NioCorp is pleased to announce that its demonstration processing plant in Quebec, Canada is now processing ore from the Company’s Elk Creek Critical Minerals Project.
More states are likely to follow California’s lead in banning the future sale of internal combustion engine vehicles as a means of accelerating demand for electric vehicles and addressing climate change, according to NioCorp CEO and Executive Chairman Mark Smith, and that will drive higher demand for EV-critical minerals.
The Inflation Reduction Act of 2022 includes multiple financial and tax incentives designed to encourage greater production of critical minerals in the U.S. Virtually all of the critical minerals NioCorp intends to produce as part of its Elk Creek Critical Minerals Project in Nebraska would be eligible for new tax credits once the Project is financed and placed into commercial production.
NioCorp has closed its previously announced non-brokered private placement of units of the Company. A total up-sized offering of 4,981,035 Units were issued at a price per Unit of C$0.96, for total gross proceeds to the Company of approximately C$4.8 million.
NioCorp has filed a Technical Report prepared in accordance with National Instrument 43-101 regarding its previously announced 2022 Feasibility Study completed for the Company’s Elk Creek Critical Minerals Project.
NioCorp announced that it intends to offer, on a non-brokered private placement basis, up to 4,519,481 units of the Company at a price of C$0.96 per Unit for gross proceeds to the Company of up to approximately C$4.35 million.