On October 30, 2019, Ucore Rare Metals Inc. (TSXV: UCU) announced that it had successfully closed its prospectus-exempt rights offering, raising $8.1 million in gross proceeds. Pursuant to the rights offering, each holder of Ucore common shares received one transferable right for each common share held. Each right entitled the holder to purchase one common share at a price of $0.10 (representing a discount of 56.5% from the closing price of $0.23 on September 9, 2019).
Ucore Rare Metals is a development-phase company focused on rare earth and critical metals resources, extraction and beneficiation technologies. The Company has a 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Project in Alaska, USA.
Miller Thomson was Canadian legal counsel to Ucore Rare Metals with a team comprised of Geoff Clarke and Jonathan Tong (Capital Markets/Securities).