Ucore Announces Brokered LIFE Offering of Units for up to $10 Million

Core Viewpoint - Ucore Rare Metals Inc. has initiated a private placement offering to raise up to $10 million, with the potential to increase to$11.5 million if the Agents' Option is fully exercised, aimed at advancing its strategic metals complex and fulfilling obligations with the U.S. Department of Defense and Natural Resources Canada [1][2][5]. Group 1: Offering Details - The offering price is set at $1.20 per Unit, with each Unit comprising one common share and one-half of a warrant, allowing the purchase of one common share at an exercise price of$1.75 for 36 months [1]. - The Agents' Option allows for the sale of an additional 1,250,000 Units, potentially raising an extra $1.5 million [2]. - The offering is expected to close around June 19, 2025, pending necessary approvals [7]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated to finalizing upstream mixed-rare-earth feedstock agreements and downstream customer offtake agreements for the planned strategic metals complex in Louisiana [5]. - Funds will also support the completion of existing obligations with the U.S. Department of Defense and Natural Resources Canada, commercial scale column confirmation testing, and ongoing engineering plans for the strategic metals complex [5]. Group 3: Regulatory and Market Context - The Units will be offered under the listed issuer financing exemption in Canada, excluding Québec, and will not have resale restrictions under applicable Canadian securities laws [3]. - The offering will also be available in the United States under exemptions from registration requirements, with no prospectus filing obligations in other jurisdictions [4]. Group 4: Company Overview - Ucore focuses on rare and critical metal resources, aiming to become a leading advanced technology company in metal separation products and services [11]. - The company plans to disrupt China's control over the North American rare earth element supply chain through the development of processing facilities in the U.S. and Canada [12].