NioCorp Developments Ltd. (TSE:NB) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
As previously disclosed, NioCorp Developments Ltd. (the “Company”) received a loan of $1.5 million from Mark A. Smith, the Company’s Chief Executive Officer, President, Executive Chairman and Director, to a loan agreement, dated June 17, 2015 (as amended on July 13, 2016 and March 20, 2017, the “Smith Loan”), by and between the Company and Mr. Smith. Also, as previously disclosed, the Company entered into a $2.0 million non-revolving credit facility agreement, dated January 16, 2017 (as amended on March 20, 2017, the “Smith Credit Facility”), by and between the Company and Mr. Smith.
On April 6, 2018, the Company and Mr. Smith entered into amending agreements to each of the Smith Loan (the“Smith Loan Extension Agreement”) and the Smith Credit Facility (the“Smith Credit Facility Extension Agreement”), extending the maturity dates of the Smith Loan and the Smith Credit Facility to June 17, 2019 and June 16, 2019, respectively.
The above description of the Smith Loan Extension Agreement and the Smith Credit Facility Extension Agreement is qualified in its entirety by reference to the Smith Loan Extension Agreement and the Smith Credit Facility Extension Agreement, copies of which are filed as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K and are hereby incorporated by reference into this Item 1.01.
|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 Smith Loan Extension Agreement and the Smith Credit Facility Extension Agreement contained in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.
|Item 9.01||Financial Statements and Exhibits.|
NIOCORP DEVELOPMENTS LTD ExhibitEX-10.1 2 s109601_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 February 26,…To view the full exhibit click
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.