Highly Regarded Nebraska Leader Re-Joins NioCorp Board

Rhea-AI Summary

NioCorp Developments Ltd. (NASDAQ:NB) has announced the return of Tony Fulton to its Board of Directors. Fulton, a former Nebraska State Senator and Tax Commissioner, will serve on the Board's Nominating and Corporate Governance Committee and Audit Committee.

Fulton previously served on NioCorp's board from 2013 to 2016 before departing to lead the Nebraska Department of Revenue, a $9 billion enterprise with 400 employees. Currently, he serves as President of Hallmark Homecare, LLC and is the Founder and Owner of Guardian Angels Homecare, Inc. His return comes as the company's Elk Creek Critical Minerals project progresses, which is considered strategically important for both Nebraska and the United States.

Positive

• Addition of highly experienced board member with significant government and business leadership experience
• Strategic progress on the Elk Creek Critical Minerals project
• Strengthening of corporate governance with new member joining Audit and Nominating committees

Negative

• None.

Former Nebraska State Senator Tony Fulton Re-Joins NioCorp Board After Serving as Nebraska's 22^nd Tax Commissioner and Director of the Nebraska Department of Revenue

CENTENNIAL, CO / ACCESS Newswire / August 11, 2025 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB) is pleased to announce that Tony Fulton has re-joined the Company's Board of Directors (the "Board"), filling a current vacancy. He will serve on the Board's Nominating and Corporate Governance Committee and Audit Committee.

A former Nebraska State Senator and successful business entreprenuer, Mr. Fulton previously served on the Board from 2013 until 2016, when he left to serve as Nebraska Tax Commissioner and Director of the Nebraska Department of Revenue, a 400-employee, $9 billion enterprise. A mechanical engineer by training, Mr. Fulton is the President of the Nevada-based Hallmark Homecare, LLC and is the Founder and Owner of Guardian Angels Homecare, Inc. of Lincoln, Nebraska.

"The NioCorp family is thrilled to have Tony Fulton rejoin the NioCorp Board and bring to our company his extensive business, management, and government acumen," said Mark A. Smith, Chairman and CEO of NioCorp. "Tony is an exceptionally successful business leader and is highly regarded among senior government officials in Nebraska and nationally. We are thrilled that Tony is once again able to serve as a highly valuable addition to NioCorp."

Mr. Fulton said: "I am very pleased and proud to re-join the NioCorp Board just as the Company's Elk Creek Critical Minerals project is rapidly progressing. This project represents a highly strategic asset for both Nebraska and the United States, and we must do all that we can to bring it into commercial operation as soon as possible given its economic, national security, and geopolitical significance for our nation."

In addition to his work in the senior care industry, Mr. Fulton serves as the Chairman of the Diocesan Finance Council for the Catholic Diocese of Lincoln (Southern Nebraska). He is the recipient of numerous awards throughout his professional career, including the following: 2012 Lincoln Nebraska Chamber of Commerce "Small Business of the Year"; 2012 Nebraska Sportsmen's Foundation's "Outstanding Leadership Award"; 2012 Better Business Bureau "Ambassador of Integrity Award"; 2015 KFOR "Best of Lincoln" winner; Lincoln Journal-Star's "Lincoln's 20 Under 40 Young Professionals;" and the 2010 Lincoln Chamber of Commerce "Business Advocate of the Year."

Mr. Fulton resides in Lincoln with his family. He received his B.S. in Mechanical Engineering from the University of Nebraska-Lincoln, with studies in Philosophy at Newman University in Wichita, KS and Theology at Mount Saint Mary's University in Emmittsburg, MD.

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FOR MORE INFORMATION:

Jim Sims, Corporate Communications Officer, NioCorp Developments Ltd., (720) 334-7066, jim.sims@niocorp.com

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing a critical minerals project in Southeast Nebraska that is expected to produce niobium, scandium, and titanium (the "Elk Creek Project"). The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense and civilian applications.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements may include, but are not limited to, statements regarding Mr. Fulton's expected contributions to NioCorp as a member of the Board; the rapid progression of the Elk Creek Project; NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's ability to move the Elk Creek Project to commercial operation. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction and development of the Elk Creek Project on acceptable terms or at all; the future price of metals; the stability of the financial and capital markets; NioCorp'a expectation that it will receive the full $10 million award from the U.S. Department of Defense (the "DoD"); NioCorp's ability to service future debt, if any, and meet the payment obligations thereunder; and current estimates and assumptions regarding the benefit of NioCorp's business combination with GX Acquisition Corp. II (the "Business Combination") and the standby equity purchase agreement (the "Yorkville Equity Facility Financing Agreement" and, together with the Business Combination, the "Transactions") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP, and their benefits. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities and the following: NioCorp's ability to operate as a going concern; NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms or at all; NioCorp's ability to receive a final commitment of financing from the Export-Import Bank of the United States or a debt guarantee from UK Export Finance on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full $10 million award from the DoD; NioCorp's ability to recognize the anticipated benefits of the Transactions, including NioCorp's ability to access the full amount of the expected net proceeds under the Yorkville Equity Facility Financing Agreement; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness, if any, or the Yorkville Equity Facility Financing Agreement may impair NioCorp's ability to obtain additional financing, on acceptable terms or at all; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the Transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining industry; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns, and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining, or development activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; potential future litigation; and NioCorp's lack of insurance covering all of NioCorp's operations.

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

SOURCE: NioCorp Developments Ltd.

View the original press release on ACCESS Newswire

FAQ

Who is Tony Fulton and why did he rejoin NioCorp's (NASDAQ:NB) board?

Tony Fulton is a former Nebraska State Senator and Tax Commissioner who rejoined NioCorp's board to support the company's Elk Creek Critical Minerals project. He previously served on the board from 2013 to 2016.

What committees will Tony Fulton serve on NioCorp's (NASDAQ:NB) board?

Tony Fulton will serve on two committees: the Nominating and Corporate Governance Committee and the Audit Committee.

What is the significance of NioCorp's Elk Creek project?

The Elk Creek Critical Minerals project is described as a highly strategic asset for both Nebraska and the United States, with economic, national security, and geopolitical significance.

What is Tony Fulton's professional background?

Fulton is a mechanical engineer who served as Nebraska's Tax Commissioner, managing a $9 billion enterprise. He is currently President of Hallmark Homecare and Founder of Guardian Angels Homecare.