NioCorp completes name change (formerly Quantum Rare Earth Developments Corp.)
Vancouver, B.C. March 3, 2013 – NioCorp Developments Ltd. (TSX.V – NB), wishes to announce the completion of the name change announced February 25, 2013. Current trading symbols on the OTCQX – QREDF, and the FSE – BR3 are also subject to change and will be announced if revised.
Effective at market opening on March 4, 2013 trading in the shares of NioCorp Developments Ltd will commence on the TSX Venture Exchange under the trading symbol “NB”. There is no change to the capital structure of the Company. A new Cusip number CA 654484104 has been assigned.
“We are pleased to move forward with this change, to better reflect the direction and focus of the Company,” stated Peter Dickie, President and CEO. “We believe the new additions of Mark Smith, former Molycorp CEO, and Tony Fulton, former State Senator in Nebraska, to the Advisory Board, and the recent move to bring Claude Dufresne, former exclusive marketer of Niobium products for Niobec (Iamgold), to the Board of Directors, are all indicative of the confidence in our Niobium project.”
The Company will make additional announcements concerning development plans as they are finalized.
About NioCorp: The Company is developing the Elk Creek Carbonatite, the only primary niobium deposit known to be under development in the U.S., and the highest grade undeveloped niobium deposit in North America. The currently defined significant size and grade of this strategic mineral deposit (NI43-101 resource of 19.3 Million tonnes grading 0.67% Indicated containing over 129,182 tonnes of Nb2O5, and 83.3 Mt grading 0.63% containing over 523,844 tonnes of Nb2O5. Inferred), is garnering the attention of a number of significant domestic and international corporations.