NioCorp Announces Second Increase in Non-Brokered Private Placement
February 07 2017 - 06:49PM
NioCorp Developments Ltd. (“
NioCorp” or the
"
Company”) (TSX:NB) (OTCQX:NIOBF) (FSE:BR3), is
pleased to announce, further to its January 27, 2017 announcement
of a non-brokered private placement of Units at a price of C$0.70
per Unit (the “
Offering”), that it has further
increased the maximum gross proceeds of the Offering to C$4.0
million from the original maximum of C$2.0 million. This
marks the second increase in maximum gross proceeds for the
Offering, following an increase to C$2.5 million from C$2.0 million
announced on January 30, 2017.
The closing of the Offering is expected on or about
February 17, 2017 and is subject to certain conditions including,
but not limited to, the receipt of all necessary regulatory
approvals including the approval of the Toronto Stock
Exchange. Full details of the Offering are available in the
Company’s January 27, 2017 announcement, seen here.
This press release does not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of any of the securities in any jurisdiction in which such an
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. These securities have not been registered under the
United States Securities Act of 1933, as amended (the “U.S.
Securities Act”), or any applicable state securities laws, and may
not be offered or sold in the United States, or to, or for the
account or benefit of, a U.S. person or person in the United States
absent such registration or an applicable exemption from such
registration requirements. United States and U.S. person are as
defined in Regulation S under the U.S. Securities Act.
On Behalf of the Board of Directors,
"Mark Smith”
Mark Smith President, CEO, Chairman and
Director
Source: NioCorp Developments
Ltd. @NioCorp $NB $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 closing, size and structure of the
Offering. 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 positions expressed or implied by those
forward-looking statements. Risks, uncertainties and other factors
that could cause NioCorp’s plans or prospects to change include
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 under the heading “Risk Factors” in the Company’s S-1
registration statement and other 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.
For More Information:
Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 720-639-4650, jim.sims@niocorp.com
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