NioCorp Engages J.P. Morgan to Assist with EXIM Financing of Elk Creek Critical Minerals Project

NioCorp Developments Ltd. (NASDAQ:NB), based in Centennial, Colorado, has announced that it has engaged JPMorgan Chase Bank, N.A. ("J.P. Morgan") to assist in securing debt financing for its Elk Creek Critical Minerals Project. The financing is expected to be supported by the Export-Import Bank of the U.S. ("EXIM").

In October 2023, NioCorp's application for project financing passed the first of EXIM’s Transaction Review Committee reviews. By April 2024, EXIM provided a preliminary indicative term sheet. While J.P. Morgan aids in advancing the financing process, the final loan application requires approval from EXIM's Board of Directors.

Mark A. Smith, CEO and Chairman of NioCorp, expressed optimism about this collaboration, noting J.P. Morgan's experience in crafting financing packages with EXIM to expedite the project's progress toward financing and construction.