Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a company engaged in the exploration for and separation and scalable production of rare earth elements (“REEs”) in Canada and the US, is moving to become a major leader in its sector. “Just recently, the company announced the closing of the first tranche of its previously announced private placement offering of units of the company, for aggregate gross proceeds of $4,409,500, in what is set to be a key catalyst in advancing its RapidSX(TM) REE commercial demonstration plant in Kingston, Ontario,” a recent article reads. “On June 6, Ucore announced that the U.S. Department of Defense (‘DOD’) had awarded it a $4 million project grant… This, coupled with the first tranche private placement, not only bolsters Ucore’s working capital but also continues to stamp its position as a leader in its space. China controls over 36.7% of the world’s REE reserves, 63% of its mining capacity, and over 90% of its refining capacity. Ucore is out to eat into this market share and assert dominance and independence from this supply chain. Through its tried technology, the company has won over the U.S. government. With its aggressive yet strategic investments, the company is on track to create a critical metals (‘CM’) supply chain independent of China.”
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About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation and separation technologies with the potential for 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. Through strategic partnerships, this plan includes disrupting the People’s Republic of China’s control of the North American REE supply chain through the near-term development of a heavy and light rare-earth processing facility in the U.S. state of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska and the longer-term development of Ucore’s 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA. Ucore is listed on the TSXV under the trading symbol UCU and in the United States on the OTC Markets’ OTCQX(R) Best Market under the ticker symbol UURAF. For further information, please visit www.ucore.com/corporateupdate.
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