NioCorp Clears Long-Term Debt with Completion of $8 Million Notes Payment

NioCorp Developments Ltd. has successfully cleared its balance sheet of all long-term debt following the completion of payments on its $8 million April 2024 notes. These unsecured notes, issued to investment funds managed by Yorkville Advisors Global, LP and The Lind Partners, LLC, have been fully satisfied. This step is crucial for NioCorp as it paves the way for securing project financing for its Elk Creek Critical Minerals Project in Nebraska, which aims to produce niobium, scandium, and potentially rare earth elements.

The payment marks a significant milestone for NioCorp, allowing the company to focus on obtaining necessary funds to commence construction at Elk Creek. Executive Chairman and CEO Mark A. Smith expressed confidence in moving forward with the project following the debt settlement. NioCorp's financial maneuver is seen as pivotal in its strategy to advance its critical minerals project.