NetworkNewsBreaks – Ucore Rare Metals Inc. (TSX.
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Posted On: 06/06/2023 4:28:33 PM
NetworkNewsBreaks – Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) Awarded $4M OT Agreement from US-DoD
Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF) today announced that through its wholly owned subsidiary, Innovation Metals Corp. (“IMC”), the company has been awarded a firm-fixed-price $4 million other transaction agreement* (“OT agreement” or “award”) by the U.S. Army Contracting Command-Orlando (“ACC-ORL” or “US-DoD”). The OT agreement is to conduct a Rare Earth Element (“REE”) Separation Technology Capabilities Prototype Project at the company’s RapidSX(TM) Commercialization and Demonstration Facility (“CDF”) in Kingston, Ontario. Ucore will utilize its 52-Stage RapidSX(TM) Demonstration Plant for the separation of mixed heavy and light REE concentrate feedstocks. “We believe that Ucore has one of the West’s most compelling rare-earth-supply chain business models,” said Pat Ryan, Ucore chairman and CEO. “This US-DoD Project will allow us to demonstrate the RapidSX(TM) technology platform for rare earth element separation and will include original equipment manufacturers’ qualification trials in coordination with our commercial development activities at the company’s planned Louisiana SMC.”
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Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF) today announced that through its wholly owned subsidiary, Innovation Metals Corp. (“IMC”), the company has been awarded a firm-fixed-price $4 million other transaction agreement* (“OT agreement” or “award”) by the U.S. Army Contracting Command-Orlando (“ACC-ORL” or “US-DoD”). The OT agreement is to conduct a Rare Earth Element (“REE”) Separation Technology Capabilities Prototype Project at the company’s RapidSX(TM) Commercialization and Demonstration Facility (“CDF”) in Kingston, Ontario. Ucore will utilize its 52-Stage RapidSX(TM) Demonstration Plant for the separation of mixed heavy and light REE concentrate feedstocks. “We believe that Ucore has one of the West’s most compelling rare-earth-supply chain business models,” said Pat Ryan, Ucore chairman and CEO. “This US-DoD Project will allow us to demonstrate the RapidSX(TM) technology platform for rare earth element separation and will include original equipment manufacturers’ qualification trials in coordination with our commercial development activities at the company’s planned Louisiana SMC.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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