NioCorp Announces Sponsorship Agreement with Mackie Research Capital

NioCorp Developments Ltd. (TSXV:NB,OTCQX:NIOBF) announced that it has entered into a sponsorship agreement with Mackie Research Capital Corp. (MRCC) under which NioCorp will retain MRCC to provide strategic advice on several initiatives being analyzed by the company.

As quoted in the press release:

NioCorp has entered into a sponsorship agreement with MRCC, as the Company is exploring the option of listing its securities on a more senior North America stock exchange. In consideration for its sponsorship services, MRCC will be paid a cash fee and issued 250,000 non-transferable compensation options (the ‘Compensation Options’).  Each Compensation Option shall entitle MRCC to purchase a Unit at a price of $.60 per Unit.  Each Unit will consist of one Common Share and one Warrant.  Each Warrant will entitle MRCC to acquire one Warrant Share at a price of $.65 per Warrant Share for a period of 2 years from the date MRCC delivers its sponsorship report. There is no assurance that the Company meets the listing requirements of any senior exchange at this time.

Mark Smith, CEO of NioCorp, stated

We believe that the Company is at a stage where it requires greater exposure, and are considering strategic plans to achieve that goal. The Company recently published an updated resource estimate for our Elk Creek deposit, completed a $10,585,197 private placement and recently hired an in-house investor relations officer.   As we continue to rapidly develop the Elk Creek Niobium deposit, we hope to generate a greater investor interest in our story, and consequently analyst coverage, greater liquidity for our shareholders and capital raising ability for the Company. MRCC agrees with our near term strategic plans and we are excited to have them on board.

Click here to read NioCorp Developments Ltd. (TSXV:NB,OTCQX: NIOBF) press release.