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

Ucore Rare Metals Inc. has successfully closed an oversubscribed brokered private placement with each unit priced at $1.20, a financial development that strengthens the company's position in establishing North American independence in rare and critical metals supply. 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 advancement of Ucore's Strategic Metals Complex in Louisiana, a project designed to challenge the current dominance of the People's Republic of China in the global rare earth elements market.

The net proceeds from this placement are allocated to several strategic initiatives critical to the company's growth and North America's supply chain security. These include securing essential 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, subject to final approval from the TSX Venture Exchange. This level of investor confidence reflects the strategic importance of developing domestic rare earth processing capabilities.

Ucore's comprehensive approach extends beyond the Louisiana facility to include planned operations in Canada and Alaska, with the company's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project in Southeast Alaska representing a cornerstone of its long-term strategy. The company's focus on advanced metal separation technologies positions it as a potential leader in transforming how North America sources and processes critical materials essential for modern technologies, including electronics, renewable energy systems, and defense applications. This development comes at a crucial time when global supply chain vulnerabilities have highlighted the strategic importance of domestic rare earth production capabilities.

The successful funding round represents more than just a corporate achievement for Ucore Rare Metals Inc., marking a significant advancement in North America's pursuit of strategic independence in the rare and critical metals sector. By developing domestic processing capabilities and reducing reliance on foreign sources, particularly China, this initiative addresses national security concerns while supporting the growth of advanced manufacturing industries across the continent. The industry's strong response to this private placement demonstrates recognition of both the strategic necessity and commercial potential of establishing resilient North American supply chains for these essential resources.