NioCorp Developments Ltd. Announces Non-Brokered Private Placement of Up to CAD$5.13 million
CENTENNIAL, COLORADO--(Marketwired - Dec. 15, 2015) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR FOR DISSEMINATION IN THE UNITED STATES
NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) announces that it will, subject to regulatory approval, conduct a non-brokered private placement (the "Private Placement") of up to 9 million units (each a "Unit") of the Company at a price of CAD$0.57 per Unit to raise gross proceeds of up to CAD$5.13 million. Each Unit will consist of one common share of the Company and one transferable common share purchase warrant (a "Warrant"). Each Warrant shall be exercisable to acquire one additional common share of the Company for a period of 3 years at a price of CAD$0.75 per common share.
The Private Placement is subject to Toronto Stock Exchange (the "Exchange") approval. All securities issued under the Private Placement will be subject to a four-month hold period from the date of issuance.
The Company may pay a finder's fee in accordance with Exchange policies and applicable securities legislation. The proceeds of the Private Placement will be used for continuing work on the feasibility study on the Elk Creek Niobium/Scandium/Titanium project being prepared by NioCorp and for general working capital.
Mark Smith, Executive Chairman and Director
$NB $NIOBF #Niobium #Scandium #ElkCreek
About NioCorp
NioCorp is developing the Elk Creek Niobium / Scandium / Titanium project in Southeast Nebraska. Niobium is used to produce High Strength, Low Alloy ("HSLA") steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium can be combined with Aluminum to make an alloy with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.
Cautionary Statements
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Contact
NioCorp Developments Ltd..
Jim Sims
VP of External Affairs
720-639-4650
jim.sims@niocorp.com
www.NioCorp.com
