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NioCorp shares rise as receives approval for early warrant exercise

NioCorp Developments Ltd shares rise after the company says it has received shareholder approval of the company's warrant incentive programme at its special meeting of shareholders

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Warrant programme gains traction with shareholders' approval

NioCorp Developments Ltd (TSE:NB) shares rose after the company said it had received shareholder approval of the company's warrant incentive programme at its special meeting of shareholders held on May 17.

NioCorp shares closed up 1.18% at C$0.85 on Tuesday.

The Toronto-listed firm is developing North America’s only niobium-scandium-titanium project in Nebraska, USA.

Of shares voted, 97.72% voted in favour of the programme, with 2.28% opposed and no shares withheld or abstained.

The company has also received conditional approval from the Toronto Stock Exchange to proceed with the warrant incentive program, which will begin on May 18, and runs through June 17.

The early warrant exercise programme is designed to encourage the early exercise of (unlisted) share purchase warrants exercisable at 65 cents that otherwise expire on Nov. 10.

An estimated 10,900,256 share purchase warrants are available to be exercised during the early exercise period under the program. Proceeds from the program will be used to finance the company's continuing work to complete its Elk Creek superalloy materials project feasibility study and for working capital needs.

Quick facts: NioCorp Developments Ltd.

Price: 0.92 CAD

TSX:NB
Market: TSX
Market Cap: $216.15 m
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