Ucore Rare Metals Secures Oversubscribed Funding for North American Critical Metals Independence

Ucore Rare Metals Inc. has successfully closed an oversubscribed brokered private placement with each unit priced at $1.20, signaling strong market confidence in the company's mission to enhance North America's self-sufficiency in rare and critical metals. The placement was led by Red Cloud Securities Inc. with Raymond James Ltd. serving as co-agent, with each unit consisting of one common share and one-half of a warrant exercisable at $1.75 for 36 months. This financial injection is specifically designated to accelerate development of the company's Strategic Metals Complex in Louisiana, a project positioned to disrupt China's current dominance in the rare earth elements sector.

The net proceeds from this financing will be allocated toward several strategic initiatives including securing feedstock and offtake agreements, fulfilling commitments to the U.S. Department of Defense and Natural Resources Canada, advancing commercial testing protocols, and making substantial engineering progress. With the agents' option still available, the total gross proceeds could potentially reach up to $11.5 million, subject to final approval from the TSX Venture Exchange. This funding represents a critical milestone in Ucore's broader strategy to establish a comprehensive North American supply chain for rare and critical metals.

Ucore's approach extends beyond the Louisiana facility, with planned additional facilities in Canada and Alaska that would leverage the company's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project in Southeast Alaska. The company's focus on advanced metal separation technologies positions it as a potential leader in creating a resilient North American supply chain for these essential resources. The successful completion of this oversubscribed placement demonstrates the investment community's recognition of the strategic importance of reducing dependence on foreign sources for critical materials used in defense, technology, and clean energy applications.

The implications of this development extend far beyond corporate success, representing a tangible step toward North American strategic independence in materials crucial for national security and technological advancement. As global competition for rare earth elements intensifies, Ucore's progress in establishing domestic processing capabilities addresses a critical vulnerability in the North American industrial base. The company's vision aligns with broader governmental initiatives aimed at securing reliable access to these strategically important materials, making this funding achievement particularly significant for both economic and national security considerations.