Document:

Exhibit 10.1

 

AMENDMENT
#7 TO CONTRACT

 

AGREEMENT,
made and entered into this 28th day of August, 2017, by and between NioCorp Developments Ltd., of 7000 South
Yosemite Street, Suite115, Centennial, CO 80112 (hereinafter referred to as “NioCorp”) and Lind Asset Management
IV, LLC, of 370 Lexington Ave, Suite 1900, New York, NY 10017 (hereinafter referred to as “Lind”).

 

W
I T N E S S E T H

 

WHEREAS,
NioCorp and Lind have previously entered into that certain “Convertible Security Funding Agreement” dated December 14,
2015, as amended by Amendment #1 To Contract dated September 26, 2016, Amendment #2 To Contract dated December 29, 2016, Amendment
#3 To Contract dated March 20, 2017, Amendment #4 To Contract dated April 21, 2017, and Amendment #5 To Contract dated June 1,
2017, and Amendment #6 To Contract dated August 4, 2017 (hereinafter referred to as the “Contract”); and

 

WHEREAS,
NioCorp and Lind wish to further amend the terms and conditions of the Contract as hereinafter provided;

 

NOW
THEREFORE, in consideration of the mutual covenants and promises herein contained and other good and valuable consideration,
each to the other in hand paid, NioCorp and Lind agree that from the date of this Amendment #7 until January 1, 2018, the sum
US$1,000,000 as it occurs in each of the following sections of the Contract shall be, and hereby is, temporarily reduced to US$150,000.00
(One Hundred Fifty Thousand Dollars):

 

		1.	Section
                                         1.1 under the definition of “Market Cap / Cash Balance Conversion Event”
                                         subpart (a).

		2.	Section
1.1 under the definition of “Second Closing Notification Date” subpart (b).

 

As
of January 1, 2018, all of the foregoing amounts shall automatically revert from US$150,000.00 to US$1,000,000 without further
action by the Parties.

 

The
duration of the aforesaid temporary reduction may be extended only by the mutual written agreement of the Parties.

 

Except
as specifically set forth hereinabove, the Contract remains in full force and effect.

 

In
witness whereof the parties have set their mutual hands and seals the day and date first above written.

  

	NioCorp Developments Ltd.:	 	Lind Asset Management IV, LLC:
	 	 	 	 	 
	By:	/s/ John
    F. Ashburn Jr	 	By:	/s/ Jeff
    Easton
	 	 	 	 	 
	 	VP and General Counsel	 	 	Managing Director
	 	Title	 	 	TitleExhibit 10.2

 

 

 

Amendment
#8 to

 

the
Convertible Security Funding Agreement

 

between

 

NioCorp
Developments Ltd

 

And

 

Lind
Asset Management IV, LLC

 

 

 

    

     

    

 

	Issuer:

         

        Investor:
	NioCorp
        Developments Ltd (the “Company”)

         

        Lind
        Asset Management IV, LLC (the “Investor”)

	 	 
	 	 
	Recitals:	Whereas, Company and Investor have previously
    entered into that certain “Convertible Security Funding Agreement” dated December 14, 2015, as amended by Amendment
    #1 To Contract dated September 26, 2016, Amendment #2 To Contract dated December 29, 2016, Amendment #3 To Contract dated
    March 20, 2017, Amendment #4 To Contract dated April 21, 2017, and Amendment #5 To Contract dated June 1, 2017, Amendment
    #6 To Contract dated August 4, 2017, and Amendment #7 To Contract dated August 28, 2017 (hereinafter referred to as the “Contract”),
    and Company and Investor wish to further amend the terms and conditions of the Contract as hereinafter provided and to issue
    the Second Convertible Security as provided in the Contract, Company and Investor agree as follows: 
	 	 
	Second Convertible

 Security Notice:	Upon signing this amending agreement (the “Amending
    Agreement”) by both parties, the Company will be deemed to have issued a valid Second Convertible Security Notice
    and the Investor will be deemed to have elected to subscribe for the Second Convertible Security under the Agreement for an
    amount of US$2,500,000.
	 	 
