Source: Ucore Rare Metals
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  • Ucore Rare Metals (UCU) has announced a non-brokered private placement for total proceeds of $2 million
  • Ucore intends to issue approximately 3.1 million units
  • The company will use the proceeds from the offering towards the commissioning of the company’s planned RapidSX demonstration plant, etc
  • Ucore Rare Metals Inc. is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies
  • Ucore Rare Metals Inc. was down 5.405 per cent, trading at $0.70 at 11:30 AM ET

Ucore Rare Metals (UCU) has announced a non-brokered private placement for total proceeds of $2 million.

Ucore intends to issue approximately 3.1 million units. Each unit, priced at C$0.65, will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of $0.85 for a 24-month term.

The company will use the proceeds from the offering towards the commissioning of the company’s planned RapidSX demonstration plant; the processing of initial feedstock through the demonstration plant; finalization of offtake and feedstock agreements; engineering work for the proposed Strategic Metals Complex in Louisiana, USA; and for general working capital purposes

The offering is expected to close on or about December 15, 2022.

Ucore Rare Metals Inc. is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability.

Ucore Rare Metals Inc. was down 5.405 per cent, trading at $0.70 at 11:30 AM ET.


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