Ucore Rare Metals Inc. is pleased to provide an update on the legal proceedings in Nova Scotia commenced on December 11, 2018 involving the prospective acquisition of IBC Advanced Technologies, Inc. . During a hearing on April 23, 2019, the Supreme Court of Nova Scotia dismissed a motion submitted by IBC and Steven R. Izatt asking the Court to dismiss or permanently stay proceedings before the Court on the basis that i [...]
Ucore Rare Metals Inc. is pleased to provide an update on the legal proceedings in Nova Scotia commenced on December 11, 2018. On March 25, 2019, the Nova Scotia Supreme Court confirmed amendments to Ucore's pleadings. The amendments expressly seek injunctive relief against IBC Advanced Technologies, Inc. , as well as explicitly seeking redress for IBC's alleged breach of the Option to Purchase Agreement between the [...]
Ucore Rare Metals Inc. is pleased to announce that the Company has entered into a secured loan agreement with Orca Holdings, LLC in the amount of CAD $3.6 million . The proceeds from the Loan will be used for general working capital purposes, and to dismiss any short term amounts owing to Orca over the next six months . The STO's include payments on the sale leaseback, and subsequent repurchase of the Company's Rare Earth [...]
Ucore Rare Metals Inc. announces that on Monday February 25, 2019 it filed a Request for Emergency Motion for Interim Injunction to the Supreme Court of Nova Scotia in response to IBC Advanced Technologies, Inc.'s February 19, 2019, Notice of Termination of the Option Agreement. The Court agreed to hear this request yesterday, February 27, 2019. The Company is pleased to announce the Court has granted an interim [...]
Ucore Rare Metals Inc. announces its acknowledgement of a press release issued by IBC Advanced Technologies, Inc. on February 20, 2019, at 9:00 AM EST. This press release purports to announce IBC's decision to terminate the letter agreement, dated March 14, 2015, between Ucore and IBC, entitled "Option to Purchase IBC", as amended and extended . "This is not an unexpected maneuver on the part of IBC, as Ucore exercises [...]
Ucore Rare Metals Inc. is pleased to announce that it has completed the shares for debt transaction originally announced on December 27, 2018 , after receiving the requisite approval of the TSX Venture Exchange to settle certain consulting fees payable to Orca Holdings, LLC. Pursuant to this settlement arrangement, the company has issued to Orca an aggregate of 2,702,702 common shares at a deemed price of 15 cents per [...]
Ucore Rare Metals Inc. is pleased to announce that it has negotiated that certain consulting fees payable to Orca Holdings, LLC shall be paid through the issuance of common shares in the capital of Ucore rather than a cash payment. Pursuant to this settlement arrangement, the Company has agreed to issue to Orca an aggregate of 2,702,702 Common Shares at a deemed price of CAD$0.15 per Common Share to settle an aggregate [...]
Ucore Rare Metals Inc. is pleased to announce that it has retained the services of the law firm of Cox & Palmer as the Company's Canadian legal counsel to respond to certain erroneous public assertions made by IBC Advanced Technologies Inc. and Mr. Steve Izatt on November 26, 2018, regarding the Company's Option to Purchase IBC , and to commence with a related court application. The OTP was signed by IBC and the holders [...]
Ucore Rare Metals Inc. is pleased to announce that it has closed its previously announced non-brokered private placement for total proceeds of $500,000, an increase from the initially expected $350,000 announced on November 30, 2018 . Subscribers to the Placement included Orca Holdings LLC and Concept Capital Management Ltd . A total of 3,333,333 units were issued at a price of $0.15 per unit, for total proceeds of [...]
Ucore Rare Metals Inc. is pleased to announce that it is conducting a non-brokered private placement of up to 2,333,333 units at $0.15 per unit, for total potential proceeds of $350,000 . Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant gives the holder the right to purchase one common share at an exercise price of $0.20 for a period of 36 months. The net [...]
Ucore Rare Metals Inc. is pleased to provide an update on the Company's recently announced intention to exercise its binding option to purchase IBC Advanced Technologies, Inc. of American Fork, Utah . Ucore has retained the services of the international law firm of Dorsey & Whitney LLP as the Company's U.S. legal counsel to facilitate the Transaction in accordance with the terms previously agreed to by Ucore, IBC and the [...]
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