NioCorp Developments Ltd. (TSE:NB) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02
As previously disclosed, on March 27, 2018, NioCorp Developments Ltd. (the“Company”) provided notice to Lind Asset Management IV LLC (“Lind”) of its election to call an additional $1.0 million in funding (the“Convertible Security Increase”) to the definitive convertible security funding agreement, dated December 14, 2015, between the Company and Lind.
On April 5, 2018, in connection with the Convertible Security Increase, the Company issued 1,058,872 common share purchase warrants of the Company (the “Warrants”) to Lind, with each Warrant entitling the holder to acquire one common share of the Company at a price of C$0.72 per share until April 5, 2021. The Warrants were issued to the exemption from the registration requirements of the Securities Act of 1933 provided by Section 4(a)(2) thereof based upon representations and warranties of Lind in connection therewith.
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.