Ucore Announces Closing of Brokered Offering for Gross Proceeds of C$15.5 Million

About this update from Ucore Rare Metals Inc.

[{"type":"text","content":"Ucore Announces Closing of Brokered Offering for Gross Proceeds of C$15.5 MillionHalifax, Nova Scotia--(Newsfile Corp. - June 19, 2025) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (\"Ucore\" or the \"Company\") is pleased to announce the closing of its previously announced \"best efforts\" private placement (the \" Offering\") for aggregate gross proceeds of C$15.5 million, which includes the full exercise of the agents' option. In aggregate pursuant to the Offering, the Company sold 12,916,667 units of the Company (the \"Units\") at a price of $1.20 per Unit (the \"Offering Price\"). Each Unit consists 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 (a \"Warrant 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. (collectively, the \"Agents\"), acted as agents in connection with the Offering. As consideration for their services, the Agents received cash commissions and advisory fees totaling $855,000 and were issued an aggregate of 712,500 non-transferable Common Share purchase warrants (the \"Broker Warrants\"). Each Broker Warrant is exercisable into one Common Share at the Offering Price at any time on or before June 19, 2028. 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. The Units and the securities underlying the Units are not subject to resale restrictions pursuant to applicable Canadian securities laws.The net proceeds of the Offering are expected to be used for the following: (i) finalization of upstream mixed-rare-earth feedstock agreements and downstream customer offtake agreements for the Company's planned strategic metals complex (\"SMC\") in Louisiana, USA; (ii) completion of the Company's existing obligations pursuant to its agreements with the U.S. Department of Defense and Natural Resources Canada; (iii) commercial scale column confirmation testing...

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