Ucore Announces Brokered Offering of Units for up to $5.35 Million
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HALIFAX, Nova Scotia, June 16, 2023 (GLOBE NEWSWIRE) — Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (“Ucore” or the “Company”) has entered into an engagement letter with Research Capital Corporation (the “Lead Agent”), on behalf of a syndicate of agents, including Canaccord Genuity Corp. and Echelon Wealth Partners Inc. (collectively, the “Agents”), in connection with a ‘best efforts’ agency basis private placement of units of the Company (the “Units”) at a price of $1.00 per Unit (the “Offering Price”) for minimum gross proceeds of $4.0 million and maximum gross proceeds of $5.35 million (the “Offering”). Each Unit will consist 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 will entitle the holder thereof to purchase one Common Share (a “Warrant Share”) for a period of 36 months following the closing date of the Offering at an exercise price of $1.25.
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