On February 9, 2021, Ucore Rare Metals Inc. (TSXV:UCU; OTCQX:UURAF) (“Ucore”) announced the closing of its non-brokered private placement, consisting of an aggregate of 6,700,000 units (the “Units”) at a subscription price of $1.00 per Unit, for aggregate gross proceeds of $6.7 million. Each Unit consisted of one common share of Ucore and one-half of 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, Luigi Valente and Desmond Christy (Capital Markets & Securities).
