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| Home : NioCorp Developments Ltd. Completes Convertible Security Funding Agreement for Institutional Investment of up to US $10.5 Million |
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Dec 16
2015 |
NioCorp Developments Ltd. Completes Convertible Security Funding Agreement for Institutional Investment of up to US $10.5 Million |
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CENTENNIAL, COLORADO--(Marketwired - Dec. 15, 2015) - NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) announces today that it has completed and signed a definitive convertible security funding agreement (the "Agreement") with an entity managed by The Lind Partners, a New York based asset management firm (together, "Lind"). An initial US$4.5 million will be funded pursuant to the issuance of an initial convertible security ("Convertible Security"), which is expected to occur on or around December 24, 2015 (the "First Tranche"). US$1.5 million of the First Tranche will be held in escrow pending certain conditions required to be satisfied by December 31, 2015. Lind can increase the funding under the Convertible Security by an additional US$1.0 million during its two-year term. Further, provided certain conditions are met, the Company will have the right to call an additional US$ 1.0 million under the funding agreement. |
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| Source:http://www.marketwired.com/mw/release.do?id=2081937&sourceType=3 |
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