ON December 22, 2023 NioCorp Developments Ltd. closed the transaction. The company issued an aggregate of 413,432 units of the company in which 274,587 units are issued at an issue price of $3.08 per unit for gross proceeds of 845,727.96 and certain Insider Investors subscribed for an aggregate of 138,845 Units at an issue price of $3.25 for gross proceeds of $445,000 resulting an aggregate gross proceeds of $1,290,727.96. Each Unit issued under the Private Placement consists of one common share in the capital of the Company and one Common Share purchase warrant.

Each Warrant is exercisable into one Common Share at an exercise price of $3.54 per Warrant Share until December 22, 2025.