NioCorp Announces Closing of Private Placement for Gross Proceeds of US$1 Million

CENTENNIAL, CO / ACCESSWIRE / September 1, 2023 / NioCorp Developments Ltd. (TSX:NB)(NASDAQ:NB) ("NioCorp" the "Company"), is pleased to announce that it has closed a non-brokered private placement (the "Private Placement") of 250,000 units of the Company at a price of USD$4.00 per unit, for aggregate gross proceeds to the Company of USD$1 million.

Each unit issued in the Private Placement consisted of one common share in the capital of the Company (a "Common Share") and one common share purchase warrant (a "Warrant" and, together with the Common Shares, the "Securities"). Each Warrant is exercisable into one Common Share at a price of USD$4.60 per Common Share until September 1, 2025. All of the Securities issued pursuant to the Private Placement are subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws.

Proceeds of the Private Placement will be used for continued advancement of the Company's Elk Creek Critical Minerals Project and for working capital and general corporate purposes.

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.

FOR MORE INFORMATION:

Jim Sims, Corporate Communications Officer, NioCorp Developments Ltd., [phone], [e-mail]
@NioCorp $NB $NB.TO $BR3 #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing a critical minerals project in Southeast Nebraska that will produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Project. Niobium is used to produce specialty alloys 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 specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of Neodymium-Iron-Boron ("NdFeB") magnets, which are used across a wide variety of defense and civilian applications.