FAQ: Ucore Rare Metals Inc. Closes Oversubscribed Private Placement for Strategic Metals Complex Development

What is the purpose of Ucore Rare Metals Inc.’s private placement?

The private placement aims to fund key initiatives for Ucore’s planned Strategic Metals Complex in Louisiana, including feedstock and offtake agreements, commitments to the U.S. Department of Defense and Natural Resources Canada, commercial testing, and engineering progress.

How much was raised in the private placement?

The private placement was priced at $1.20 per unit, with the agents’ option potentially increasing total gross proceeds to $11.5 million, pending final TSX Venture Exchange approval.

What does each unit in the private placement consist of?

Each unit comprises one common share and one-half of a warrant exercisable at $1.75 for 36 months.

Who acted as the lead agent and co-agent for the private placement?

Red Cloud Securities Inc. acted as the lead agent and Raymond James Ltd. as the co-agent for the private placement.

What is Ucore Rare Metals Inc.’s vision?

Ucore aims to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry, and to disrupt China’s control of the North American REE supply chain.

Where can I find more information about Ucore Rare Metals Inc.?

More information is available in the company’s newsroom at https://ibn.fm/UURAF and the full press release can be viewed at https://ibn.fm/XgQCj.

What are the strategic locations for Ucore’s planned complexes?

Ucore plans to establish a rare-earth processing facility in Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska, and develop the Bokan-Dotson Ridge Rare Heavy REE Project in Southeast Alaska.

Why is Ucore’s initiative significant?

Ucore’s initiative is significant as it aims to reduce North America’s dependence on China for rare-earth elements, which are critical for various high-tech and defense applications.

Where is Ucore Rare Metals Inc. listed?

Ucore is listed on the TSXV under the trading symbol ‘UCU’ and in the United States on the OTC Markets’ OTCQX(R) Best Market under the ticker symbol ‘UURAF’.