Niobium focused NioCorp (CVE:NB, OTCQX:NIOBF) is set to raise up to US$750,000 via a convertible note financing to use for general working capital, it said.
The mining firm will issue unsecured convertible promissory notes, which bear interest at 8%, payable annually and have a term of three years from the date of issue.
The notes are convertible and payable by NioCorp in company shares converted at C$0.97 per share, it said.
NioCorp's main focus is the Elk Creek project in southeast Nebraska and last month unveiled an updated preliminary economic assessment (PEA) for the property.
The study superseded a previous PEA put out by NioCorp earlier this year and incorporated several improvements to the company's plans for processing the niobium, scandium and titanium that will be produced at Elk Creek.