08:17 AM EST, 03/05/2024 (MT Newswires) -- NioCorp Developments NB.TO, NB) on Tuesday said it delivered written notice it will issue 82,500 shares under a standby equity purchase agreement with Yorkville Advisors Global LP.

The company, which is developing a critical minerals project in Nebraska, said the shares are priced at 97% of the daily volume-weighted average price on the Nasdaq exchange over three days prior to issue.

NioCorp has the right to issue up to US$65 million of shares to Yorkville over three years under a financing agreement reached in January, 2003.

NioCorp shares closed up C$0.10 to C$3.50 Monday on the Toronto Stock Exchange,