Ucore Rare Metals (TSE:UCU) has released an update.
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Ucore Rare Metals Inc. has announced amendments and extensions to its debt agreements with Orca Holdings, LLC, increasing the 2023 Line of Credit to USD$5.2 million and extending the maturity dates to October 1, 2026. In exchange, Ucore will issue 7.7 million new warrants to Orca, with varying exercise prices and an expiry date of October 1, 2026. These transactions, involving a member of Ucore’s Board of Directors, are exempt from the formal valuation requirements of MI 61-101.
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