Ucore Rare Metals Inc. Closes $15.5 Million Brokered Equity Private Placement
Counsel to Ucore Rare Metals Inc. with respect to its $15.5 million LIFE offering private placement
Lead by
Geoff Clarke
Jonathan Tong
Team Members
On June 19, 2025, Ucore Rare Metals Inc. (TSXV:UCU) (the “Company”) announced that it completed a private placement for gross proceeds of $15.5 million. The Company sold 12,916,667 units (the “Units”) at a price of $1.20 per Unit. Each Unit consisted of one common share in the capital of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at any time on or before June 19, 2028 at an exercise price of $1.75.
Red Cloud Securities Inc., as lead agent and sole bookrunner, together with Raymond James Ltd., acted as agents in connection with the offering. The Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption.
Ucore is focused on rare-earth and critical-metal resources, extraction, beneficiation and separation technologies with the potential for commercial production, growth, and scalability. Ucore’s vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Miller Thomson advised Ucore Rare Metals Inc. with a team comprised of Geoff Clarke, Jonathan Tong, Madison Derraugh, Raquel Moses (Capital Markets/Securities/Mining) and Anca Nitu (Securities clerk), along with the assistance of Kaitlin Hartviksen (Summer student).