Niocorp Developments Ltd (NB)

[Woody77]

I ran the "Public Warrant" section through an AI legalese decoder. https://legalesedecoder.com/free-legal-document-to-plain-english-translator/
No guarantee this is correct.

I had to break up the text into three parts (due to the character limit for free usage). The first sentence was too long so I had to break it up into 2 sections, the last sentence fit. I recombined the AI responses below. You can try and see if you get different results.

Here's in essence what AI spit out:

The Company has the option to buy back the Public Warrants, but only under specific circumstances. They can do this fully, not partially, by paying $0.01 for each Public Warrant. However, they can only exercise this option if three conditions are met: (i) The Company must give the holders of the Public Warrants a written notice of redemption 30 days before they plan to buy them back. (ii) The last reported sale price of the Common Shares (the regular shares of the Company) needs to be at least around $16.10 per share (this price may change if there are any stock splits, stock dividends, reorganizations, recapitalizations, or similar changes to the Company's stock) during a period of 30 days when the stock market is open for business, there are at least 20 days when trading activity takes place, and this period ends three business days before the day the Company sends a notice to the warrant holders about redeeming their warrants, AND (iii) there is a proper legal document that allows the sale of the company's shares when the warrants are exercised, AND there is a currently updated document that provides information about these shares, available until the redemption date, then certain actions can take place.

Upon receiving a notice from the Company, the people who hold the warrant will have until the redemption date to choose whether they want to exchange it for money, or, if the Company decides, they can exchange it without involving money. The Public Warrants are not classified as a separate form of ownership and are treated as part of the Company's assets from the day they are given out, and also on every subsequent financial statement date. Since the Transactions resulted in the Company having more debts than assets, no specific value was given to the Public Warrants.