Replies to post #89199 on Niocorp Developments Ltd (NB)

[PutzMueler]

So much for 1st quarter.

2nd quarter here we come.

Same play book, but different SPAC

[wagner]

Not nice

Delay coming in.........

What should the market do???.

[grunt23]

Good Morning Big Al:

Thanks for the update.

Just to emphasize, it is a precautionary measure, just in case it becomes necessary. Must be prepared in case thing do not work as planned...

It does not seem necessary to get your "panties" in a knot.

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The purpose of the Charter Amendment Proposal and, if necessary, the Adjournment Proposal is to allow the Company more time and flexibility to complete its previously announced proposed business combination (the “Transactions”) pursuant to the Business Combination Agreement, dated as of September 25, 2022 (as may be amended from time to time, the “Business Combination Agreement”), by and among NioCorp Developments Ltd., a company organized under the laws of the Province of British Columbia (“NioCorp”), GX, and Big Red Merger Sub Ltd, a Delaware corporation and a direct, wholly owned subsidiary of NioCorp (“Merger Sub”), in case such additional time is needed. The Company’s initial public offering (“IPO”) prospectus and charter provide that the Company has until March 22, 2023 (the “Current Termination Date”) to complete its initial business combination. While the Company has entered into a definitive agreement with NioCorp with respect to the Transactions, GX’s board of directors currently believes that there may not be sufficient time before the Current Termination Date to hold a special meeting at which to conduct a vote for the stockholder approvals required in connection with the Transactions and consummate the closing of the Transactions. Accordingly, GX’s board of directors believes that in order for GX stockholders to evaluate the Transactions and to be able to potentially consummate the Transactions, the Company will need to obtain the Extension. However, if the Company is able to consummate the Transactions before the special meeting, the Company will not hold the special meeting. In the event that the Company consummates the Transactions prior to the special meeting, the Company will issue a press release and file a Form 8-K with the Securities and Exchange Commission announcing the consummation of the Transactions and the cancellation of the special meeting.

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It explains the correction in the price for the GXIIW shares. Interestingly enough the GXIIU headed in a positive direction.

Just my opinion.

Have a great weekend.