NioCorp Developments Ltd. announced on November 13, 2024, the closing of its previously announced non-brokered private placement. The placement generated aggregate gross proceeds of approximately $3.5 million.
The private placement consisted of 2,199,602 units of the company, with each unit priced at $1.57. Notably, certain NioCorp officers and directors participated in this offering, subscribing for approximately $0.42 million.
This capital infusion provides NioCorp with additional financial resources to continue advancing its Elk Creek Critical Minerals Project and cover general corporate expenses. While beneficial for liquidity, the issuance of new units contributes to the overall dilution of existing shareholders.
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