NetworkNewsBreaks – Ucore Rare Metals Inc. (TSXV
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Posted On: 09/03/2025 4:27:06 PM
NetworkNewsBreaks – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) Completes Automatic Conversion of Remaining $1.1M Convertible Debentures
Ucore Rare Metals (TSXV: UCU) (OTCQX: UURAF), a company focused on rare earth element separation and supply chain innovation, announced that the final $1.1 million of convertible debentures issued in May 2020 have been automatically converted into equity following the triggering of a conversion clause tied to the Company’s share price performance. With this automatic conversion, Ucore issued 1,222,219 common shares and 611,108 warrants, and no debentures remain outstanding.
Originally, 2,800 debentures were issued at $1,000 each with 7.5% annual interest, later amended in 2024 to mature on Jan. 31, 2026, with a conversion price of $0.90 per unit. The conversion was triggered after Ucore’s shares closed at $2.20 or higher on the TSX Venture Exchange for 20 consecutive trading days, reaching this threshold on Sept. 2, 2025. Certain debentures were held by related parties, including Chairman and CEO Pat Ryan, though the transaction is exempt from MI 61-101 minority approval requirements. No new insiders or control persons were created in connection with the conversion.
NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://nnw.fm/UURAF
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Ucore Rare Metals (TSXV: UCU) (OTCQX: UURAF), a company focused on rare earth element separation and supply chain innovation, announced that the final $1.1 million of convertible debentures issued in May 2020 have been automatically converted into equity following the triggering of a conversion clause tied to the Company’s share price performance. With this automatic conversion, Ucore issued 1,222,219 common shares and 611,108 warrants, and no debentures remain outstanding.
Originally, 2,800 debentures were issued at $1,000 each with 7.5% annual interest, later amended in 2024 to mature on Jan. 31, 2026, with a conversion price of $0.90 per unit. The conversion was triggered after Ucore’s shares closed at $2.20 or higher on the TSX Venture Exchange for 20 consecutive trading days, reaching this threshold on Sept. 2, 2025. Certain debentures were held by related parties, including Chairman and CEO Pat Ryan, though the transaction is exempt from MI 61-101 minority approval requirements. No new insiders or control persons were created in connection with the conversion.
NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://nnw.fm/UURAF
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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