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NioCorp Explores Listing On More Senior North American Exchange Via Sponsorship Agreement With Mackie

|Includes: NioCorp Developments Ltd. (NIOBF)

NioCorp Developments (CVE:NB)(OTCQX:NIOBF) said Thursday it has agreed that Mackie Research Capital will provide strategic advice on several initiatives being considered by the company.

The niobium developer, which is advancing its Elk Creek deposit in Nebraska, said it has signed a sponsorship agreement with Mackie as it explores the option of listing its securities on a more senior North American stock exchange.

In consideration for its services, Mackie will be paid a cash fee of 250,000 compensation options, NioCorp said. Each option will allow Mackie to purchase a unit at a price of 60 cents apiece, with every unit made up of one common share and one warrant.

"We believe that the company is at a stage where it requires greater exposure, and are considering strategic plans to achieve that goal," said chief executive officer, Mark Smith.

"The company recently published an updated resource estimate for our Elk Creek deposit, completed a $10,585,197 private placement and recently hired an in-house investor relations officer. As we continue to rapidly develop the Elk Creek Niobium deposit, we hope to generate a greater investor interest in our story, and consequently analyst coverage, greater liquidity for our shareholders and capital raising ability for the company."

NioCorp, which just recently unveiled further high grade drilling results from its core project, just raised $10.6 million in a special warrant financing for continued infill drilling, pilot plant testing, and ultimately, the finalization of its full feasibility study for Elk Creek.

The property is the highest grade undeveloped niobium deposit in North America, discovered by Molycorp back in the late 1960s. Niobium is mainly used in the form of ferro-niobium to produce high strength, low alloy steel, for use in automotive, structural and pipeline applications, and demand is seen increasing as the U.S. currently imports 100% of its niobium needs.

The company also announced that it has amended the terms of its financial services advisory agreement with Mackie as initially announced last month, reducing the number of broker warrants to be paid from 1 million to 750,000.