NioCorp Developments Ltd. announced on November 5, 2024, the closing of its underwritten public offering, which generated approximately $2.5 million in gross proceeds. This offering was the first of two concurrent financings aimed at raising a total of approximately $6.0 million.
The Registered Offering included 1,592,356 common shares, 1,592,356 Series A warrants, and 796,178 Series B warrants. Each common share was sold with one Series A Warrant and one-half Series B Warrant at a combined public offering price of $1.57.
NioCorp intends to use the net proceeds for working capital, general corporate purposes, and to advance its Elk Creek Critical Minerals Project towards commercial operation. A portion of the proceeds will also be used to repay the $2.0 million outstanding under the Smith Credit Facility, improving the company's balance sheet.
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