Ucore Rare Metals ( (TSE:UCU) ) has shared an update.
Ucore Rare Metals Inc. has secured a $2 million investment through a non-brokered private placement from Hondo Private Equity LLC, controlled by Shawn Matthews of Hondius Capital Management. The investment underscores Ucore’s strategic expansion plans, particularly its innovative approach to processing rare earths at its Louisiana site, which aligns with its goal to enhance rare earth supply chains in the United States. The funds will be used for general corporate working capital, and the offering is pending final approval from the TSX Venture Exchange.
More about Ucore Rare Metals
Ucore Rare Metals Inc. operates in the rare metals industry, focusing primarily on the processing of rare earth elements. The company is leveraging advanced technology to enhance its operations, particularly at its facility in Louisiana, aiming to strengthen the supply chain for rare earth elements in the United States.
YTD Price Performance: -9.46%
Average Trading Volume: 34,468
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$44.9M
See more data about UCU stock on TipRanks’ Stock Analysis page.