Deal raises funds for exploration and development, corporate purposes
By Devika Patel
Knoxville, Tenn., Jan. 15 - NioCorp Developments Ltd. said it will raise C$10 million in a non-brokered private placement of stock.
The company will sell 50 million common shares at C$0.20 per share. The price per share is a 13.04% discount to the Jan. 14 closing share price of C$0.23.
Proceeds will be used for exploration and development of the Elk Creek Niobium project and general working capital.
The Vancouver, B.C., company explores for niobium and rare earth elements.
| Issuer: | NioCorp Developments Ltd.
|
| Issue: | Common shares
|
| Amount: | C$10 million
|
| Shares: | 50 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agents: | Non-brokered
|
| Pricing date: | Jan. 15
|
| Stock symbol: | TSX Venture: NB
|
| Stock price: | C$0.23 at close Jan. 14
|
| Market capitalization: | C$27.61 million
|
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