NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB) today announced it has commenced a proposed underwritten public offering in the United States (the "Registered Offering"). Concurrently, the Company has also commenced a private placement (the "Private Offering" and, together with the Registered Offering, the "Offerings").

The Registered Offering consists of common shares and warrants to purchase common shares and is subject to market conditions. There can be no assurance as to whether or when the Registered Offering may be completed, or as to the actual size, pricing or other terms of the Registered Offering. In addition, the Company intends to grant the underwriter a 45-day over-allotment option to purchase up to an additional 15 percent of the number of initial common shares and/or an additional 15 percent of the number of initial warrants offered in the Registered Offering.

The Private Offering consists of common shares and warrants to purchase common shares. There can be no assurance as to whether or when the Private Offering may be completed, or as to the actual size, pricing or other terms of the Private Offering. Completion of the Private Offering is not contingent on completion of the Registered Offering and completion of the Registered Offering is not contingent on the completion of the Private Offering.

Maxim Group LLC is acting as sole book-running manager and underwriter for the Registered Offering.

NioCorp currently intends to use the net proceeds from the Offerings for working capital and general corporate purposes, including to (i) advance its efforts to launch construction of a critical minerals project in Southeast Nebraska (the "Elk Creek Project") and move it to commercial operation and (ii) repay all amounts outstanding under the Company's $2.0 million non-revolving multiple draw credit facility (the "Smith Credit Facility") available pursuant to the Loan Agreement, dated September 11, 2024, by and between the Company and its Chief Executive Officer, President and Executive Chairman, Mark Smith. The Smith Credit Facility will continue to be available to the Company following the close of the Offerings.

The Registered Offering is subject to customary closing conditions.