NioCorp Directors and Officers Move to Acquire Common Shares of the Company through Option Exercises
CENTENNIAL, Colo., March 11, 2021 /PRNewswire/ -- NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX:NB) (OTCQX:NIOBF) announces a number of its directors and officers have exercised soon-to-expire share purchase options this week to acquire common shares of the Company at an exercise price of C$0.62. These directors and officers exercised options to acquire shares through "net settlement," and no shares were sold into the market by any director or officer in connection with the option exercises on March 10. Under a net settlement exercise of options, the Company cancels a requisite number of options previously granted to the director or officer in order to cover the cost of issuing the remainder of the shares to the director or officer. The table below summarizes the option exercises and net shares received by each of the directors and officers in connection with these transactions:
NioCorp Director/Officer | C$0.62 Share | Options Cancelled | Net Shares | Total Holdings |
Mark A Smith, CEO and Board Chair | 750,000 | 397,436 | 352,564 | 19,352,564 |
Michael Morris, Lead Director | 300,000 | 158,975 | 141,025 | 196,275 |
David Beling, Director | 300,000 | 158,975 | 141,025 | 491,025 |
John A. Ashburn, General Counsel | 350,000 | 185,471 | 164,529 | 926,755 |
Scott Honan, COO | 500,000 | 264,958 | 235,042 | 365,042 |
Neal Shah, CFO | 245,060 | 129,890 | 115,170 | 319,670 |
Jim Sims, VP External Affairs | 475,000 | 251,710 | 223,290 | 390,826 |
All securities transactions by NioCorp insiders are publicly reported in Canada on sedi.ca and in the U.S. at https://www.sec.gov/edgar/search-and-access.
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For More Information
Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 720-639-4650, [email protected]
About NioCorp
NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy ("HSLA") steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium also is a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.
SOURCE NioCorp Developments Ltd.
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