NioCorp Developments Ltd. (TSE:NB) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
Lind Agreement Extension
As previously announced, on December 14, 2015, NioCorp
Developments Ltd. (the Company) entered into a definitive
convertible security funding agreement (the Lind Agreement) with
an entity managed by The Lind Partners, a New York-based asset
management firm (collectively with The Lind Partners, Lind). On
March 20, 2017, the Company entered into an extension agreement
with Lind (the Lind Extension Agreement) to which the Company and
Lind agreed to extend for six (6) months the term of the Lind
Agreement in relation to the term of first convertible security
thereunder and clarify the 24 month term of the additional
funding under the first convertible security.
Smith Extensions
On March 20, 2017, the Company extended the due date of Mark
Smiths previously announced 2015 Loan to the Company of $1
million by 12 months and the due date of Mr. Smiths previously
announced January 2017 Credit Facility by 6 months (collectively,
the Smith Extension Agreements).
The above disclosure of the material terms of the Lind Extension
Agreement and the Smith Extension Agreements are qualified in
their entirety by the terms and conditions of such agreements
which are filed as Exhibits 10.1-10.3 to this Current Report on
Form 8-K and are hereby incorporated by reference.
| Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The disclosure regarding the Lind Extension Agreement and the
Smith Extension Agreements contained in Item 1.01 of this Current
Report on Form 8-K is hereby incorporated by reference into this
Item 2.03.
Item 3.03 Material Modification to Rights of Security
Holders.
The disclosure regarding the Lind Extension Agreement and the
Smith Extension Agreements contained in Item 1.01 of this Current
Report on Form 8-K is hereby incorporated by reference into this
Item 3.03.
Item 9.01. Exhibits.
| Exhibit | Description | |
| 10.1 | Lind Extension Agreement | |
| 10.2 | Smith 2015 Loan Extension Agreement | |
| 10.3 | Smith 2017 Credit Facility Extension Agreement |
About NioCorp Developments Ltd. (TSE:NB)
NioCorp Developments Ltd. is an exploration-stage company. The Company is a mineral exploration/development company engaged in the acquisition, exploration and development of mineral properties. The Company operates through a segment consisting of exploration and development of mineral deposits in North America, specifically, the Elk Creek Niobium/Scandium/Titanium property (the Elk Creek Project) located in Southeastern Nebraska. The Company also holds an interest in a mineral exploration property located in Canada. The Company’s Elk Creek Project is a niobium and scandium exploration project that also contains titanium. The Elk Creek Project is located approximately 75 kilometers southeast of Lincoln, Nebraska, the state capital of Nebraska. The Company has not generated any revenues. Its subsidiaries include 0896800 BC Ltd., Elk Creek Resources Corp. and Silver Mountain Mines Corp. NioCorp Developments Ltd. (TSE:NB) Recent Trading Information
NioCorp Developments Ltd. (TSE:NB) closed its last trading session down -0.020 at 0.740 with 47,755 shares trading hands.