Ucore Accepts $2M Investment from Hondo Private Equity LLC

Counsel to Ucore with respect to the completion of the non-brokered private placement offering for gross proceeds of $2,160,000

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On January 31, 2025, Ucore Rare Metals Inc. (the “Company”) announced that they have completed a non-brokered private placement offering of 3,600,000 units (the “Units”) at a price of $0.60 per Unit for gross proceeds of $2,160,000 (the “Offering”).

The Offering had only one subscriber, Hondo Private Equity LLC, which is controlled by Shawn Matthews, Founder, CEO and Chief Investment Officer of Hondius Capital Management, LP (“Hondius”). Hondius is an alternative investment manager. Prior to founding Hondius in 2018, Mr. Matthews was CEO of Cantor Fitzgerald & Co from 2009 to 2018. 

Each Unit consisted of one common share in the capital of the Company (a “Common Share”) and one full Common Share purchase warrant (each warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share for a period of 36 months following the date of closing of the Offering (the “Closing Date”) at an exercise price of $0.75. 

Miller Thomson advised Ucore with a team comprised of Geoff Clarke, Jonathan Tong, Madison Derraugh (Capital Markets/Securities/Mining) and Anca Nitu (securities clerk)

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