NioCorp Developments Ltd. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation
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| Item 1.01 | Entry into a Material Definitive Agreement.` |
On October 3, 2024, NioCorp Developments Ltd. (“NioCorp” or the “Company”) entered into (i) a consent and waiver (the “Yorkville Consent”) to the unsecured note (the “Yorkville Note”) issued and sold to YA II PN, Ltd. (“Yorkville”) on April 12, 2024 pursuant to the securities purchase agreement (the “Purchase Agreement”), by and among the Company, Yorkville and Lind Global Fund II LP (“Lind” and, together with Yorkville, the “Holders”) and (ii) a consent and waiver (together with the Yorkville Consent, the “Consents”) to the unsecured note (together with the Yorkville Note, the “Notes”) issued and sold to Lind on April 12, 2024 pursuant to the Purchase Agreement.
The Consents, among other things, reduce the amounts due to the Holders on October 1, 2024 by an aggregate of $1,176,476 to an aggregate of $335,524, increase the amounts due to the Holders on January 1, 2025 by an aggregate of $1,176,476, and prospectively waive any term of the Notes that would otherwise be triggered upon a failure of the Company to pay to the Holders the remainder of the amount due on October 1, 2024. The Consents also extend the maturity date of the Notes from December 31, 2024 to January 31, 2025. Except as modified by the Consents, the terms of the Notes as previously disclosed are unchanged.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NIOCORP DEVELOPMENTS LTD. | ||
| DATE: October 3, 2024 | By: | /s/ Neal S. Shah |
|
Neal S. Shah Chief Financial Officer | ||