- Ucore Rare Metals (UCU) and IBC Advanced Technologies have reached an amicable settlement regarding all litigation activities
- Terms include IBC purchasing the MRT pilot plant from Ucore for C$1.5 million
- The agreement also includes the termination of the Option to Purchase Agreement and any other existing agreements between the parties
- IBC is an award-winning provider of proprietary and innovative Molecular Recognition Technology products and processes
- Ucore Rare Metals is focused on rare metals extraction, beneficiation and separation technologies
- Ucore (UCU) is down 15.73 per cent, trading at C$2.25 per share at 1:38 pm EST
Ucore Rare Metals (UCU) and IBC Advanced Technologies have reached an amicable settlement regarding all litigation activities between the parties.
The terms include IBC purchasing the MRT pilot plant from Ucore for US $1.175 million (C $1.5 million) pursuant to a series of payments.
Additionally, the Agreement includes the termination of the Option to Purchase Agreement and any other existing agreements between the parties, and an agreement to dismiss all lawsuits with prejudice and to mutually release and waive all claims.
Per the terms of the Agreement, there will be no further announcements or release of Agreement details by either party.
IBC is an award-winning provider of proprietary and innovative Molecular Recognition Technology products and processes
Ucore Rare Metals Ucore is focused on rare metals extraction, beneficiation and separation technologies.
Ucore (UCU) is down 15.73 per cent, trading at C$2.25 per share at 1:38 pm EST.
