Ucore Rare Metals Files Short Form Prospectus; Shares Down 13%
Ucore Rare Metals Inc (UCU.V) has obtained a receipt for the filing of a preliminary short form prospectus dated March 15, 2013, in all of the provinces of Canada, except Quebec, in respect of an offering of units of the company.
The company plans to use the proceeds of the offering to fund continued development of the Bokan Mountain/Dotson Ridge property in Alaska, including environmental studies and permitting, continued metallurgical testing including pilot plant scale magnetic sorting and extraction testing, additional field drilling and preparation of a feasibility study, and for working capital and general corporate purposes.
UCU shares fell five cents to $0.32.
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