NioCorp Announces Closing of $5.0 Million Underwritten Offering Priced At-The-Market Under Nasdaq Rules

CENTENNIAL, CO / ACCESS Newswire / January 31, 2025 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB) today announced the closing of its previously announced underwritten offering of 2,577,320 common shares, 2,577,320 Series A warrants to purchase up to 2,577,320 common shares (the "Series A Warrants") and 1,288,660 Series B warrants to purchase up to an additional 1,288,660 common shares (the "Series B Warrants") (the "Offering"). Each common share was sold together with one Series A Warrant and one-half of one Series B Warrant at a combined public offering price of $1.94, for gross proceeds of approximately $5.0 million before deducting underwriting discounts and offering expenses.

The Series A Warrants have an exercise price of $1.98 per underlying common share, are exercisable immediately and will expire thirty months following the date of issuance. The Series B Warrants have an exercise price of $2.05 per underlying common share, are exercisable immediately and will expire four years following the date of issuance.

Maxim Group LLC acted as sole book-running manager for the Offering.

NioCorp currently intends to use the net proceeds from the Offering to repay a portion of the outstanding obligations under the unsecured notes previously issued by the Company in April 2024 and for working capital and general corporate purposes, including to advance its efforts to launch construction of a critical minerals project in Southeast Nebraska (the "Elk Creek Project") and move it to commercial operations.

The Offering was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-280176), previously filed with the U.S. Securities and Exchange Commission (the "SEC") on June 13, 2024 and subsequently declared effective by the SEC on June 27, 2024. No securities were offered or sold to Canadian purchasers under the Offering.

A prospectus supplement relating to the Offering and describing the terms thereof was filed with the SEC and forms a part of the effective registration statement and is available on the SEC's website at www.sec.gov and on the Company's profile on the SEDAR+ website at www.sedarplus.ca. Copies of the prospectus supplement and accompanying prospectus may be obtained by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or by telephone at [phone] or by email at [e-mail].