Ucore Rare Metals (TSE:UCU) has released an update.
Ucore Rare Metals Inc. has announced plans to extend the maturity date of its 2020 Convertible Debentures to January 31, 2026, and amend its conversion terms, offering a conversion price of $0.90 per unit with associated warrants. The company will pay a restructuring fee equivalent to six months of interest, with these changes subject to TSX Venture Exchange approval. As part of the amendments, holders of over $1 million in debentures have agreed to the new terms, including transactions involving the company’s executives, which are exempt from certain formal valuation requirements.
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