NioCorp Announces Closing of $50.0 Million Registered Direct Offering of Common Shares

Rhea-AI Summary

NioCorp Developments (NASDAQ:NB) has successfully closed its previously announced registered direct offering, raising $50.0 million in gross proceeds. The offering consisted of 10,000,000 common shares priced at $5.00 per share.

The company plans to use the net proceeds for working capital and general corporate purposes, with a focus on advancing the construction and commercial operation of its Elk Creek Project. Maxim Group LLC served as the sole placement agent for the offering, which was conducted under an effective shelf registration statement on Form S-3.

Positive

• Raised $50.0 million in gross proceeds through equity offering
• Funds will support advancement of Elk Creek Project construction
• Successfully completed offering through established investment bank

Negative

• 10 million new shares issued will cause significant dilution for existing shareholders

Insights

Financial Analyst

NioCorp secured $50M in financing to advance its Elk Creek Project, strengthening its capital position for construction phase.

NioCorp has successfully closed its $50 million registered direct offering, selling 10 million common shares at $5.00 per share. This significant capital raise, conducted through Maxim Group LLC as the placement agent, substantially strengthens the company's financial position as it prepares to transition from development to construction of its flagship Elk Creek Project.

The timing of this offering is strategic, coming just months after the company filed its shelf registration (June 2024) and securing the capital before year-end. The $50 million infusion represents a substantial funding milestone that provides NioCorp with the working capital needed to advance the Elk Creek Project toward construction and eventual commercial operation.

What makes this particularly noteworthy is that Elk Creek represents one of North America's potential sources of critical minerals including niobium, scandium, and rare earth elements like neodymium, dysprosium, and terbium. These materials are essential components in numerous high-tech and clean energy applications, and developing domestic supply chains for these elements has become increasingly important from both economic and national security perspectives.

The successful completion of this offering demonstrates investor confidence in NioCorp's development plan and the long-term value proposition of the Elk Creek Project. By securing this funding through a registered direct offering rather than a more dilutive financing mechanism, management has shown financial discipline while still accessing the capital markets effectively.

CENTENNIAL, CO / ACCESS Newswire / September 19, 2025 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB) today announced the closing of its previously announced registered direct offering in the United States (the "Offering"). The Offering consisted of 10,000,000 common shares at an offering price of $5.00 per common share, for gross proceeds of approximately $50.0 million before deducting placement agent fees and offering expenses.

Maxim Group LLC acted as sole placement agent for the Offering.

NioCorp currently intends to use the net proceeds from the Offering for working capital and general corporate purposes, including to advance its efforts to launch construction of the Elk Creek Project and move it to commercial operation.

The Offering was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-280176), previously filed with the U.S. Securities and Exchange Commission (the "SEC") on June 13, 2024 and subsequently declared effective by the SEC on June 27, 2024. No securities were offered or sold to Canadian purchasers under the Offering.

A prospectus supplement and accompanying prospectus relating to the Offering and describing the terms thereof has been filed by the Company with the SEC and forms part of the effective registration statement and is available on the SEC's website at www.sec.gov and on the Company's profile on the SEDAR+ website at www.sedarplus.ca. Copies of the prospectus supplement and the accompanying prospectus may be obtained by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@maximgrp.com or by telephone at (212) 895-3745.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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FOR MORE INFORMATION:

Jim Sims, Corporate Communications Officer, NioCorp Developments Ltd., (720) 334-7066, jim.sims@niocorp.com

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing a critical minerals project in Southeast Nebraska that is expected to produce niobium, scandium, and titanium (the "Elk Creek Project"). The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense and civilian applications.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements may include, but are not limited to, statements regarding the intended use of the net proceeds from the Offering; the anticipated effect of the Offering on the performance of the Company; NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; the future price of metals; and the stability of the financial and capital markets. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the SEC and with the applicable Canadian securities regulatory authorities and the following: NioCorp's ability to use the net proceeds of the Offering in a manner that will increase the value of shareholders' investment; NioCorp's ability to operate as a going concern; NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full $10.0 million in reimbursement under the Project Sub-Agreement with Advanced Technology International, an entity acting on behalf of the Defense Industrial Base Consortium under the authority of the U.S. Department of Defense; NioCorp's ability to receive a final commitment of financing from the Export-Import Bank of the United States or other debt financing or financial support on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to access the full amount of the expected net proceeds under the standby equity purchase agreement with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP (the "Yorkville Equity Facility Financing Agreement"); NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness, if any, the Yorkville Equity Facility Financing Agreement or other agreements may impair NioCorp's ability to obtain additional financing, on acceptable terms, or at all; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the business combination with GX Acquisition Corp. II and other related transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships, including NioCorp's ability to negotiate extensions to existing agreements or to enter into new agreements, on favorable terms or at all; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining industry; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns, and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining, or development activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; potential future litigation; and NioCorp's lack of insurance covering all of NioCorp's operations

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

SOURCE: NioCorp Developments Ltd.

View the original press release on ACCESS Newswire

FAQ

How much did NioCorp (NASDAQ:NB) raise in its September 2025 offering?

NioCorp raised $50.0 million in gross proceeds through a registered direct offering of 10,000,000 common shares at $5.00 per share.

What is the price per share for NioCorp's September 2025 offering?

The offering price was set at $5.00 per common share.

How will NioCorp use the proceeds from its $50 million offering?

NioCorp intends to use the net proceeds for working capital and general corporate purposes, particularly to advance the construction and commercial operation of its Elk Creek Project.

Who was the placement agent for NioCorp's September 2025 offering?

Maxim Group LLC acted as the sole placement agent for the offering.

How many shares did NioCorp issue in its September 2025 offering?

NioCorp issued 10,000,000 common shares in the registered direct offering.