Niocorp Developments Ltd (NB)

[ColdDarkHole]

It is a convertible security as stated on the Niocorp website news release.

"NioCorp will receive net proceeds of US$9.65 million from the Funding. The Face Value of the convertible security will have a 24-month maturity date and can be paid in cash or be converted into common shares of the Company (“Shares”) at a conversion price equal to 85% of the five-day volume weighted average price (“VWAP”) immediately prior to each conversion."

Dilution on the horizon, but we knew that was coming. So if they secure enough additional funding, they can pay it back without issuing new shares.

We are right on the verge here, right? 24 months. 2 more years possibly, but hopefully not. By that time there will be more to do with the air permit, and the EPA is now back on steroids.

Lets hope for the best. Hopefully there is more in the works much sooner than 24 months.

Also, in my research, a convertible security is a common source of startup funding when there is no other institutional money available. We can get money, but we also have to wear the lender's noose in the form of new shares if we don't come up with the 10M to pay the convertible note in 24 months.

https://www.niocorp.com/niocorp-secures-10-million-in-funding-to-advance-the-elk-creek-project-and-purchase-a-key-nebraska-land-parcel-along-with-90-percent-of-the-projects-mineral-resource-and-mineral-reserve/