NioCorp Receives Receipt for Final Short Form Prospectus
January 15, 2015 (Source: Marketwired) — NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
NioCorp Developments Ltd. (“NioCorp” or the “Company“) (TSX VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to announce that it has filed and obtained a receipt (the “Receipt“) from the British Columbia Securities Commission for a Final Short Form Prospectus dated January 14, 2015. The receipt also evidences that the Ontario Securities Commission has received the filing, as well as regulators in Alberta and New Brunswick under Multilateral Instrument 11-102 Passport System.
The prospectus qualifies the distribution of 19,245,813 units (the “Units“) of the Company issuable upon the deemed exercise of 19,245,813 previously issued special warrants (the “Special Warrants“). Each Unit consists of one common share (each, a “Common Share“) and one common share purchase warrant (each a “Warrant“) of the Company. Each Warrant entitles the holder to acquire one Common Share at a price of $0.65 each until November 10, 2016.
Pursuant to the terms of the Special Warrants, the Special Warrants will be deemed to be exercised on Monday, January 19, 2015.
About the Company:
NioCorp is developing the only primary niobium deposit known to be under development in the United States, and the highest grade undeveloped niobium deposit in North America, located near Elk Creek, Nebraska. The Company has filed an updated NI43-101 compliant resource report, available on SEDAR, reporting an Indicated resource of 28.2 million tonnes grading 0.63% Nb2O5, containing 177 million kgs of Nb2O5, and an Inferred resource of 132.8 million tonnes grading 0.55% Nb2O5, containing 733.7 million kgs of Nb2O5, (at a 0.3% Nb2O5 cutoff grade). Niobium is mainly used in the form of ferroniobium 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.
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ON BEHALF OF THE BOARD
Peter Dickie, Director, President and 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.
This press release is not for distribution or dissemination in the United States and accordingly, shall not constitute an offer of securities in the United States. The securities that may be issued pursuant to this press release are not currently qualified by prospectus or registered under the U.S. Securities Act of 1933, as amended (the “Securities Act“), or the laws of any state, and may not be offered or sold in the United States, or to, or for the account or benefit of United States persons (as defined in Regulation S under the Securities Act) or persons in the United States absent registration or an applicable exemption from the registration requirements. The securities are subject to resale restrictions under applicable securities laws.
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