NioCorp announces revised annual meeting date and nomination deadlines

Published 01/14/2025, 05:18 AM
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CENTENNIAL, CO – NioCorp Developments (NASDAQ:NB) Ltd., a company specializing in metal mining, announced today the rescheduling of its annual general meeting of shareholders to March 20, 2025. The company, which has faced challenging market conditions with a -49.35% one-year return, currently maintains a WEAK financial health score according to InvestingPro analysis. With a current ratio of 0.15, the company's short-term obligations exceed its liquid assets, highlighting the importance of this upcoming shareholder meeting.

The meeting, originally slated for a date following the last annual general meeting held on January 19, 2024, will now take place at the company's headquarters in Centennial, Colorado.

The record date for shareholders eligible to receive notice and vote at the meeting is set for January 27, 2025. This change in scheduling triggers new deadlines for the submission of shareholder proposals and director nominations, as per the Securities Exchange Act of 1934 regulations.

Shareholder proposals intended for inclusion in the company's definitive management information and proxy circular must be submitted in writing by January 17, 2025. Proposals not meant for the proxy circular but still requiring company consideration must also be received by the same date. Any proposals received past this deadline may be subject to discretionary proxy voting by the company in accordance with SEC rules.

For shareholder nominations to be included in the proxy circular, the cut-off was October 18, 2024, three months prior to the anniversary of the last annual meeting. Nominations received after this date will not be included in the proxy circular. However, nominations for election to the board not intended for the proxy circular can still be submitted between January 14 and February 18, 2025.

Additionally, in line with the SEC's universal proxy rules, shareholders planning to solicit proxies for director nominees other than those proposed by the company must submit the required information by January 20, 2025.

The company's shares and warrants are traded on The Nasdaq Stock Market LLC under the symbols NB and NIOBW, respectively. Trading at $1.55, the stock sits between its 52-week range of $1.27 to $4.00, with analysts setting price targets between $3.25 and $4.00. InvestingPro subscribers can access additional insights, including 7 more key financial tips and detailed valuation metrics that could help inform investment decisions ahead of the company's next earnings release on February 13, 2025.

In other recent news, NioCorp Developments Ltd. has seen several significant developments. The company has successfully renegotiated the maturity date of its outstanding unsecured note with YA II PN, Ltd., also known as Yorkville, from January 1, 2025, to February 17, 2025. This extension provides NioCorp with additional time to meet its financial obligations. NioCorp has also secured a $2 million credit facility from its CEO, Mark A. Smith, providing an immediate boost to its financial position.

In other company news, NioCorp has made advancements in its Elk Creek Critical Minerals Project. The company has tested a new hydrometallurgical process developed by L3 Process Development for recycling post-consumer rare earth permanent magnets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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