Ucore Rare Metals Inc. has entered into an agreement for a bought deal public offering to raise C$60,004,000 in gross proceeds through the issuance of 21,430,000 common shares at a price of C$2.80 per share.

The transaction is structured with Red Cloud Securities acting as sole bookrunner and co-lead underwriter alongside B. Riley Securities on behalf of an underwriter syndicate. The financing arrangement includes a cornerstone order from a leading fundamental global institutional investor.

Under the terms of the agreement, underwriters hold an over-allotment option to purchase up to an additional 15% of the common shares sold in the offering at the issue price. This option remains exercisable in whole or in part for up to 30 days following the closing date to cover overallotments and for market stabilization purposes. Net proceeds from the financing will be directed toward funding the development of the Louisiana Strategic Metals Complex (LSMC), alongside allocations for working capital and general corporate purposes.

The financing is subject to customary closing conditions, including the execution of the formal underwriting agreement and receipt of all necessary regulatory authorizations. This includes securing formal approval from the TSX Venture Exchange. The offering is scheduled to close on or about August 13, 2026.

The current raise marks a significant scaling up of capital acquisition compared to the company's previous brokered private placement in June 2025, which raised C$15.5 million at C$1.20 per unit. That earlier transaction delivered a substantially smaller raise at a lower issue price than the C$60 million bought deal public offering.

Ucore previously conducted rare earth element separation work at its RapidSX Commercial Demonstration Facility located in Kingston, Ontario, supporting its ongoing technological development.

In the market session preceding the announcement, Ucore shares closed at C$3.26, down 5.23% on August 6, 2026, with 592,859 shares traded.

Read the full announcement: Ucore Announces $60 Million Bought Deal Public Offering of Common Shares