Ucore Announces Completion of Private Placement
December 31 2013 - 11:35AM
Marketwired
Ucore Announces Completion of Private Placement
HALIFAX, NOVA SCOTIA--(Marketwired - Dec 31, 2013) - Ucore Rare
Metals Inc. (TSX-VENTURE:UCU)(OTCQX:UURAF), ("Ucore" or the
"Company") is pleased to announce that, subject to final approval
of the TSX Venture Exchange, it has closed a non-brokered private
placement consisting of 1,200,000 common shares of the Company to
be issued on a flow through basis pursuant to the Income Tax Act
(Canada) (the "Tax Act") at a price of $0.21 per share for gross
proceeds of $252,000.
The gross proceeds from the issuance of the flow through shares,
as defined in the Tax Act, will be used on qualifying flow through
mining expenditures related to the Company's Canadian exploration
projects, primarily, the Sandybeach Lake project in Nunavut. The
Company intends to renounce Canadian Exploration Expenses (as
defined in the Tax Act) with an effective date of no later than
December 31, 2013. The shares will be subject to a four-month hold
period which will expire on May 1, 2014.
About Ucore Rare Metals Inc.
Ucore Rare Metals Inc. is an early stage mine development
company focused on rare earth elements ("REE"), strategic and
technology metals. With multiple projects across North America,
Ucore's primary focus is the Bokan - Dotson Ridge REE property in
Alaska. The Bokan - Dotson Ridge REE project is located 60 km
southwest of Ketchikan, Alaska and 140 km northwest of Prince
Rupert, British Columbia and has direct ocean access to the western
seaboard and the Pacific Rim, a significant advantage in expediting
mine production and limiting the capital costs associated with mine
construction. The Bokan properties are located in an area reserved
for sustainable resource development.
Jim McKenzie, President and CEO
This press release includes certain statements that may be
deemed "forward-looking statements". All statements in this
release, other than statements of historical fact, that address
future exploration drilling, exploration activities, the intended
use of proceeds of this financing, the intention to renounce
Canadian Exploration Expenses and events or developments that the
Company expects, are forward looking statements. Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include
exploitation and exploration successes, continued availability of
financing, and general economic, market or business
conditions.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Ucore Rare Metals Inc.Mr. Jim McKenziePresident and Chief
Executive Officer(902) 482-5214
Ucore Rare Metals (QX) (USOTC:UURAF)
Historical Stock Chart
From Jul 2024 to Aug 2024
Ucore Rare Metals (QX) (USOTC:UURAF)
Historical Stock Chart
From Aug 2023 to Aug 2024