10:35 AM EST, 11/13/2024 (MT Newswires) -- NioCorp Developments ( NB ) said Wednesday it closed a private placement of 2,199,602 units at $1.57 apiece for roughly $3.5 million in gross proceeds.

Certain company officers and directors subscribed for 239,999 units for gross proceeds of about $420,000, NioCorp said.

The company expects to use the net proceeds for working capital and general corporate purposes.

NioCorp shares were up 2% in recent trading.

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