Niocorp Developments Ltd (NB)

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Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On August 16, 2019, NioCorp Developments Ltd. (the “Company”) completed a drawdown from the credit facility under the previously disclosed Credit Facility Agreement, dated January 16, 2017 (as amended, the “Smith Credit Agreement”), between the Company and its Chief Executive Officer, Mark A. Smith, in the amount of $125,000. The Company expects that the funds will be used for general corporate purposes. Following the drawdown, the remaining availability under the credit facility is $1,395,000. The $125,000 draw is subject to the interest, establishment fee, covenants, events of default and other terms of the Smith Credit Agreement, a copy of which was originally filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on January 20, 2017. A copy of the most recent amendment to the Smith Credit Agreement, extending the term, was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on June 5, 2019.