	Second Convertible

 Security Funded Amount:	US$2,500,000
	 	 
	Second Convertible

 Security Face Value: 	US$3,000,000
	 	 
	Second Closing Fee:	US$75,000 (3%)
	 	 
	Second
        Warrants:

         

         

        

        	(the
        Funded Amount / VWAP per Share during the five (5) consecutive Trading Days immediately before the Second Closing Date)
        X 0.50, with an exercise price equal to 120% of the VWAP per Share for the five consecutive Trading Days immediately before
        the Second Closing Date.

	 	 
	Amount
of Second

Convertible Security:

        

        	        The
        sum US$6,000,000 as it occurs in sections 2.1(e)(i) and 2.1(f)(iii) of the Contract is hereby reduced to US$2,500,000.

	 	 
	Term:
	The
        definition of the word “term” as it appears in Section 1.1 of the Contract is hereby amended by adding the
        following new Section:

         

        (e)
        In respect of the Convertible Securities issued pursuant to the Second Convertible Security Increase Notice and the Second
        Convertible Security Increase Notice from the Company (collectively the “Subsequent Second Convertible Securities”),
        the period commencing from the date of the Subsequent Second Convertible Security Closing or the Subsequent Second Convertible
        Security Closing at the Request of the Company (as applicable) and ending on the date that is the earlier of: (i) twenty-four
        (24) months from the date of the Subsequent Second Convertible Security Closing or the Subsequent Second Convertible Security
        Closing at the Request of the Company (as applicable); or (ii) thirty (30) calendar days after the date on which there
        is nil Amount Outstanding of said Subsequent Second Convertible Securities due to the Amount Outstanding having been fully
        converted and/or fully repaid (including with any applicable premium).

 

    

     

    

 

	Second Convertible

 Security Increase Notice:	The amount referred to under section 2.1(i)
    of the Contract is hereby amended to US$1,000,000, which shall be the amount that the Investor may increase so long as any
    part of the Face Value of the Second Convertible Security remains outstanding
	 	 
	Second Convertible

 Security Increase Notice

    from the Company:	The
        following section is hereby added as new Section 2.1(k) to the Contract:

         

        After
        90 days following the funding of the Second Convertible Security, the Company may issue the Investor with a written notice
        requiring the Investor to increase the amount of the funding advanced under the Second Convertible Security (Second
        Convertible Security Increase Notice from the Company) and within thirty (30) Trading Days of the issue of the Second
        Convertible Security Increase Notice from the Company, the Investor will advance to the Company, subject to no prior or
        current Event of Default and provided that at such time (i) the Market Capitalisation of the Company is above C$75,000,000,
        and (ii) the Company has at least US$150,000 of cash on its balance sheet in immediately available funds a further US$1,000,000
        (subject to any additional set off in this Agreement) with an implied interest rate of 10% per annum (being a Total Interest
        Amount of US$200,000 regardless of whether the Conversion and/or repayment of the entire Amount Outstanding for the Second
        Convertible Security occurs before the expiry of the Term, subject to clause 5.4) as additional consideration for the
        Second Convertible Security, the Face Value of the Second Convertible Security of which will increase by US$1,200,000
        (representing a further funding amount of US$1,000,000 plus an implied interest amount of US$200,000) (the date on which
        such funds are received from the Investor by the Company constituting the Subsequent Second Convertible Security Closing
        at the Request of the Company);

	 

        Subsequent
        Funding at

 the Request of the

 Company Second

 Warrants 
	 

        The
        following definition is added to Section 1.1 of the Contract:

         

        Subsequent
        Funding at the Request of the Company Second Warrants  means that number of warrants to purchase Shares to
        which the Investor is entitled pursuant to the Subsequent Funding at the Request of the Company Second Warrants Calculation
        Formula, exercisable at the Warrants Exercise Price on or before the date falling thirty-six (36) months after their issue,
        granted in accordance with the terms and conditions set out in Annexure A.

