CENTENARY, Col., December 13, 2021 / PRNewswire / – NioCorp Developments Ltd. (“NioCorp“or the”Society“) (TSX: NB; OTCQX: NIOBF) is pleased to announce an agreement with the CEO and Executive Chairman of NioCorp, Mark A. Smith, to extend the expiry date of its $ 3.5 million non-revolving credit facility with Mr. Smith for June 30, 2022.
The Credit Facility Extension Agreement is subject to the approval of the Toronto Stock Exchange and constitutes a ârelated party transactionâ under Multilateral Instrument 61-101 on the Protection of Minority Holders of Securities in Transactions. special (“MI 61-101”). Since the value of the credit facility is less than 25% of NioCorp’s market capitalization, the credit facility extension agreement is exempt from the formal assessment and minority shareholder approval requirements of MI 61-101.
NioCorp $ NB $ NIOBF #Niobium #Scandium #ElkCreek #MarkSmith
For more information
Contact Jim sims, Vice President of External Affairs, NioCorp Developments Ltd., 303-503-6203, [email protected]
NioCorp is developing a superalloy materials project in Southeastern Nebraska which will produce Niobium, Scandium and Titanium. The Company is also evaluating the production potential of several rare earth by-products from the project. Niobium is used to produce superalloys as well as high strength and low alloy steel (“HSLA”), which is a lighter, stronger steel used in automotive, structural and pipeline applications. Scandium is a superalloy material that can be combined with aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also an essential component of advanced solid oxide fuel cells. Titanium is used in various superalloys and is a key component of pigments used in paper, paint, and plastics and is also used in aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium and dysprosium, are essential in the manufacture of neodymium-iron-boron (“NdFeB”) magnets, which are used in a wide variety of civil and commercial applications. defense.
Caution regarding forward-looking statements
Neither the 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 material. Certain statements contained in this document may constitute forward-looking statements, including, but not limited to, statements relating to the company’s ability to produce niobium, scandium, titanium and rare earth products at the Elk Project. Creek Superalloy Materials. These forward-looking statements are based on NioCorp’s reasonable expectations and business plan as of the date hereof, which are subject to change based on economic, political and competitive circumstances and eventualities. Readers are cautioned that these forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause these assumptions to change and that actual results and estimates differ materially from the estimated or anticipated future results, achievements or positions expressed. or implied by these forward-looking statements. Risks, uncertainties and other factors that could result in a change in NioCorp’s plans or outlook include risks related to NioCorp’s ability to continue as a business; risks associated with NioCorp’s requirement for significant additional capital; changes in the demand 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 work results differ from projections / expectations or do not realize the perceived potential of NioCorp projects; the risks of accidents, equipment failures and labor disputes or other unforeseen difficulties or interruptions; the possibility of cost overruns or unforeseen expenses in development programs; operating or technical difficulties related to exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of declining reserve and resource levels; the risks associated with exploration, development and mining activities, and the risks set out in documents filed by the Company with the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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SOURCE NioCorp Developments Ltd.