RE:What will Niobf stock price be moving forward?chico237 wrote: Let's agree they receive the financing they need and the mine will be built 2018...
I don't think 3$ per share would be too low? What are your thoughts moving forward?
Chico
Don't know about the future whenever financing is secured.... But right now, the sp is tanking with the release of the FS that the market does not seem to like....
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AND the PP at $0.65....?!
. Niocorp Developments arranges $2-million placement
2017-07-04 05:29 MT - News Release
Mr. Mark Smith reports
NIOCORP ANNOUNCES C$2 MILLION BROKERED PRIVATE PLACEMENT OFFERING
Niocorp Developments Ltd. has entered into an agreement with Mackie Research Capital Corp. pursuant to which Mackie has agreed to sell, on a best-efforts agency basis, by way of private placement, up to 3,077,000 units of the company at a price of 65 cents per unit for gross proceeds to the company of up to $2,000,050. There is no minimum offering amount.
Each unit will consist of one common share of Niocorp and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of Niocorp at a price of 79 cents at any time prior to the date which is 48 months following completion of the offering.
The company has also granted the underwriter an option to increase the size of the offering by up to 15 per cent in units, by giving written notice of the exercise of the agent's option, or a part thereof, to the company at any time up to 48 hours prior to closing, which is anticipated to occur on or before the week of July 17, 2017, and is subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange, and other customary conditions.
As promptly as practicable following the closing, the company will prepare and file a registration statement and U.S. preliminary prospectus under the U.S. Securities Act of 1933, as amended, in respect of the common shares and warrant shares sold under the offering, provided that if the company has not caused the registration statement to be declared effective by the U.S. Securities and Exchange Commission at or before 5 p.m. Vancouver time on Nov. 17, 2017, then (a) each unit will thereafter entitle the holder to receive, for no additional consideration, an additional 10 per cent of the warrants underlying each unit, resulting in the issuance of 1.1 warrants (instead of one warrant), with each whole warrant being exercisable into one warrant share, subject to adjustment, on exercise of the warrants; and (b) each unexercised compensation option (as defined below) will thereafter entitle the holder to receive, upon the exercise thereof, for no additional consideration, an additional 10 per cent of the common shares otherwise issuable upon exercise of the compensation options, resulting in the issuance of 1.1 common shares issuable upon exercise of each compensation option, subject to adjustment.
The company has agreed to pay to Mackie a cash commission of 6.5 per cent of the aggregate gross proceeds arising from the offering, such commission also being applicable on gross proceeds arising from the exercise of the agent's option, where any such exercise occurs. In addition, at closing, and subject to regulatory approval (where any such approval is required), Mackie will receive options exercisable at any time up to 48 months following closing to purchase common shares in an amount equal to 6.5 per cent of the number of units issued pursuant to the offering (subject to adjustment taking into account any compensation penalty securities), including the amount subscribed for pursuant to the exercise of the agent's option, where any such exercise occurs. The compensation options shall be exercisable at the price of the units issued pursuant to the offering.
Separately, Niocorp and Mackie announced the termination of a previous agreement, announced on May 10, 2017, pursuant to which Mackie was to purchase, on a bought-deal short-form prospectus basis, 3,077,000 units of the company at a price of 65 cents per unit for gross proceeds to the company of up to $2,000,050. The parties mutually agreed to terminate that agreement as a final prospectus could not be receipted until the National Instrument 43-101 technical report detailing the results of the Elk Creek project feasibility study announced on June 30, 2017, was filed. The technical report is expected to be filed prior to Aug. 14, 2017.
A portion, or all of, the offering may be completed pursuant to B.C. Instrument 45-534 -- exemption from prospectus requirement for certain trades to existing security holders -- and in accordance with the provisions of various corresponding blanket orders and rules of other Canadian jurisdictions that have adopted the same or a similar exemption from prospectus requirement. Subject to applicable securities laws, the company will permit each person or company who holds common shares as of July 3, 2017, to subscribe for the units that will be distributed pursuant to the offering, provided that the existing security holder exemption is available to such purchaser. In addition to conducting the offering pursuant to the existing security holder exemption, the company will also accept subscriptions for units where other prospectus exemptions are available.
Subject to certain limitations discussed below, the offering is open to all existing shareholders of the company until July 11, 2017, other than shareholders located within the United States or who are, or who are acting for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended. Eligible shareholders of the company interested in participating in the offering should contact the company at Niocorp Developments, 7000 South Yosemite St., Suite 115, Centennial, Colo., 80112, Attn: Jim Sims, tel: 303-503-6203, no later than July 11, 2017, so that subscription materials can be provided for completion and return to the company no later than July 18, 2017.
Subscribers purchasing units under the existing security holder exemption will need to represent in writing that they meet certain requirements of the existing security holder exemption, including that they were, on or before the record date, a shareholder of the company (and still are a shareholder of the company). The aggregate acquisition cost to a subscriber under the existing security holder exemption cannot exceed $15,000 unless that subscriber has obtained advice regarding the suitability of the investment and, if the subscriber is resident in a jurisdiction of Canada, such advice is obtained from a person that is registered as an investment dealer in the subscriber's jurisdiction.
If the offering is oversubscribed, it is possible that a shareholder's subscription may not be accepted by the company even though it is received. Additionally, in the event of an imbalance of large subscriptions compared to smaller subscriptions, management of the company reserves the right in its discretion to reduce large subscriptions in favour of smaller shareholder subscriptions.
Proceeds of the offering will be used for general working capital purposes and to continue to advance the company's Elk Creek superalloy materials project.
All of the securities sold pursuant to the offering will be subject to a four-month hold period, which will expire four months and one day from the date of closing, as well as additional restrictions required by the 1933 act.
About Niocorp Developments Ltd.
Niocorp is developing a superalloy materials project in southeast Nebraska with an aim to produce niobium, scandium and titanium. Niobium is used to produce superalloys as well as high-strength, low-alloy 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, and is also 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, armour and medical implants.
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