NioCorp Developments Ltd. Enters Material Definitive Agreement

TL;DR

NioCorp signed a big deal on May 3rd, details TBD.

AI Summary

On May 3, 2024, NioCorp Developments Ltd. entered into a material definitive agreement. The company, previously known as Quantum Rare Earth Developments Corp., is incorporated in British Columbia, Canada, and its fiscal year ends on June 30. The filing does not provide specific details on the agreement or any associated dollar amounts.

Why It Matters

This filing indicates a significant new agreement for NioCorp, which could impact its future operations and financial standing in the metal mining sector.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement is a significant event that could carry substantial risks and rewards, but the lack of detail in this initial filing necessitates a medium risk assessment.

Key Players & Entities

• NioCorp Developments Ltd. (company) — Registrant
• Quantum Rare Earth Developments Corp. (company) — Former company name
• May 3, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $65,000,000 — ), with a maximum aggregate value up to $65,000,000 (the "Commitment Amount") for a period

Filing Documents

• n2574_x209-8k.htm (8-K) — 67KB
• exh10-1.htm (EX-10.1) — 37KB
• 0001539497-24-000948.txt ( ) — 351KB
• nb-20240503.xsd (EX-101.SCH) — 4KB
• nb-20240503_def.xml (EX-101.DEF) — 26KB
• nb-20240503_lab.xml (EX-101.LAB) — 36KB
• nb-20240503_pre.xml (EX-101.PRE) — 25KB
• n2574_x209-8k_htm.xml (XML) — 27KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. As previously disclosed, on January 26, 2023, NioCorp Developments Ltd. (the "Company") entered into a Standby Equity Purchase Agreement, by and between the Company and Yorkville (as defined below) (the "SEPA"), pursuant to which the Company obtained the right, but not the obligation, subject to certain limitations and conditions, to issue and sell to YA II PN, Ltd. ("Yorkville") common shares, without par value, of the Company ("Common Shares"), with a maximum aggregate value up to $65,000,000 (the "Commitment Amount") for a period commencing on March 17, 2023 and ending on the earliest of (i) April 1, 2026, (ii) the date on which Yorkville shall have made payment of the full Commitment Amount and (iii) the date that the SEPA otherwise terminates in accordance with its terms. On May 3, 2024, in connection with the delisting of the Common Shares from the Toronto Stock Exchange (the "TSX"), the Company and Yorkville entered into an amendment to the SEPA (the "Amendment") pursuant to which certain provisions of the SEPA relating to requirements of the TSX were deleted or revised. Additionally, the Amendment removed certain limitations on the number of advances the Company is permitted to effect. The above description of the Amendment is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is hereby incorporated by reference into this Item 1.01.

01

Item 9.01 Exhibits. (d) Exhibits Exhibit Description 10.1 Amendment No. 1 to Standby Equity Purchase Agreement, dated as of May 3, 2024, by and between NioCorp Developments Ltd. and YA II PN, Ltd. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NIOCORP DEVELOPMENTS LTD. DATE: May 3, 2024 By: /s/ Neal S. Shah Neal S. Shah Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR