Replies to post #99781 on Niocorp Developments Ltd (NB)

[scooter83]

That is correct.

Spacs are scams, confidence games. Niocorp was the Mark. And Mark Smith was the gullible fool who enabled the stolen equity.

Gxii was started with $25,000 and control of class B shares which gave them more than 20% of victim niocorp.

The $8.5 mil from the warrants was used to pay gxii ipo expenses and at the same time getting reimbursed with NB warrants.

The last part of the con, get victim niocorp to pay all the remaining expenses at merger and have them walk away with a $5 mil deficit from the deal.

Now if the con continues, spin the deal to others in press releases while dumping toxic debt.

https://www.sec.gov/Archives/edgar/data/1826669/000121390021014625/fs12021a2_gxacquisitioncorp2.htm#T5

Page 13
"In October 2020, our sponsor paid $25,000, or approximately $0.003 per share, to cover certain of our offering costs in exchange for 10,062,500 founder shares"