Vancouver, British Columbia – December 15, 2014 – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX-V: NB, OTCQX: NIOBF, FSE: BR3) is pleased to announce results of the 2014 Annual General Meeting.
The Company announces that all resolutions tabled at its Annual General and Special Meeting held on December 15, 2014, were passed. The resolutions included:
– Election of Mark Smith, Peter Dickie, Michael Morris, David Beling, Joe D. Cecil, and Tony Fulton as directors;
– Appointment of auditor and authorization of the directors to fix the auditor’s remuneration;
– Adoption of a 2014 Stock Option Plan;
– Adoption of an amendment to the Company’s Articles.
The Articles have been amended to incorporate advance notice provisions with respect to election of directors (the “Advance Notice Provisions”). The Advance Notice Provisions will ensure an orderly nomination process of directors, ensure that shareholders are well-informed about the identity, intentions and credentials of director nominees and ensure that shareholders vote in an informed manner after having been afforded reasonable time for appropriate deliberation. The amendment to the Articles is available on SEDAR under the Company’s profile.
At the meeting, all matters proposed under the notice were passed with overwhelming support from shareholders. At a subsequent directors meeting, the following positions and committee memberships were determined:
Mark Smith was re-appointed Chief Executive Officer, and Executive Chairman, Peter Dickie was re-appointed President and Corporate Secretary. It was determined that the growth of the Company warranted a re-structuring and increase in committees going forward, with the following appointments made:
Joe Cecil and Michael Morris were appointed co-chairs of the Audit committee. Joe Carrabba was appointed chair of the Compensation committee. Tony Fulton was named chair of the Corporate Responsibility committee.
About the Company: NioCorp are developing the only primary niobium deposit known to be under development in the U.S., and the highest grade undeveloped niobium deposit in North America, located near Elk Creek, Nebraska. The Company has filed an NI43-101 compliant resource report, available on SEDAR, reporting an Indicated resource of 28.2 Million Tonnes grading 0.63% Nb2O5, containing 177 Million Kg’s of Nb2O5, and an Inferred resource of 132.8 Million Tonnes grading 0.55% Nb2O5, containing 733.7 Million Kg’s of Nb2O5, (at a 0.3% Nb2O5 cutoff grade). Niobium is mainly used in the form of Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, to produce lighter, stronger steel for use in automotive, structural and pipeline industries. The U.S. imports 100% of its niobium needs.
For further information, contact Julie Champlin, Investor Relations Manager at (720) 639-4650 or at [email protected].
ON BEHALF OF THE BOARD
“Peter Dickie”
Director, President and Corporate Secretary
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.