NioCorp Developments Ltd. announced that it has expanded its existing non-revolving credit facility between the Company and its Executive Chairman, Mark Smith, to USD 2.5 million from the previous limit of USD 2 million. Funds drawn on the credit facility will assist the Company in continuing its work to secure project financing for the Elk Creek Project and move the project to a construction start. The credit facility bears an interest rate of 10%, is secured by the Company's assets pursuant to a general security agreement, and is subject to a 2.5% establishment fee. The amounts outstanding under the credit facility will become due June 16, 2020. The credit facility is subject to Toronto Stock Exchange approval and is a "related party transaction" under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Because the value of the credit facility is less than 25% of NioCorp's market capitalization, it is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.