On May 29, 2020, Ucore Rare Metals Inc. (TSXV:UCU, OTCQX:UURAF) (“Ucore”) announced the completion of a $2.8 million private placement of convertible debentures (the “Financing”). Ucore will use the net proceeds from the Financing for developments related to Ucore’s recent acquisition of Innovation Metals Corp. and its RapidSX™ technology for the separation and purification of critical metals including rare earth elements, lithium, nickel and cobalt.
Ucore is focused on rare earth and critical metals resources, extraction and beneficiation technologies with potential for production, growth, and scalability. The Company has a 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Project in Alaska, USA.
Miller Thomson advised Ucore with regard to the Financing with a team led by Geoff Clarke (Capital Markets/Securities; Corporate/M&A; and Mining) and comprised of Jonathan Tong, Abid Ahmed and Luigi Valente (Capital Markets/Securities; Corporate/M&A).