World News: 15:36 GMT Friday 14th September 2018. [NioCorp Developments Ltd via Globe Newswire via SPi World News]
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CENTENNIAL, Colo., Sept. 14, 2018 (GLOBE NEWSWIRE) -- NioCorp Developments Ltd. ("" or the "") announces that it has closed the first tranche (“”) of its previously announced private placement (the “”) of units (the “”) of the Company. Under the First Tranche, a total of 2,917,587 units (the “Units”) were issued at a price per Unit of C$0.63, for total gross proceeds to the Company of approximately C$1.84 million.
The Company expects to close a second tranche of up to approximately C$1.2 million on or about September 21, 2018.
Each Unit issued pursuant to the First Tranche consists of one common share in the capital of the Company (a “”) and one-half of one Common Share purchase warrant (each whole warrant, a “”). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of C$0.75 until September 14, 2020.
Proceeds from the First Tranche will be used for working capital and general corporate purposes.
All of the securities sold pursuant to the First Tranche are subject to a four-month hold period, which will expire on January 14, 2019, as well as additional restrictions required by the United States Securities Act of 1933, as amended (the “”).
Source: NioCorp Developments Ltd.@NioCorp $NB $NIOBF $BR3 #Niobium #Scandium #ElkCreek
For More Information: Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 720-639-4650,
NioCorp is developing a superalloy materials project in Southeast Nebraska with an aim to produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy ("HSLA") steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium also is a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.
Globe Newswire: 15:36 GMT Friday 14th September 2018
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