Ucore closes C$69 million bought-deal offering

Canada NewsWire

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HALIFAX, NS , Aug. 13, 2026 /CNW/ -- Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (" Ucore " or the " Company ") is pleased to announce the closing of its previously announced "bought deal" public offering (the " Offering ") for aggregate gross proceeds of C$69,004,600, which includes the exercise in full of the over-allotment option (the " Over-Allotment Option ") for gross proceeds of C$9,000,600. Pursuant to the Offering, Ucore sold a total of 24,644,500 common shares (the " Common Shares ") of the Company at a price of C$2.80 per Common Share, which includes 3,214,500 Common Shares sold pursuant to the exercise of the Over-Allotment Option. Red Cloud Securities Inc. (" Red Cloud ") acted as sole bookrunner and co-lead underwriter, and B. Riley Securities, Inc. acted as co-lead underwriter (collectively with Red Cloud, the " Underwriters ").

The Company intends to use the net proceeds from the Offering to fund the development of the Company's Louisiana Strategic Metals Complex (" SMC "), and for working capital and general corporate purposes, as further described in the Prospectus Supplement (as defined below).

The Common Shares were offered for sale in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan pursuant to a prospectus supplement dated August 10, 2026 (the " Prospectus Supplement "), which supplements the Company's (final) short form base shelf prospectus dated June 30, 2026 (the " Base Shelf Prospectus ", and collectively with the Prospectus Supplement, the " Prospectus "). Portions of the Offering were also sold in jurisdictions outside of Canada on a private placement or equivalent basis. The Prospectus was filed in each of the provinces and territories of Canada. Investors should read the Prospectus and other documents that the Company has filed for more complete information about the Company and the Offering. Copies of these documents are available under Ucore's profile on SEDAR+ at www.sedarplus.ca . The Offering remains subject to the final approval of the TSX Venture Exchange (the " TSXV ").

As consideration for their services in connection with the Offering, the Underwriters received an aggregate cash fee of C$4,125,276.04, which is equal to a cash fee of 6.0% of the gross proceeds of the Offering (other than in respect of the gross proceeds from the sale of Common Shares to purchasers under a President's List, which such gross proceeds were subject to a cash fee of 3.0% of such gross proceeds).

The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.