Niocorp Developments Ltd (NB)

[tedro84]

Could be for a variety of reasons, but first a comment.

I didn’t give the “backdoor” response you just mentioned. You’ve posted a nugget or two, but most of your posts are so ridiculously repetitive that I scroll past.

So,
1. They wanted the big boy board, but weren’t as ready as they thought.

2. Reverse splits tend to get a negative response regardless of the reasons behind it.

3. The lack of enthusiasm from GXII investors led others to question the investment.

4. There has been selling pressure from a few entities.

4a. Yorkville would come to mind first for many. These could have been presold similar to how many of us suspect the Kingdon deal worked, or they could be giving downward pressure. SEDAR is going through some changes and I haven’t been able to look at the details of the deal.

4b. I suspect this is a big part of it. The underwriter and advisor working on behalf of GX agreed to take shares in lieu of cash. This hasn’t been mentioned much if at all here. A few of the shares were issued last Q and reported, the rest would likely have been issued Q4 and haven’t been reported. There’s little doubt these shares as payment are being sold on the open market and causing downward pressure.

This worked out to $3.57MM in shares and was not included in the other transaction costs. 84,000 were issued to BTIG in Q3 and it looks like they are paid off, but Cantor would have still been due $3MM in new NB shares as of 3/31.