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NioCorp receives expression of interest from UK Export Finance

NioCorp (NB) Developments has received a preliminary, non-binding Expression of Interest from UKEF, for a potential debt guarantee of up to $200M to help finance construction of NioCorp’s proposed Elk Creek Critical Minerals Project. While only an EOI, any eventual loan guarantee from UKEF to NioCorp would be contingent upon NioCorp meeting certain conditions, including among other matters execution of an offtake agreement for one or more of NioCorp’s planned products to UK-based companies that in turn can be shown to support UK exports. NioCorp is engaged in discussions with UK-based exporters on the potential sale of scandium-based products from the Elk Creek Project. Any debt guarantee issued by UKEF would be coordinated with prospective debt financing from EXIM, and any prospective loan guarantee from the German Government’s Untied Loan Guarantee Loan Program, for which NioCorp has previously been deemed eligible to receive. UKEF’s engagement with the Elk Creek Project is at an early stage. The LOI is not a legally binding commitment and is subject to a series of standard project finance terms and due diligence as per UKEF policies.

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