01/06/2025 | Press release | Distributed by Public on 01/06/2025 15:01
Item 1.01 | Entry into a Material Definitive Agreement. |
On January 3, 2025, NioCorp Developments Ltd. ("NioCorp" or the "Company") entered into a consent and waiver (the "Consent") to the unsecured note (as previously modified, the "Note") issued and sold to YA II PN, Ltd. ("Yorkville") on April 12, 2024, pursuant to the securities purchase agreement (the "Purchase Agreement").
The Consent, among other things, defers the due date for the amounts that would otherwise have been due on January 1, 2025 to the maturity date and extends the maturity date of the Note to February 17, 2025, and prospectively waives any term of the Note that would otherwise be triggered upon a failure of the Company to pay the amounts due on January 1, 2025. Except as modified by the Consent, the terms of the Note as previously disclosed are unchanged.