NioCorp Developments Ltd. Enters Material Agreement

TL;DR

NioCorp signed a big deal, expect financial moves.

AI Summary

On September 11, 2024, NioCorp Developments Ltd. entered into a material definitive agreement and created a direct financial obligation. The filing also includes financial statements and exhibits related to these events.

Why It Matters

This filing indicates NioCorp has entered into a significant agreement that likely involves financial commitments, which could impact its future operations and financial standing.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce financial risks and operational complexities for the company.

Key Players & Entities

• NioCorp Developments Ltd. (company) — Registrant
• September 11, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $2,000,000 — multiple draw credit facility of up to $2,000,000 (the "Loan"). The Loan is non-revolving
• $10,000 — ore the Due Date in a minimum amount of $10,000 and not cause the total principal advan
• $33,000 — e Smith Loan Agreement in the amount of $33,000. Item 9.01 Financial Statements and Ex

Filing Documents

• n2574_x218-8k.htm (8-K) — 37KB
• n2574_x218exh10-1.htm (EX-10.1) — 71KB
• n2574_x218exh10-2.htm (EX-10.2) — 107KB
• 0001539497-24-001909.txt ( ) — 469KB
• nb-20240911.xsd (EX-101.SCH) — 4KB
• nb-20240911_def.xml (EX-101.DEF) — 26KB
• nb-20240911_lab.xml (EX-101.LAB) — 36KB
• nb-20240911_pre.xml (EX-101.PRE) — 25KB
• n2574_x218-8k_htm.xml (XML) — 8KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On September 11, 2024, NioCorp Developments Ltd. (the "Company") and its Chief Executive Officer, Mark A. Smith, entered into a Loan Agreement (the "Smith Loan Agreement") pursuant to which Mr. Smith agreed to make available to the Company a non-revolving, multiple draw credit facility of up to $2,000,000 (the "Loan"). The Loan is non-revolving and amounts paid back under the terms of the Smith Loan Agreement do not again become available for drawdowns at the request of the Company. The Company will pay interest to Mr. Smith on amounts outstanding under the Loan and on any overdue interest at a rate equal to 10% per annum, calculated monthly in arrears, through to the date of repayment of the Loan. Interest on the Loan will be computed on the basis of a 360-day year comprised of twelve 30-day months. Mr. Smith will also receive an establishment fee (the "Establishment Fee") equal to 2.5% of the amount of any drawdown payable at the time of the drawdown as consideration of the advancement of such drawdown. Any outstanding balance on the Loan, including accrued interest, shall be immediately due and payable by the Company on the earlier of the date of expiration of the Smith Loan Agreement on June 30, 2025 and the occurrence of an Event of Default (as described below) (the "Due Date"). The Company can pre-pay the Loan at any time without notice and without penalty, but any amount of principal or interest repaid by the Company prior to the Due Date will be subject to an early payment fee of 2.5% of the value of any such payment. Drawdowns under the Smith Loan Agreement must be made on a business day before the Due Date in a minimum amount of $10,000 and not cause the total principal advanced and interest on all such principal to exceed $2,000,000. Prior to any drawdown, Mr. Smith must receive a written drawdown request, a fully-executed note in the amount of the drawdown (each a "Drawdown Note") and payment of

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Description 10.1 Loan Agreement, dated as of September 11, 2024, between NioCorp Developments Ltd. and Mark Smith. 10.2 Security Agreement, dated as of September 11, 2024, between NioCorp Developments Ltd. and Mark Smith. 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: September 11, 2024 By: /s/ Neal S. Shah Neal S. Shah Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR