# EDGAR Filing Document

**Accession Number:** 0001512228
**File Stem:** 0001539497-23-000469
**Filing Date:** 2023-3
**Character Count:** 9596
**Document Hash:** 3d3560780a86ffb1927334d917eb6f25
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-23-000469.hdr.sgml**: 20230321

**ACCESSION NUMBER**: 0001539497-23-000469

**CONFORMED SUBMISSION TYPE**: 3

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230317

**FILED AS OF DATE**: 20230321

**DATE AS OF CHANGE**: 20230321

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Maselli Michael G
- **CENTRAL INDEX KEY:** 0001756005

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41655
- **FILM NUMBER:** 23750820

**MAIL ADDRESS:**
- **STREET 1:** 1325 AVENUE OF THE AMERICAS, 25TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Maseli Michael G.
- **DATE OF NAME CHANGE:** 20181015
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NIOCORP DEVELOPMENTS LTD
- **CENTRAL INDEX KEY:** 0001512228
- **STANDARD INDUSTRIAL CLASSIFICATION:** METAL MINING [1000]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 0630

**BUSINESS ADDRESS:**
- **STREET 1:** 7000 S. YOSEMITE STREET
- **STREET 2:** STE. 115
- **CITY:** CENTENNIAL
- **STATE:** CO
- **ZIP:** 80112
- **BUSINESS PHONE:** 720-639-4647

**MAIL ADDRESS:**
- **STREET 1:** 7000 S. YOSEMITE STREET
- **STREET 2:** STE. 115
- **CITY:** CENTENNIAL
- **STATE:** CO
- **ZIP:** 80112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** QUANTUM RARE EARTH DEVELOPMENTS CORP.
- **DATE OF NAME CHANGE:** 20110204

## Exhibit 24.1

**Exhibit 24.1**

**POWER OF ATTORNEY**

**KNOW ALL MEN BY THESE PRESENTS,** that the undersigned, hereby constitutes and appoints each of Mark A. Smith and Neal Shah, signing singly and with full power of substitution and resubstitution, the undersigned's true and lawful attorney-in-fact to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) execute for and on behalf of the undersigned, in the undersigned's capacity as an executive officer or director of NioCorp Developments Ltd. (the "Company"), Forms 3, 4 and 5, including any amendments thereto, in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules and regulations thereunder (the "Exchange Act");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form 3, 4 or 5, including any amendments thereto, and timely file such form with the United States Securities and Exchange Commission and any stock exchange or similar authority; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interests of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact's discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4 and 5 with respect to the undersigned's holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.

**IN WITNESS WHEREOF**, the undersigned has caused this Power of Attorney to be executed as of this 17<sup>th</sup> day of March, 2023.

<u>/s/ Michael G. Maselli</u> <br> Michael G. Maselli

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 3

### INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Maselli Michael G<br><sub>(Last) (First) (Middle)</sub><br>C/O NIOCORP DEVELOPMENTS LTD.<br>7000 YOSEMITE STREET, SUITE 115<br><sub>(Street)</sub><br>CENTENNIAL, CO 80112<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>NIOCORP DEVELOPMENTS LTD [ NB ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2023-03-17 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director   [ ] 10% Owner<br>[ ] Officer (give title below)   [ ] Other (specify below)<br>_ _ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities Beneficially Owned

---

|  |  |  |  |
| --- | --- | --- | --- |
| 1. Title of Security | 2. Amount of Securities Beneficially Owned | 3. Ownership Form | 4. Nature of Indirect Beneficial Ownership |

---

## Table II - Derivative Securities Beneficially Owned

---

|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Underlying Securities | 3. Title and Amount of Underlying Securities | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| Class B Common Stock of Elk Creek Resources Corp.<sup>(1)</sup> | <sup>(2)</sup> | <sup>(2)</sup> | Common Shares | 563081<sup>(3)</sup> | <sup>(2)</sup> | D |  |
| Warrants<sup>(1)</sup> | <sup>(4)</sup> | <sup>(4)</sup> | Common Shares | 215150<sup>(5)</sup> | 10.284<sup>(5)</sup> | D |  |

---

### Footnotes:

(1) Reflects securities acquired from GX Sponsor II LLC ("Sponsor") in a pro rata distribution to all Sponsor members immediately following the closing of the business combination (the "Business Combination") contemplated by the Business Combination Agreement, dated as of September 25, 2022, as amended, entered into by and among GX Acquisition Corp. II, the Issuer, and Big Red Merger Sub Ltd, a wholly owned subsidiary of the Issuer. After the closing of the Business Combination, GX Acquisition Corp. II became an indirect subsidiary of the Issuer and changed its name to "Elk Creek Resources Corp."

(2) These shares of Class B common stock of Elk Creek Resources Corp. ("Elk Class B Shares") are exchangeable for the Issuer's common shares on a one-for-one basis. Unvested Elk Class B Shares will vest if, from the closing of the Business Combination until the tenth anniversary thereof, the volume-weighted average price ("VWAP") of the Issuer's common shares exceeds certain thresholds as follows: (a) one-half will vest if the VWAP of the Issuer's common shares exceeds $12.50 for any 20 trading days within any 30 trading day period, and (b) the remaining half will vest if the VWAP of the Issuer's common shares exceeds $15.00 for any 20 trading days within any 30 trading day period.

(3) Includes 223,996 unvested Elk Class B Shares.

(4) The warrants may be exercised commencing 30 days after the consummation of the Business Combination and expire five years after the consummation of the Business Combination or earlier upon redemption.

(5) Each warrant is exercisable for 1.118292212 common shares of the Issuer, such that an aggregate of 192,392 warrants are exercisable for an aggregate of 215,150 common shares, with an aggregate exercise price of $2,212,508 (or approximately $10.284 per share).

**Remarks:**
Exhibit 24.1 - Power of Attorney

**Signature:** /s/ Neal Shah  
**Date:** 2023-03-21

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**