CENTENNIAL, Colo., Dec. 13, 2021 /PRNewswire/ -- NioCorp
Developments Ltd. ("NioCorp" or the "Company")
(TSX: NB; OTCQX: NIOBF) is pleased to announce an agreement
with NioCorp CEO and Executive Chairman, Mark A. Smith, to extend the maturity date of
its existing $3.5 million
non-revolving credit facility with Mr. Smith to June 30, 2022.
The agreement to extend the credit facility is subject to
Toronto Stock Exchange approval and is a "related party
transaction" under Multilateral Instrument 61-101 Protection of
Minority Security Holders in Special Transactions ("MI
61-101"). Because the value of the credit facility is less
than 25% of NioCorp's market capitalization, the agreement to
extend the credit facility is exempt from the formal valuation and
minority shareholder approval requirements of MI 61-101.
NioCorp $NB $NIOBF #Niobium #Scandium #ElkCreek #MarkSmith
For More Information
Contact Jim Sims, VP of External
Affairs, NioCorp Developments Ltd., 303-503-6203,
jim.sims@niocorp.com
https://www.niocorp.com
About NioCorp
NioCorp is developing a superalloy materials project in
Southeast Nebraska that will
produce Niobium, Scandium, and Titanium. The Company also is
evaluating the potential to produce several rare earth byproducts
from the Project. 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 is also 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. 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.
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 Company's ability to produce Niobium, Scandium,
Titanium and rare earths products at the Elk Creek Superalloy
Materials Project. 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.
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SOURCE NioCorp Developments Ltd.