07:23 AM EDT, 03/12/2024 (MT Newswires) -- NioCorp Developments Ltd. ( NB ) said that it has delivered a written notice pursuant to the previously announced Standby Equity Purchase Agreement, dated January 26, 2023, requesting the purchase of 85,000 share of the company's common shares, without par value.

The company has elected an Option 2 Pricing Period (as defined in the Standby Equity Purchase Agreement). The advance shares will be issued at a purchase price equal to 97% of the daily volume-weighted average price of the common shares on The Nasdaq Stock Market LLC as reported on Bloomberg Financial Markets during a pricing period of three consecutive trading days commencing on the date hereof.

The company expects the sale of the advance shares will close on or about March 14, 2024.