NioCorp closes First Tranche of Non-Brokered Private Placement
2017-02-17 15:21:19 【Print】
BEIJING (Asian Metal) 17 Feb 17 - On February 15, 2017, NioCorp Developments Ltd
Each Unit consists of one common share of the Company (a "Common Share") and one transferable Common Share purchase warrant (each whole such warrant a "Warrant"), with each Warrant entitling the holder thereof to acquire one additional Common Share at a price of C$0 . 85 until February 14, 2020.
John F . Ashburn, Jr . , the Company’s Vice President, General Counsel, and Corporate Secretary, subscribed for 112,226 Units under the First Tranche Closing . The subscription by Mr . Ashburn constitutes a related-party transaction under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) . Because the value of Mr . Ashburn’s subscription is less than 25% of NioCorp's market capitalization, it is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
. (“NioCorp”) announced the first tranche closing (the "First Tranche Closing") of its non-brokered private placement announced January 27, 2017 and February 10, 2017 . The First Tranche Closing consisted of the issuance of 3,860,800 units (each a “Unit”) at a price of C$0 . 70 per Unit, for gross proceeds of C$2,702,560.
99.5%min FOB China
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