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Ucore Executes Supply Agreement with Critical Metals Corp.
Halifax, Nova Scotia--(Newsfile Corp. - August 26, 2025) - Ucore Rare Metals Inc. (TSXV: UCU) (...
About this update from Ucore Rare Metals Inc.
[{"type":"text","content":"Ucore Executes Supply Agreement with Critical Metals Corp.Halifax, Nova Scotia--(Newsfile Corp. - August 26, 2025) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (\"Ucore\" or the \"Company\") is pleased to announce the execution of a Non-binding Letter of Intent (\"LOI\") with Critical Metals Corp. (NASDAQ: CRML) (\"CMC\") for a long-term offtake agreement to secure heavy rare earth element feedstock from CMC's Tanbreez Project in southern Greenland.Under the terms of the proposed arrangement, Critical Metals Corp. intends to supply Ucore with a rare earth product from Tanbreez over an initial 10-year term. This material will be used as feedstock for Ucore's Strategic Metals Complex (SMC) in Alexandria, Louisiana, a facility supported by both the U.S. Department of Defense and the State of Louisiana. Smaller volumes will initially be processed at Ucore's Commercial Demonstration Facility (\"CDF\") in Kingston, Ontario.\"Critical Metals Corp's Tanbreez offers tremendous opportunities for Ucore given the significant concentration of heavy rare earths it contains, which are essential for the production of rare earth permanent magnets,\" said Pat Ryan, Chairman and CEO of Ucore. \"Both Critical Metals Corp and Ucore share a vision to lessen China's grip of the rare earth ecosystem in the West, and we look forward to our partnership, positioning us both to meet the growing demand for rare earths while addressing national security challenges.\"\"Ucore's refining capabilities, together with feedstock from the Tanbreez project, has the potential to fill key gaps in the western rare earth supply chain,\" said Tony Sage, CEO and Executive Chairman of Critical Metals Corp. \"These materials are critical to a number of western defense and consumer applications and we look forward to teaming up with Ucore and their exceptional team to support the development of a robust supply chain in America that isn't reliant on China.\"The non-binding LOI sets out the parties' intentions to negotiate and execute a Definitive Offtake Agreement. Terms of the LOI include the delivery of a mixed rare earth carbonate or oxide, with specifications to be agreed to, over a multi-year term commencing on the later of July 1, 2027 or commercial production. The execution of a Definitive Offtake Agreement remains subject to customary conditions including comple...