Ucore Rare Metals Inc - UURAF STOCK NEWS

Ucore Rare Metals has received approval from the US Department of Defense (DoD) for a US$1.8 million payment under their modified Other Transaction Agreement. This payment, bringing total receipts to US$2.3 million, is for completing milestones at their RapidSX™ Commercial Demonstration Facility in Kingston, Ontario.

The project achievements include over 2,600 hours of Demo Plant operation processing mixed rare earth elements and thousands of hours of conventional SX pilot operation. The work aligns with the 2024 National Defense Authorization Act, which will ban rare earth products imports from China for defense industry use starting January 1, 2027.

The company will continue executing the DoD heavy REE Project through first half of 2025, followed by their C$4.28M light REE demonstration project with the Government of Canada.

Ucore Rare Metals (TSXV: UCU) (OTCQX: UURAF) highlights the strategic advantage of its new Strategic Metals Complex (SMC) located within the England Airpark Foreign Trade Zone (FTZ) in Alexandria, Louisiana. The location becomes particularly significant amid proposed increased tariffs and trade measures following recent political developments.

The FTZ designation allows both domestic and foreign commercial merchandise to be treated as if outside U.S. commerce for Customs purposes, potentially providing tariff and tax relief. This advantage positions Ucore to assist customers in developing secure rare earth supply chains that comply with Department of Defense (DoD) acquisition regulations, especially important as DoD must begin sourcing rare earths from non-Chinese sources.

Ucore Rare Metals (TSXV: UCU) (OTCQX: UURAF) has announced two significant corporate updates. First, the company plans to extend the term of 7,055,795 common share purchase warrants by 12 months, moving the expiry date to December 22, 2025. These warrants, originally issued in December 2022, maintain their $0.85 strike price. Of these warrants, 1,785,000 are held by Orca Holdings, , owned by board member Randy Johnson.

Additionally, Ucore has entered into a six-month marketing agreement with Outside the Box Capital Inc. (OTBC) for $150,000. OTBC will provide marketing consulting and investor relations services, focusing on social media channels and online media distribution. The agreement runs until April 28, 2025, and requires TSX Venture Exchange approval.

Ucore Rare Metals has completed a non-brokered private placement, raising $2,401,665 through the issuance of 4,803,329 units at $0.50 per unit. Each unit includes one common share and half a warrant, with each full warrant exercisable at $0.75 for 24 months. The proceeds will fund feedstock agreements, customer offtake agreements, and engineering plans for the Strategic Metals Complex in Louisiana, along with debt servicing and working capital. Insiders Pat Ryan and Orca Holdings purchased 2,856,330 units for $1,428,165. The offering is subject to TSXV final approval, with securities having a four-month hold period.

Ucore Rare Metals announces a non-brokered private placement offering of 4,803,329 units at $0.50 per unit, aiming to raise $2,401,665. Each unit includes one common share and half a warrant, with each full warrant exercisable at $0.75 for 24 months. Insiders will purchase 2,856,330 units for $1,428,165. The proceeds will fund feedstock agreements, customer offtake agreements, engineering plans for the Strategic Metals Complex in Louisiana, debt servicing, and working capital. The offering, subject to TSXV approval, is expected to close around November 14, 2024.

Ucore Rare Metals reports 60% completion of objectives in its US$4 million Department of Defense (DoD) project at its Kingston, Ontario Commercialization and Demonstration Facility. The company's 52-Stage RapidSX™ Demonstration Plant has achieved significant milestones, including processing over 3 tonnes of rare earth elements and producing over 57,000 liters of rare earth chloride solutions. The project demonstrates that RapidSX™ technology performs equal to or better than conventional separation methods, supporting its planned implementation at the Louisiana Strategic Metals Complex. The company has conducted approximately thirty facility tours with various stakeholders, leading to preliminary agreements for supply and offtake arrangements.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) has provided an update on the commercialization of its RapidSX™ rare earth separation technology. The company is demonstrating the technology at its Commercialization and Demonstration Facility (CDF) in Kingston, Ontario, while also trialing ancillary systems for its future Louisiana Strategic Metals Complex (SMC). Key developments include:

1. Processing mixed rare earth oxide and carbonate feedstocks
2. Developing ancillary processing systems
3. Conducting product qualification for potential Western partners
4. Operating a 52-stage RapidSX™ Demonstration Plant
5. Designing and testing various processes, including cerium depletion and yttrium removal
6. Producing rare earth oxides for end-user qualifications

These advancements position Ucore as a potential first mover in Western commercial heavy rare earth processing, aiming to disrupt China's control of the North American REE supply chain.

ABx Group (ASX: ABX) and Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) have signed a Memorandum of Understanding (MOU) on September 3, 2024, to establish an Australia-USA rare earths supply chain. The key objectives include:

1. Working towards a binding offtake agreement for ABx to supply mixed rare earth carbonates (MREC) to Ucore
2. Exploring Ucore's investment opportunity in ABx's rare earths project in Tasmania
3. Strengthening US-Australia relations in critical minerals and clean energy projects

The MOU aims for Ucore to obtain 'first right of refusal' for 50% of ABx's annual volume for a minimum of five years. Both companies will collaborate on product flowsheet optimization, project development strategies, and share information on global rare earth markets.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) has made several corporate updates. The company has granted 965,000 stock options to directors, officers, employees, and consultants, exercisable at $0.70 per share with a five-year expiry. Additionally, 960,000 restricted share units were granted to officers and employees, vesting over three years.

Ucore has also amended the terms of 1,145 convertible debentures originally issued in May 2020. The maturity date has been extended to January 31, 2026, and the conversion price reduced from $1.20 to $0.90 per unit. The warrant exercise price associated with these debentures has been adjusted from $1.80 to $1.30 per Common Share.