NioCorp Commences Trading on the Toronto Stock Exchange
March 9, 2015 (Source: Marketwired) — NioCorp Developments Ltd. (“NioCorp” or the “Company“) (TSX:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to announce effective at market opening, March 9, 2015, the common shares of NioCorp commenced trading on the Toronto Stock Exchange (“TSX“). Shares of the company were delisted from the TSX Venture Exchange (“TSX.V“) effective at the close of trading March 6, 2015. The trading symbol on the TSX remains “NB”, and there is no change to the CUSIP number.
“This is a tremendous milestone for the Company and all our shareholders, as we continue to develop the underlying knowledge of our Elk Creek niobium, scandium and titanium deposit,” stated Mark Smith, CEO of NioCorp. “Graduating to the TSX, recognized as one of the premier exchanges for mining companies in the world, will allow NioCorp access to additional investors and institutional sources of capital to enhance our abilities to continue our aggressive development plans for Elk Creek as we work towards completion of our feasibility study this year.”
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In addition, the Company notes that CEO and Executive Chairman Mark Smith was announced as CEO of Largo Resources Ltd. effective April 1, 2015. The board of Directors of NioCorp are fully supportive of Mr. Smith, with complete confidence that this will not affect his abilities to carry out his duties with NioCorp. Joseph A. Carrabba, lead Director, provided the following comment, “Having seen the abilities and work capacity of Mark in his past positions with large mining companies, including Chevron Mining and Molycorp, the board felt very strongly that his abilities to simultaneously carry on all his duties for NioCorp would not be affected by his appointment to a position with Largo.”
About the Company: NioCorp is 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 is announcing an NI43-101 compliant resource with an effective date of February 20, 2015 reporting an Indicated Resource of 80.5 million tonnes grading 0.71% Nb2O5, 2.68% TiO2 and 72 ppm Sc and an Inferred Resource of 99.6 million tonnes grading 0.56% Nb2O5, 2.31% TiO2 and 63 ppm Sc (at a 0.3% Nb2O5 cutoff grade). Niobium is mainly used in the form of Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, which is a lighter, stronger steel used in automotive, structural and pipeline applications. The U.S. imports 100% of its niobium needs. Titanium in the form of an oxide is used extensively as a pigment in paints, plastics and papers. As a metal, titanium is used in aerospace applications, armor, chemical processing applications, marine hardware applications, medical implants, power generation and in sporting goods. Scandium is used in solid oxide fuel cells (SOFCs) and aluminum-scandium alloys, as well as in ceramics, electronics, lasers and lighting applications.
ON BEHALF OF THE BOARD
Peter Dickie, Director, President and Corporate Secretary
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.
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.
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