Ucore Rare Metals Secures Oversubscribed Funding for North American Critical Metals Independence

Ucore Rare Metals Inc. has successfully closed an oversubscribed brokered private placement with each unit priced at $1.20, marking a crucial financial milestone for advancing North America's self-sufficiency in rare and critical metals. The placement, led by Red Cloud Securities Inc. with Raymond James Ltd. serving as co-agent, structured each unit to include one common share and one-half of a warrant exercisable at $1.75 for 36 months. This financing initiative directly supports the company's Strategic Metals Complex development in Louisiana, a project designed to challenge the current supply chain dominance maintained by the People's Republic of China in the rare earth elements sector.

The net proceeds from this placement are allocated toward several strategic objectives including securing feedstock and offtake agreements, fulfilling commitments to both the U.S. Department of Defense and Natural Resources Canada, advancing commercial testing protocols, and making substantial engineering progress. With the agents' option still available for exercise, the total gross proceeds could potentially reach $11.5 million upon receiving final approval from the TSX Venture Exchange. This financial backing demonstrates strong market confidence in Ucore's approach to addressing critical supply chain vulnerabilities that have concerned North American defense and technology sectors for years.

Ucore's comprehensive strategy extends beyond the Louisiana facility with planned additional complexes in Canada and Alaska, creating a North American network for rare earth element processing and separation. The company's long-term vision incorporates leveraging its fully controlled Bokan-Dotson Ridge Rare Heavy REE Project located in Southeast Alaska, positioning Ucore as a technological leader in advanced metal separation methodologies. This multi-faceted approach represents a strategic response to growing geopolitical concerns about reliance on single-source suppliers for materials essential to national security, renewable energy technologies, and advanced electronics manufacturing.

The successful funding round underscores the increasing recognition within investment circles and government agencies of the strategic importance of developing domestic capabilities in rare and critical metals processing. As global competition for these essential resources intensifies, Ucore's progress signals a meaningful shift toward establishing North American independence in a sector previously dominated by international suppliers. This development carries significant implications for supply chain security across multiple industries including defense, clean energy, and advanced manufacturing, where reliable access to rare earth elements has become increasingly critical for technological advancement and economic competitiveness.