NioCorp Developments Ltd. announced on November 3, 2024, the pricing of its underwritten public offering and a concurrent private placement. These offerings are expected to raise approximately $6.0 million in total gross proceeds.
The financing is designed to provide capital for NioCorp's operations and to support the continued development of its Elk Creek Critical Minerals Project. The company relies on external financing to fund its activities as it is a development-stage entity without operating revenues.
The pricing of these offerings sets the terms for the issuance of new common shares and warrants. While securing capital is essential for NioCorp's progress, the issuance of new equity and warrants will result in dilution for existing shareholders.
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