HALIFAX, NS, March 26, 2021
/CNW/ - Ucore Rare Metals Inc. ("Ucore" or the
"Company") (TSXV: UCU) (OTCQX: UURAF) advises that an
aggregate of 190,000 options were granted to three senior officers
of Innovation Metals Corp. as well as to a consultant of the
Company, subject to the approval of the TSX Venture Exchange
(pursuant to the Company filing a Form 4G - Summary Form -
Incentive Stock Options with the exchange). The options are
exercisable at a price of C$1.30 per
share and expire five years from March 26,
2021, the date of grant. One third of the options will vest
after six months, with one third vesting every six months
thereafter until fully vested.
About Ucore Rare Metals Inc.
Ucore is focused on rare and critical metals resources,
extraction, beneficiation and separation technologies with
potential for production, growth, and scalability. Ucore has a 100%
ownership stake in the Bokan-Dotson Ridge Rare Earth Element
Project in Southeast Alaska.
Ucore's vision and plan is to transition to become a leading
advanced technology company that provides metal separation products
and services to the mining and mineral extraction industry.
Innovation Metals Corp. is a wholly owned subsidiary of Ucore.
Through strategic partnerships, this vision includes disrupting
the People's Republic of China's
dominance of the US REE supply chain through the development of a
heavy rare earth processing facility - the Alaska Strategic Metals
Complex in Southeast Alaska and
the long-term development of Ucore's heavy rare earth element
mineral resource property located at Bokan Mountain on Prince of
Wales Island, Alaska.
Ucore is listed on the TSXV under the trading symbol "UCU" and
in the United States on the OTC
Markets' OTCQX® Best Market under the ticker symbol "UURAF".
For further information, please visit www.ucore.com.
Forward-Looking Statements
This press release
includes certain statements that may be deemed "forward-looking
statements". All statements in this release (other than statements
of historical facts) that address future business development,
technological development and/or acquisition activities (including
any related required financings), timelines, regulatory approvals,
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 or results and actual results or developments
may differ materially from those in forward-looking statements.
Regarding the grant of the stock options that are the subject of
this press release, Ucore has assumed that the TSXV's final
approval of the grant will be obtained without delay. In regard to
the disclosure in the "About Ucore Rare Metals Inc." section above,
the Company has assumed that it will be able to procure or retain
additional partners and/or suppliers, in addition to Innovation
Metals Corp. ("IMC"), as suppliers for Ucore's expected
future Alaska Strategic Metals Complex ("Alaska SMC"). Ucore
has also assumed that sufficient external funding will be found to
prepare a new National Instrument 43-101 ("NI 43-101")
technical report that demonstrates that the Bokan Mountain Rare
Earth Elements project ("Bokan") is feasible and
economically viable for the production of both REE and co-product
mineral materials and metals and the then prevailing market prices
based upon assumed customer off-take agreements. Ucore has also
assumed that sufficient external funding will be secured to develop
the specific engineering plans for the Alaska SMC and its
construction. Factors that could cause actual results to differ
materially from those in forward-looking statements include,
without limitation: IMC failing to protect its intellectual
property rights in RapidSX™; RapidSX failing to demonstrate
commercial viability in large commercial-scale applications; Ucore
not being able to procure additional key partners or suppliers for
the Alaska SMC; Ucore not being able to raise sufficient funds to
fund the specific design and construction of the Alaska SMC and/or
the continued development of RapidSX; adverse capital-market
conditions; unexpected due-diligence findings; the emergence of
alternative superior metallurgy and metal-separation technologies;
the inability of Ucore and/or IMC to retain its key staff members;
a change in the legislation in Alaska and/or in the support expressed by the
Alaska Industrial Development and Export Authority ("AIDEA")
regarding the development of Bokan and/or the Alaska SMC; the
availability and procurement of any required interim and/or
long-term financing that may be required; and general economic,
market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined by the TSXV) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Ucore Rare Metals Inc.