On December 22, 2022, Ucore Rare Metals Inc. (TSXV:UCU; OTCQX:UURAF) (“Ucore”) completed the closing of a non-brokered equity private placement by selling an aggregate of 7,055,795 units (the “Units”) to accredited investors at a subscription price of $0.65 per Unit for aggregate gross proceeds of $4.59 million. Each Unit consisted of one common share of Ucore and one common share purchase warrant.
Ucore is a TSXV-listed company focused on rare and critical metals resources, extraction, beneficiation and separation technologies with potential for production, growth and scalability. Ucore owns the Bokan Mountain Rare Earth Element Project in Southeast Alaska. Ucore also owns Innovation Metals Corp., a technology company that has developed the proprietary RapidSX™ process for the intended low-cost separation and purification of rare earth elements, nickel, cobalt, lithium and other technology metals, via an accelerated form of solvent extraction.
Miller Thomson advised Ucore on the transaction with a team comprising of Geoff Clarke, Jonathan Tong and Madison Derraugh (Capital Markets & Securities).
