NioCorp Developments Ltd. Enters Material Agreement

TL;DR

NioCorp just signed a big deal, creating new financial obligations.

AI Summary

On September 4, 2024, NioCorp Developments Ltd. entered into a material definitive agreement and created a direct financial obligation. The company, formerly known as Quantum Rare Earth Developments Corp., is incorporated in British Columbia, Canada, and its principal executive offices are located in Centennial, Colorado.

Why It Matters

This filing indicates NioCorp Developments Ltd. has entered into a significant agreement, which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to the terms of the agreement and the company's ability to meet them.

Key Players & Entities

• NioCorp Developments Ltd. (company) — Registrant
• Quantum Rare Earth Developments Corp. (company) — Former company name
• September 4, 2024 (date) — Date of earliest event reported
• Centennial, Colorado (location) — Business address city and state

FAQ

Key Financial Figures

• $1,176,476 — on September 1, 2024 by an aggregate of $1,176,476 to an aggregate of $335,524, increase t
• $335,524 — regate of $1,176,476 to an aggregate of $335,524, increase the amounts due to the Holder

Filing Documents

• n2574_x217-8k.htm (8-K) — 29KB
• 0001539497-24-001847.txt ( ) — 244KB
• nb-20240904.xsd (EX-101.SCH) — 4KB
• nb-20240904_def.xml (EX-101.DEF) — 26KB
• nb-20240904_lab.xml (EX-101.LAB) — 36KB
• nb-20240904_pre.xml (EX-101.PRE) — 25KB
• n2574_x217-8k_htm.xml (XML) — 8KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On September 4, 2024, NioCorp Developments Ltd. ("NioCorp" or the "Company") entered into (i) a consent and waiver (the "Yorkville Consent") to the unsecured note (the "Yorkville Note") issued and sold to YA II PN, Ltd. ("Yorkville") on April 12, 2024 pursuant to the securities purchase agreement (the "Purchase Agreement"), by and among the Company, Yorkville and Lind Global Fund II LP ("Lind" and, together with Yorkville, the "Holders") and (ii) a consent and waiver (together with the Yorkville Consent, the "Consents") to the unsecured note (together with the Yorkville Note, the "Notes") issued and sold to Lind on April 12, 2024 pursuant to the Purchase Agreement. The Consents, among other things, reduce the amounts due to the Holders on September 1, 2024 by an aggregate of $1,176,476 to an aggregate of $335,524, increase the amounts due to the Holders on December 1, 2024 by an aggregate of $1,176,476, and prospectively waive any term of the Notes that would otherwise be triggered upon a failure of the Company to pay to the Holders the remainder of the amount due on September 1, 2024. Except as modified by the Consents, the terms of the Notes as previously disclosed are unchanged.

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

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: September 4, 2024 By: /s/ Neal S. Shah Neal S. Shah Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR