NioCorp Directors and Officers Move to Acquire Common Shares of the Company through Option Exercises

Rhea-AI Summary

NioCorp Developments Ltd. (NIOBF) announced that several directors and officers exercised share purchase options at a price of C$0.62. The transactions occurred on March 10, 2021, through a net settlement method, ensuring no shares were sold into the market. Key figures include CEO Mark A. Smith acquiring 352,564 net shares, increasing his total holdings to 19,352,564. Other executives also participated, with collective exercises not impacting market availability. These actions reflect a commitment by management to the company's future.

Positive

• Directors and officers showing confidence by exercising share options
• CEO Mark A. Smith significantly increasing his shareholdings to 19,352,564

Negative

• None.

CENTENNIAL, Colo., March 11, 2021 /PRNewswire/ -- NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX:NB) (OTCQX:NIOBF) announces a number of its directors and officers have exercised soon-to-expire share purchase options this week to acquire common shares of the Company at an exercise price of C$0.62.  These directors and officers exercised options to acquire shares through "net settlement," and no shares were sold into the market by any director or officer in connection with the option exercises on March 10. Under a net settlement exercise of options, the Company cancels a requisite number of options previously granted to the director or officer in order to cover the cost of issuing the remainder of the shares to the director or officer. The table below summarizes the option exercises and net shares received by each of the directors and officers in connection with these transactions:

NioCorp Director/Officer	C$0.62 Share Options Exercised	Options Cancelled Through Net Settlement Exercise	Net Shares Received	Total Holdings After Options Exercise
Mark A Smith, CEO and Board Chair	750,000	397,436	352,564	19,352,564
Michael Morris, Lead Director	300,000	158,975	141,025	196,275
David Beling, Director	300,000	158,975	141,025	491,025
John A. Ashburn, General Counsel	350,000	185,471	164,529	926,755
Scott Honan, COO	500,000	264,958	235,042	365,042
Neal Shah, CFO	245,060	129,890	115,170	319,670
Jim Sims, VP External Affairs	475,000	251,710	223,290	390,826

All securities transactions by NioCorp insiders are publicly reported in Canada on sedi.ca and in the U.S. at https://www.sec.gov/edgar/search-and-access. 

@NioCorp $NB $NIOBF #Niobium #Scandium #ElkCreek

For More Information
Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 720-639-4650, jim.sims@niocorp.com

About NioCorp

NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy ("HSLA") steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications.  Scandium is a superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance.  Scandium also is a critical component of advanced solid oxide fuel cells.  Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.

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SOURCE NioCorp Developments Ltd.

FAQ

What share price did NioCorp's directors and officers exercise their options at?

NioCorp's directors and officers exercised their options at a price of C$0.62.

On what date did the share option exercises occur?

The share option exercises occurred on March 10, 2021.

How many net shares did the CEO of NioCorp acquire through option exercises?

CEO Mark A. Smith acquired 352,564 net shares through option exercises.

Did any directors or officers sell shares into the market during the option exercises?

No shares were sold into the market by any director or officer during the option exercises.

What is the significance of net settlement in NioCorp's share option exercise?

Net settlement allows the company to cancel a portion of options to cover the cost of issuing the remaining shares, minimizing market impact.