Non-brokered offering sells 9 million units with three-year warrants
By Devika Patel
Knoxville, Tenn., Dec. 16 – NioCorp Developments Ltd. said it has arranged a C$5.13 million non-brokered private placement of units.
The company will sell 9 million units of one common share and one warrant at C$0.57 per unit.
Each three-year warrant will be exercisable at C$0.75, a 29.31% premium to the Dec. 15 closing share price of C$0.58.
Proceeds will be used for the feasibility study on the Elk Creek Niobium/Scandium/Titanium project and general working capital.
The Vancouver, B.C., company explores for niobium and rare earth elements.
| Issuer: | NioCorp Developments Ltd.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$5.13 million
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| Units: | 9 million
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| Price: | C$0.57
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| Warrants: | One warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.75
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| Agent: | Non-brokered
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| Pricing date: | Dec. 16
|
| Stock symbol: | Toronto: NB
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| Stock price: | C$0.58 at close Dec. 15
|
| Market capitalization: | C$88.64 million
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