Business Context and Reporting Period
This Form 8-K is filed by NioCorp Developments Ltd., a British Columbia, Canada corporation, for the reporting period ending July 20, 2018. The filing addresses unregistered sales of equity securities pursuant to Item 3.02.
Key Financial Metrics
The filing does not provide standard financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on specific equity conversion transactions.
| Date | Principal Converted (USD) | Shares Issued | Conversion Price (CAD) |
|---|---|---|---|
| June 12, 2018 | $350,000 | 860,113 | C$0.52607 |
| July 13, 2018 | $300,000 | 749,007 | C$0.52904 |
| July 20, 2018 | $350,000 | 803,001 | C$0.57851 |
Material Changes
The material change reported is the issuance of 2,412,121 common shares to The Lind Partners (Lind) between June 12, 2018, and July 20, 2018. These shares were issued upon the voluntary conversion of $1,000,000 in principal amount of a Convertible Security originally entered into on December 14, 2015.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies. The transactions were executed under Section 3(a)(9) of the Securities Act of 1933 based on representations and warranties from Lind.
Investor Verification Checklist
- Verify the total number of shares outstanding post-conversion to assess dilution impact.
- Confirm the remaining principal balance of the Convertible Security with Lind.
- Review the original December 14, 2015, funding agreement for terms regarding future conversion rates or maturity.
- Check subsequent filings for any further conversions or changes in the relationship with The Lind Partners.