NioCorp Developments Ltd. announced that it has entered into a binding subscription agreements with certain individual accredited investors, including certain officers and directors of the company to complete a non-brokered private placement of up to 336,185 units of the company at a price of $3.08 per unit for the aggregate gross proceeds of $1.03545 million on December 14, 2023. The Insider investors have agreed to subscribe at a price of $3.205 per unit, which price includes $0.125 per warrant underlying each Unit purchased by the Insider Investors and allows the Insider Investors to participate in the Private Placement in accordance with the rules of The Nasdaq Stock Market LLC. Each unit issuable under the Private Placement will consist of one common share in the capital of the company and one common share purchase warrant.

Each warrant will be exercisable into one common share at an exercise price of $3.54 per warrant share, for a period of 24 months following the closing date of the transaction. The transaction is expected to close on or about December 22, 2023, subject to the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange. All of the Securities issuable pursuant to the Private Placement will be subject to a hold period in accordance with applicable Canadian securities laws, which will expire four months and one day from the closing date.

The Units will be issued on a private offering basis pursuant to the exemption from the registration requirements of the Securities Act provided by Rule 506(b) of Regulation D thereunder and Section 4(a)(2) thereof, in each case, pursuant to the representations and covenants each of the investors made to the Company pursuant to the Subscription Agreements.