EDITOR: | October 22nd, 2015

NioCorp Closes Convertible Note Financing

| October 22, 2015 | No Comments

NioCorp-Developments-200x125October 22, 2015 (Source: Marketwired) — NioCorp Developments Ltd. (“NioCorp” or the “Company“) (TSX:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) announces that it has closed its non-brokered private placement of unsecured convertible promissory notes (the “Notes“), announced September 16, 2015, for gross proceeds of USD$800,000 (the “Private Placement“). The Private Placement was oversubscribed, and accordingly was increased from the previously announced maximum of USD$750,000 to USD$800,000.

The Notes will bear interest at a rate of 8%, payable quarterly in arrears, are non-transferable and have a term of three years from the date of issue. Principal under the Notes is repayable by the Company in cash or common shares of the Company at a conversion price of CAD$0.97 per common share, calculated on conversion or repayment using the then-current Bank of Canada noon exchange rate. Accrued but unpaid interest on the Notes will be payable by the Company in cash or common shares at a price per common share equal to the most recent closing price of the Company’s common shares prior to the delivery to the Company of a request to convert interest, or the due date of interest, as applicable, calculated using the then-current Bank of Canada noon exchange rate. Repayment of any amount of interest by way of common share issuance will be subject to further Toronto Stock Exchange approval.

All securities issued under the Private Placement will be subject to a four-month hold period. The Company expects to use the proceeds of the Private Placement for general working capital purposes.

About the Company:

NioCorp is developing the Elk Creek Niobium / Scandium / Titanium project in Southeast Nebraska. Niobium is used to produce High Strength, Low Alloy (“HSLA”) steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium can be combined with Aluminum to make an alloy with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.

Cautionary 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 release.


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