NioCorp Developments Ltd announced it has entered into purchase agreement to issue unsecured convertible notes and warrants to purchase up to 615,385 common shares, notes are issued for a principal amount of $8,000,000 representing discount of 13% for a gross proceeds $6,960,000 on April 11, 2024. The transaction include participation from returning investor, YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP. The Notes are the unsecured obligations of company and will mature on December 31, 2024.

The Notes will incur a simple interest rate obligation of 0.0% per annum (which will increase to 18% per annum upon the occurrence of an event of default). The outstanding principal amount of, accrued and unpaid interest, if any, on, and Payment Premium, if any, on the Notes must be paid by company in cash when the same becomes due and payable under the terms of the Notes at their stated maturity, upon their redemption or otherwise. Notes will be entitled to convert the principal amount of, accrued and unpaid interest, if any, and any Payment Premium that has become due and payable on each Note, from time to time over their term, into a number of Common Shares equal to the quotient of the amount being converted divided by a fixed conversion price of $2.75 per Common Share up to a maximum of 3,141,817 Common Shares.

The transaction is subject to approval from stock exchange.