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NioCorp Developments Ltd Appoints Mr. Mark A. Smith As Chief Executive Officer And Director; Announces Private Placement Of Common Shares


Monday, 23 Sep 2013 10:44am EDT 

NioCorp Developments Ltd announced that it has appointed Mr. Mark A. Smith as Chief Executive Officer and a director of the Company. The Company also announced that it has arranged a brokered private placement of up to 66,666,666 common shares at a price of $0.15 per Share to raise gross proceeds of up to $10,000,000. The proceeds will be used to conduct further exploration and development of its Elk Creek Carbonatite property and for general working capital. The Company will pay a cash commission equal to 7% of the gross proceeds raised in the Private Placement. The Company intends to accept subscriptions from US residents in accordance with exemptions from registration under applicable U.S. securities laws, and in Canada pursuant to applicable exemptions. 

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