NioCorp to combine with Nasdaq for Elk Creek minerals project
The Colorado based company of NioCorp and GX Acquisition Corp. announced the signing of a definitive business agreement for a proposed combination between the two companies.
By News Channel Nebraska
ELK CREEK - The Colorado based company of NioCorp and GX Acquisition Corp. announced the signing of a definitive business agreement for a proposed combination between the two companies.
Under the agreement, NioCorp will acquire GXII, a U.S.-based special purpose acquisition company, and intends to be listed on the Nasdaq stock exchange shortly after the acquisition closes in the first quarter of 2023. NioCorp shares will also be traded on the Toronto Stock Exchange with an estimated enterprise value of $313.5 million.
Assuming no redemptions by shareholders, NioCorp will have access to as much as $285 million to continue advancing the Elk Creek critical minerals project in southeast Nebraska.
The project has made significant advances in recent months.