Niocorp Developments Ltd (NB)

[Nioman]

CENTENNIAL, CO / ACCESSWIRE / December 14, 2023 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB)(TSX:NB) is pleased to announce that the Company has entered into binding subscription agreements with certain individual accredited investors, including certain officers and directors of the Company (the "Insider Investors"), to complete a non-brokered private placement (the "Private Placement") of 336,185 units of the Company (each, a "Unit") at a price of US$3.08 per Unit, provided that the Insider Investors have agreed to subscribe at a price of US$3.205 per Unit, which price includes US$0.125 per Warrant (as defined below) underlying each Unit purchased by the Insider Investors and allows the Insider Investors to participate in the Private Placement in accordance with the rules of The Nasdaq Stock Market LLC ("Nasdaq"), for aggregate gross proceeds of US$1 million.

Each Unit issuable under the Private Placement will consist of one common share in the capital of the Company (a "Common Share") and one common share purchase warrant (a "Warrant" and, together with the Common Shares included as part of the Units, the "Securities"). Each Warrant will be exercisable into one Common Share (a "Warrant Share") at an exercise price of US$3.54 per Warrant Share, for a period of 24 months following the closing date of the Private Placement (the "Closing Date").

It is anticipated that the Closing Date will occur on or about December 22, 2023, subject to the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange (the "TSX"). The Company expects the proceeds of the Private Placement will be used for continued advancement of the Company's Elk Creek Critical Minerals Project (the "Elk Creek Project") and for working capital and general corporate purposes.

All of the Securities issuable pursuant to the Private Placement will be subject to a hold period in accordance with applicable Canadian securities laws, which will expire four months and one day from the Closing Date.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the Securities in the United States of America. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
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