paid cash commissions of C$29,999.95 in connection with the Private Placement to brokers outside of the United States. All of the securities sold pursuant to the Private Placement will be subject to a four month hold period, which will expire four months and one day from the date of issuance.