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NioCorp Proposes Share Issue To Raise Up To $5.13mln

|Includes: NioCorp Developments Ltd. (NIOBF)

NioCorp Developments (TSE:NB) is to raise up to $5.13mln through a non-brokered placement of shares.

The company intends to issue up to nine million units at a price of 57 cents per unit.

Each unit will comprise one common share and one transferable common share purchase warrant, with the latter exercisable at a price of 75 cents a share.

The news follows hot on the heels of Tuesday's announcement of a definitive convertible security funding agreement with an entity managed by The Lind Partners, a New York based asset management firm.

That arrangement will see US$11.5mln made available to NioCorp as it moves towards a bankable feasibility study for its Elk Creek project.