         

        Subsequent
        Funding at the Request of the Company Second Warrants Calculation Formula means the number (N) determined pursuant
        to the following formula:

         

        (US$1,000,000
        / VWAP per Share during the five (5) consecutive Trading Days immediately before the Subsequent Second Convertible Security
        Closing at the Request of the Company) X 0.50 = N.

 

    

     

    

 

	 	
        The
        definition of “Warrants” in Section 1.1. is hereby replaced with the following:

         

        Warrants
        means the First Warrants, the Subsequent Funding First Warrants, the Second Warrants, the Subsequent Funding Second
        Warrants and the Subsequent Funding at the Request of the Company Second Warrants (and Warrant means any single Warrant
        of any one of them).

         

        The
        following replaces subsection (d) of the definition of “Warrant Exercise Price” in Section 1.1:

         

        (d)
        for the Subsequent Funding Second Warrants or the Subsequent Funding at the Request of the Company Second Warrants, the
        price per Share equal to 120% of the VWAP per Share (in Canadian dollars) for the five (5) consecutive Trading Days immediately
        before the Subsequent Second Convertible Security Closing or the Subsequent Second Convertible Security Closing at the
        Request of the Company, as the case may be (provided that if the resultant VWAP number contains four or more decimal places,
        such number will be rounded to the nearest four decimal places) subject to all adjustments pursuant to this Agreement.

         

        The
        following section is hereby added as new Section 3.2(f) to the Contract:

         

        (f)
        Subsequent Second Convertible Security Closing at the Request of the Company (if it occurs), the Company shall grant to
        the Investor or Designated Warrant Holder the Subsequent Funding at the Request of the Company Second Warrants.

	 	 
	Expenses:	The Company shall
    make a non-refundable payment towards the Investor’s legal cost in the amount of US$10,000 to a law firm designated
    by the Investor on execution of this Amending Agreement.
	 	 
	Confidentiality:

        

         

         

         

         

        Miscellaneous:
	The
        Company shall not disseminate or disclose this Amending Agreement or any content of this Amending Agreement in any way
        to any third party, other than (i) as may be required by law, and/or (ii) to its employees, agents, directors, attorneys,
        financial advisors and consultants that have a reasonable need to know such information. The obligations of the Company
        contained in this paragraph are binding on the Company, and shall survive the termination of this Amending Agreement.

         

        Except
        as specifically set forth hereinabove, the Contract remains in full force and effect.

	 	 
	 	
        Capitalized
        terms used but not defined in this Amending Agreement have the meanings given to them in the Contract.

         

        On
        and after the date of this Amending Agreement, any reference to “the Agreement” in the Contract and any reference
        to the Contract in any other agreement will mean the Contract as amended by this Amending Agreement.

 

    

     

    

 

	 	

        This
        Amending Agreement becomes effective when executed by the Parties. After that time, it will be binding upon and enure
        to the benefit of the Parties and their perspective successors, legal representatives and permitted assigns.

         

        This
        Amending Agreement shall be governed by, including as to validity, interpretation and effect, the laws of the Province
        of British Columbia and the federal laws of Canada applicable therein.

         

        This
        Amending Agreement and the Contract shall be read and construed together as if they constituted one document, provided
        that if there is any inconsistency between the Contract and the provisions of this Amending Agreement, the provisions
        of this Amending Agreement shall govern.

         

        The
        Parties agree that this Amending Agreement is a written instrument in writing as contemplated by Section 17.8 of the Contract.

 

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	 	Agreed to and accepted this _23rd_ day of _January, 2018.	 
	 	 	 	 
	 	NioCorp Developments Ltd 	 
	 	 	 	 
	 	By:	 /s/ Mark A. Smith	 
	 	Name:	 Mark A. Smith	 
	 	Title:	President & CEO	 
	 	 	 	 
	 	Lind Asset Management IV, LLC	 
	 	 	 	 
	 	By:	 The Lind Partners, LLC	 
	 	 	General Partner	 
	 	 	 	 
	 	By:	 /s/ Jeff Easton	 
	 	Name: 	Jeff Easton	 
	 	Title:	Managing Director

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