Ucore Rare Metals Inc. Closes Brokered Equity Private Placement (LIFE Offering) for $4.82 Million

Counsel to Ucore Rare Metals Inc.

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On July 28, 2023, Ucore Rare Metals Inc. (TSXV:UCU; OTCQX:UURAF) (“Ucore”) completed the final closing of a brokered equity private placement by selling an aggregate of 4,822,500 units (the “Units”) to investors at a subscription price of $1.00 per Unit for aggregate gross proceeds of $4.82 million. Each Unit consisted of one common share of Ucore and one-half of one common share purchase warrant.

The offering was led by Research Capital Corporation, as lead agent and sole bookrunner, on behalf of a syndicate of agents that included Canaccord Genuity Corp. and Echelon Wealth Partners Inc.  The Units were offered and issued to purchasers on a prospectus-exempt basis pursuant to the listed issuer financing exemption (LIFE) (which became effective as at Nov. 21, 2022).

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, Shimmy Igelman and Ian Polisuk (Capital Markets & Securities, Mining) as well as securities clerk, Anca Nitu, and summer student, Vittoria Blanco.

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