NioCorp Delivers Advance Notice under the Standby Equity Purchase Agreement

CENTENNIAL, CO / ACCESSWIRE / February 26, 2024 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (Nasdaq:NB)(TSX:NB) today announced that it has delivered a written notice (the "Advance Notice") pursuant to the previously announced Standby Equity Purchase Agreement, dated January 26, 2023 (the "Standby Equity Purchase Agreement"), requesting the purchase of 75,000 shares (the "Advance Shares") of the Company's common shares, without par value (the "Common Shares").

The Company has elected an Option 2 Pricing Period (as defined in the Standby Equity Purchase Agreement). Subject to the satisfaction of certain conditions contained in the Standby Equity Purchase Agreement, the Advance Shares will be issued at a purchase price equal to 97% of the daily volume-weighted average price of the Common Shares on The Nasdaq Stock Market LLC ("Nasdaq") as reported on Bloomberg Financial Markets during a pricing period of three consecutive trading days commencing on the date hereof.

The Company expects the issuance and sale of the Advance Shares will close on or about February 29, 2024.

Investors and securityholders should refer to the Company's news release dated January 26, 2023 and its management information and proxy circular dated February 8, 2023 for additional information regarding the Standby Equity Purchase Agreement, both as filed by NioCorp with the applicable Canadian securities regulatory authorities through the website maintained by the Canadian Securities Administrators at www.sedar.com.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities. The Advance Shares are being offered and sold in reliance on the exemption from registration set forth in Section 4(a)(2) of the Securities Act of 1933 (the "Securities Act"). The issuance and sale by the Company of the Advance Shares have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign securities laws. In Canada, no offering of securities shall be made except by means of a prospectus in accordance with the requirements of applicable Canadian securities laws or an exemption therefrom. This communication is not, and under no circumstances is it to be construes as, a prospectus, offering memorandum, an advertisement or a public offering in any province or territory of Canada. In Canada, no prospectus has been filed with any securities commission or similar regulatory authority in respect of any of the Advance Shares.