VERY INTERESTING READ (IMO) from Kmack's SEC.GOV link (posted this morning) related to Niocorp's April 1, 2021 (Yesterday's) 424B3: Prospectus Rule (Rule 424 (b)(3)) FILING. Thanks for the "Due Diligence" and links Kmack!
Niocorp's use of "EMERGING GROWTH COMPANY" is interesting...again IMO. The SEC.GOV definition is below (at the end of the post).
From the SEC.GOV link:
"We are an “emerging growth company” as defined under federal securities laws and, as such, may elect to comply with certain reduced public company requirements for future filings.Investing in the Common Shares involves a high degree of risk. See “Risk Factors” beginning on page 6 of this prospectus.Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of the securities offered hereby or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.The date of this prospectus is April 1, 2021.Table of Contents2019 Elk Creek Feasibility StudyA feasibility study for the Elk Creek Project"
From The SEC.GOV Page/ Website: ...Definition of "EMERGING GROWTH COMPANY":
"If your company qualifies as an “emerging growth company,” as defined in Section 2(a)(19) of the Securities Act, it may choose to follow disclosure requirements that are scaled for newly public companies.
"A company qualifies as an emerging growth company if it has total annual gross revenues of less than $1.07 billion during its most recently completed fiscal year and, as of December 8, 2011, had not sold common equity securities under a registration statement. A company continues to be an emerging growth company for the first five fiscal years after it completes an IPO, unless one of the following occurs:
its total annual gross revenues are $1.07 billion or more
it has issued more than $1 billion in non-convertible debt in the past three years or
it becomes a “large accelerated filer,” as defined in Exchange Act Rule 12b-2
Emerging growth companies are permitted:
to include less extensive narrative disclosure than required of other reporting companies, particularly in the description of executive compensation
to provide audited financial statements for two fiscal years, in contrast to other reporting companies, which must provide audited financial statements for three fiscal years
not to provide an auditor attestation of internal control over financial reporting under Sarbanes-Oxley Act Section 404(b)
to defer complying with certain changes in accounting standards and
to use test-the-waters communications with qualified institutional buyers and institutional accredited investors"
AI
