NioCorp Announces Board Update
July 28, 2014 (Source: Marketwired) — NioCorp Developments Ltd. (“NioCorp” or the “Company“) (TSX VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to announce the appointment of Mr. Michael Morris to the Company’s board of directors.
Mr. Morris is currently Chairman of the Board of Heritage Oaks Bankcorp (NASDAQ listed) where he has been serving as a Director since 2001. In addition, Mr. Morris is the senior principal and Chairman of the Board of Andre, Morris & Buttery, a professional law corporation. From 2000 to late 2006, Mr. Morris served on the board of Molycorp, Inc., which at the time was a wholly owned subsidiary of Unocal and then Chevron. Mr. Morris was the only independent director of Molycorp at that time.
“NioCorp is honored and privileged to have Mr. Morris as a new Director. His financial and legal background, coupled with his past mining company board tenure, will significantly add to the depth of experience and competencies our Board will need as we quickly move deeper into the development stage for our Elk Creek niobium project,” said Mark A. Smith, CEO of NioCorp.
“I am delighted to be joining the Board of NioCorp,” said Mr. Morris. “The Company has assembled a talented management team to lead it forward and achieve a strong position in the niobium market. It’s an honor to be a part of this endeavor.”
The Company also announces that Erin Chutter has left the Company’s board for personal reasons. Erin has been involved in the Company for many years, providing valuable guidance in the acquisition of the Elk Creek niobium project, and the Company wishes her well in her future ventures.
The Company also wishes to announce the granting of incentive stock options to its directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 2,300,000 common shares of the Company for a period of 3 years at a price of $0.65 per share.
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About the Company: NioCorp are developing the only primary niobium deposit known to be under development in the U.S., and the highest grade undeveloped niobium deposit in North America, located near Elk Creek, Nebraska. The Company has published an NI 43-101 resource of 19.3 Million tonnes grading 0.67% Indicated, containing over 129,182 tonnes of Nb2O5, and 83.3 Mt grading 0.63% Inferred, containing over 523,844 tonnes of Nb2O5). Niobium is mainly used in the form of Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, to produce lighter, stronger steel for use in automotive, structural and pipeline industries. The U.S. imports 100% of its niobium needs.
ON BEHALF OF THE BOARD
Peter Dickie, Director, President, Corporate Secretary
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release may constitute forward-looking statements. 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 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 labour 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; and the risks involved in the exploration, development and mining business. 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.