Niocorp Developments Ltd (NB)

[Middleborder]

Omaha I. A very mixed bag. There will be about $96 million US that will be initially available to NioCorp. Shareholders will not have the massive share dilution that everyone feared. We will have the uplisting to NASDAQ that MS Wanted so move coverage and exposure.

Per Fidelity there are 37,500,000 GXII A shares: Each share of GXII carried with it 1/3 of a warrant and I think all of those warrants survive the shares that were redeemed, so there should be about 12,487,500 post merge/post RS warrants that will convert into 13,964,673 warrants.

If exercised at (IIRC) US$11.05 they would bring in $154.3 Million more cash for NioCorp, but they can not control when exercised unless the share price is > $18 for 10days IIRC. (They might accelerate it somehow??)

The Import Export bank loan is still out there at about $800,000. 6-8 months possibly.

Buy the remaining land and start the infrastructure and maybe sink the shafts. Update the REE info and the FS and see what happens on that loan.

Good night!