Niocorp Developments Ltd (NB)

[scooter83]

Sorry Walterc but that is wrong. There are different possible outcomes when dealing with a spac.

One outcome, the one Mark wants, is there will be few redemptions by gxii and the combination completes as planned. If that happens those of us who currently own 100% of niocorp will be diluted down to owning only 32%. That is a fact. Continuing Marks plan - comes a 1 for 10 reverse split. Disregarding the REE results, we get no benefit. In fact we are stuck with a fixed ratio and reverse split no matter how positive ree results are.

Another outcome, the one I believe will happen, is there will be about 90-95% redemptions. This will be a huge failure. There will be very little cash from the deal. Butt there will still be a huge giveaway of equity to the sponsors/fees, around 25%. Nearly all the money will come from Yorkville who will be selling on the ask to small retail investors for what can seem an eternity. This will bring us back to square one looking for a new plan.