Offering Was Set at a Premium to the Share Price When Launched

NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR FOR DISSEMINATION IN THE UNITED STATES

CENTENNIAL, Colo., May 11, 2021– NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX:NB) (OTCQX:NIOBF) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Private Placement”) of units (the “Units”) of the Company. A total up-sized offering of 4,334,157 Units were issued at a price per Unit of C$1.43, for total gross proceeds to the Company of approximately C$6.2 million.

The pricing of the Units was set at a premium to the five-day Volume Weighted Average Price (“VWAP”) of NioCorp common shares just prior to the launch of the offering.

Each Unit consists of one common share of NioCorp (a “Common Share”) and one common share purchase warrant (a “Warrant”).  Each Warrant will entitle the holder to acquire one Common Share at a price of C$1.63 until May 10, 2023.

Proceeds of the private placement will be used for continued advancement of the Company’s Elk Creek Superalloy Materials Project, including ongoing detailed engineering efforts, conducting technical assessments of potentially adding rare earth products to the planned product offering, and for working capital and general corporate purposes.

Participants in the private placement included Lind Global Asset Management III, LLC, an investment entity managed by The Lind Partners, a New York-based institutional fund manager, which invested approximately C$1 million in the private placement.

The Company paid cash commissions of C$111,484.23 and 77,961 broker warrants to a broker outside of the United States.  The cash commission and broker warrants were each equivalent to three (3) percent of the Units raised by the broker. Each Broker Warrant entitles the holder thereof to purchase one Common Share at a price of at a price of C$1.63 until May 10, 2023.

All of the securities sold pursuant to the offering are subject to a four-month hold period, which will expire on September 11, 2021.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

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For More Information:

Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 303-503-6203, [email protected]
Source: NioCorp Developments Ltd.
@NioCorp $NB.TO $NIOBF $BR3 #Niobium #Scandium #ElkCreek

About NioCorp

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.

Cautionary Note Regarding Forward-Looking Statements

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this document. Certain statements contained in this document may constitute forward-looking statements, including but not limited to statements related to the anticipated use of proceeds from the private placement. Such forward-looking statements are based upon NioCorp’s reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp’s plans or prospects to change include risks related to NioCorp’s ability to operate as a going concern; risks related to NioCorp’s requirement of significant additional capital; changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp’s projects; risks of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; the risks involved in the exploration, development and mining business, and the risks set forth in the Company’s filings with the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.