NioCorp board member Michael Morris passes away

CENTENNIAL, CO - NioCorp Developments Ltd. (NASDAQ:NB), a mining company with a market capitalization of $1.48 billion and impressive year-to-date returns of 127.5%, announced Tuesday that Michael Morris, a member of its Board of Directors since July 2014, passed away on July 20, 2025.

Morris served as Lead Director on NioCorp’s Board and was a member of the Audit, Nomination and Corporate Governance, and Compensation and Organization committees.

"It is with a heavy heart that the entire NioCorp family mourns the passing of our friend and colleague Michael Morris," said Mark A. Smith, NioCorp’s Executive Chairman and CEO, in a press release statement.

The company has appointed Board Member Dean Kehler to serve on its Audit Committee, effective immediately.

NioCorp is developing the Elk Creek Project, which aims to produce niobium, scandium, and titanium. The company is also evaluating the potential to produce several rare earth elements from the project.

Morris joined the company’s board as an independent director and was involved in strategic planning and decision-making during his tenure.

In other recent news, NioCorp Developments Ltd. announced plans to accelerate activities at its Elk Creek Critical Minerals Project following successful fundraising efforts. The company raised approximately $60.7 million over the past three months, including $18.9 million from a public equity offering that closed in April 2025 and another $41.8 million from a public offering that closed in July 2024. Furthermore, NioCorp closed a public offering of 13,850,000 common shares at $3.25 per share, generating approximately $45 million in gross proceeds. Maxim Group LLC served as the sole placement agent for this offering. The funds are earmarked for advancing the construction of the Elk Creek Project, which aims to produce niobium, scandium, and titanium. The offering was conducted in the United States and jurisdictions outside Canada, with no securities sold to Canadian purchasers. The company has not disclosed any updates about the project’s timeline or potential future offerings. These developments indicate a focused effort by NioCorp to secure the necessary capital for its critical minerals project.

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