Business
Ucore Announces Books Closed on C$15.5 Million LIFE Offering and Full Exercise of Agents' Option
Halifax, Nova Scotia--(Newsfile Corp. - June 10, 2025) - Ucore Rare Metals Inc. (TSXV: UCU) ...
About this update from Ucore Rare Metals Inc.
[{"type":"text","content":"Ucore Announces Books Closed on C$15.5 Million LIFE Offering and Full Exercise of Agents' OptionHalifax, Nova Scotia--(Newsfile Corp. - June 10, 2025) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (\"Ucore\" or the \"Company\") is pleased to announce that, further to its news release dated June 9, 2025, the order book for the Company's previously announced upsized private placement (the \"Offering\"), is closed with orders totaling C$15.5 million. The Offering is over-subscribed and includes the full exercise of the agents' option. Although orders in excess of C$15.5 million were received in connection with the Offering, in keeping with the previously announced upsize, the Company and agents have elected to limit the order book to a total amount of C$15.5 million. Red Cloud Securities Inc., as lead agent and sole bookrunner, together with Raymond James Ltd., are acting as agents in connection with the Offering, which was originally announced for aggregate gross proceeds of up to C$10.0 million on June 3, 2025 and then subsequently upsized due to strong investor demand. For additional information regarding the Offering and the anticipated use of proceeds from the Offering, please see the Company's press release dated June 9, 2025. The Company and the agents do not intend to further upsize the Offering. It is anticipated that the Offering will close on or about June 19, 2025, and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval of the TSX Venture Exchange (the \"TSXV\").The Units to be issued under the Offering have been offered to purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions, in all the provinces of Canada, except Québec. The Units will not be subject to resale restrictions pursuant to applicable Canadian securities laws. For further details concerning the Offering, please refer to the Company's amended and restated offering document relating to the Offering, which can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any juri...