Ucore Rare Metals Inc. Announces Filing of Preliminary Short Form Prospectus
18 Março 2013 - 4:17PM
OTC Markets
For
Immediate Release
Ucore Rare
Metals Inc. Announces Filing of Preliminary Short Form
Prospectus
March 15,
2013 – Halifax, Nova Scotia – Ucore Rare Metals Inc (TSX-V:UCU)
(the
“Company” or “Ucore”) announced
today that it has obtained a receipt for the
filing of a preliminary short form prospectus dated March
15,
2013, in all of the provinces of
Canada, except Québec, in
respect of an offering (the “Offering”)
of units of the Company (the “Units”). Each Unit will be comprised
of one
common share in the capital of the Company (a “Common
Share”) and one half of one Common Share purchase
warrant
(the “Warrants”, and each a
“Warrant”). The price of each unit will
be determined prior to the filing of the final short form
prospectus (the “Offering Price”). Each whole
Warrant
will entitle the holder thereof to purchase one Common Share for a
period to be
determined prior to the filing of the final short form prospectus.
The Offering
is subject to certain conditions including, but not limited to, the
receipt of all
necessary approvals, including the acceptance of the TSX Venture
Exchange.
The Offering will be conducted on a best
efforts agency basis.. The agents acting on behalf of the Company
for the
Offering (the “Agents”) will be
granted an option (the “Over-Allotment
Option”), exercisable at any time until 30 days following
the closing of
the Offering, to sell up to such number of additional Units at the
Offering Price
or additional Warrants at the Offering Price less the value of the
Common
Shares, as is equal to 15% of the number of Units sold pursuant to
the
Offering, to cover over-allotments, if any, and for market
stabilization
purposes.
In consideration for the services to be
rendered by the Agents under the Offering, the Agents will receive
a cash
commission of 6% of the gross proceeds of the Offering (including
any Units
issued as a result of the exercise of the Over-Allotment Option).
The Agents
will also receive broker warrants to purchase an aggregate number
of Common
Shares equal to 6% of the number of Units issued under the Offering
(including
Units issued upon exercise of the Over-Allotment
Option).
The Company plans to use
the proceeds of the Offering to fund continued development of
the
Bokan Mountain / Dotson Ridge property in Alaska,
including environmental
studies and permitting, continued metallurgical testing including
pilot plant
scale magnetic sorting and extraction testing, additional field
drilling and
preparation of a feasibility study and for working capital and
general
corporate purposes.
About Ucore Rare Metals
Inc.
The Company is a
development-phase mining company focused on establishing rare metal
resources
with near term production potential. With multiple projects across
North
America, the Company’s primary focus is the 100% owned Bokan
Mountain / Dotson
Ridge REE property in Alaska. The Bokan Mountain / Dotson Ridge REE
property 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.
For further information,
please contact Mr. Jim McKenzie, President and Chief Executive
Officer of Ucore
Rare Metals Inc. at: (902) 482-5214 or visit
http://www.ucore.com
Note: A preliminary prospectus
containing
important information relating to these securities has been filed
with
securities commissions or similar authorities in certain
jurisdictions of
Canada. The preliminary prospectus is still subject to completion
or amendment.
Copies of the preliminary prospectus may be obtained from Byron
Capital Markets
Ltd. at ecm@byroncapitalmarkets.com.
There will not be any sale or any acceptance of an offer to buy
the
securities until a receipt for the final prospectus has been
issued.
Neither the TSX Venture Exchange
nor is
Regulation Services Provider (as that term is defined in the
policies of the
TSX Venture Exchange) accepts responsibility for the accuracy of
this release.
This press release contains
"forward-looking statements" within the meaning of applicable
Canadian securities legislation. Generally, forward-looking
statements can be
identified by the use of forward- looking terminology.
Forward-looking
statements are subject to known and unknown risks, uncertainties
and other
factors that may cause the actual results, performance or
achievements of the Company to be materially
different from those expressed or implied by such forward-looking
statements.
Although the Company has attempted
to
identify important factors that could cause actual results to
differ materially
from those contained in forward-looking statements, there may be
other factors
that cause results not to be as anticipated, estimated or intended.
There can
be no assurance that such statements will prove to be accurate, as
actual
results and future events could differ materially from those
anticipated in
such statements. Accordingly, readers should not place undue
reliance on
forward-looking statements. The Company does not undertake to
update any
forward-looking statements that are contained herein, except
in
accordance with applicable
securities laws.
Further information on the Company is available under the Company’s
profile at www.sedar.com.
The securities have not been and
will not
be registered under the United States Securities Act of 1933, as
amended (the “U.S.
Securities
Act”) or the securities laws of any
state of the United States, and may not be offered or sold,
directly or
indirectly, in the United States or to “U.S. persons”, as such term
is defined
in Regulation S under the U.S. Securities Act (“U.S.
Persons”), unless registered under the U.S. Securities Act
and
applicable securities laws of any state of the United States or in
reliance on
an exemption from such registration requirements. This news release
does not constitute
an offer to sell or a solicitation of an offer to buy any of the
Company’s
securities set out herein to, or for the account or benefit of,
persons in the
United States or U.S. Persons.
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