Ucore Rare Metals Inc. (TSX-V: UCU) (OTCQX: UURAF) 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, 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 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 РProspectus Exemptions, in all the provinces of Canada, except Qu̩bec. 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 jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “1933 Act“) or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.

 

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 US State of Louisiana, subsequent strategic metals 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.