Niocorp Developments Ltd (NB)

[AlwaysOptimistic]

Addtl: if mgt agreed to reducing the exercise price, the stipulation should be that the proceeds be used only for financing specific drilling that EXIM requires, specific engineering work that EXIM requires and to complete the updated FS. No funds generated by an amendment to the warrant agreement should be used for paying salaries, bonuses or allocating shares to company employees or BOD’s. NioCorp gets the money much sooner if they reduce the strike price now and warrant shareholders get to purchase shares cheaper (sub $2/share) and sooner than the current exercise price for warrants which is $10+. An amendment to warrant shareholders exercise price will benefit long term shareholders instead of companies such as Yorkville who have no Long term interest in holding shares and outstanding items that are holding up EXIM financing will get cleared up sooner. This new warranty arrangement would and should be structured this way so it’s a win win for both NioCorp and shareholders not just one side or the other. Dilution will happen either way if NioCorp sells more shares so why not offer shareholders the opportunity first.