NioCorp CEO Provides Working Capital Through $2 Million Credit Facility

NioCorp Developments Ltd. ("NioCorp") has announced the establishment of a $2 million non-revolving credit facility by CEO and Executive Chairman Mark A. Smith. This move aims to support the company's efforts to secure project financing for its critical minerals project in Southeast Nebraska, known as the Elk Creek Project, and for general corporate purposes.

The credit facility bears an annual interest rate of 10%, with a 2.5% establishment fee for any drawdown and a 2.5% prepayment fee. It is secured by all of NioCorp's assets and is due for repayment by June 30, 2025.

Michael J. Morris, Lead Independent Director of NioCorp's Board, expressed gratitude for Smith’s continued support, highlighting the CEO's commitment to the company's long-term success.

This transaction is classified as a "related party transaction" but is exempt from formal valuation and minority shareholder approval due to its value being less than 25% of NioCorp's market capitalization. The Board and Audit Committee reviewed and approved the terms of this transaction.