CENTENNIAL, Colo. , Jan. 24, 2018 (GLOBE NEWSWIRE) -- NioCorp Developments Ltd. (“NioCorp” or the "Company”) (TSX:NB) (OTCQX:NIOBF) (FSE:BR3) is pleased to announce that an entity managed by The Lind Partners, a New York-based asset management firm (together, “Lind”), will invest an additional US$2.5 million in the form of a convertible security (the “Convertible Security”) under the second and final tranche (the “Second Tranche”) of the convertible security funding agreement between NioCorp and Lind dated December 14, 2015, as amended (the "Agreement"). In addition, NioCorp has received conditional approval from the Toronto Stock Exchange for certain amendments to the Agreement, which, among other things, provide for additional funding of up to US$2 million as part of the Second Tranche, subject to certain conditions, for total gross proceeds to the Company of up to US$4.5 million.
About NioCorp
NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium also is a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.
