Ucore Rare Metals Closes C$69M Bought Deal at C$2.80, Over-Allotment Exercised in Full to Fund Louisiana Rare-Earth Complex

Ucore Rare Metals Inc. (TSXV: UCU, OTCQX: UURAF) closed a bought-deal public offering on August 13, 2026, raising C$69,004,600 in aggregate gross proceeds — the over-allotment option exercised in full.

The company sold 24,644,500 common shares at C$2.80 per share, per the closing announcement published August 13, 2026 on Mining.com. That total includes 3,214,500 shares issued under the over-allotment.

The deal was first announced August 6, 2026 at C$60,004,000 for 21,430,000 shares, with underwriters granted an option to purchase an additional 15% within 30 days of closing. Both the base deal and the full over-allotment closed on schedule.

Red Cloud Securities Inc. acted as sole bookrunner and co-lead underwriter; B. Riley Securities, Inc. served as co-lead underwriter. Underwriters received a cash fee equal to 6% of most proceeds, per the Investing News Network's August 13, 2026 report.

Net proceeds are directed to the development of Ucore's Louisiana Strategic Metals Complex (SMC) and for working capital and general corporate purposes, according to the company's public disclosures. The Louisiana facility sits alongside more than US$18 million of U.S. Department of Defense investment already tied to the project. A separate conditional C$36.3-million Canadian federal funding package — approximately US$26.5 million — is linked to Ucore's Kingston, Ontario plant, per Kalkine and Investing News Network reporting from August 6 and 13, 2026.

The Kingston facility is being engineered to house a first-of-its-kind commercial rare-earth refining operation built around Ucore's proprietary RapidSX separation technology, targeting samarium (Sm) and gadolinium (Gd) production. The Louisiana SMC is advancing on a parallel track as the company's broader commercial scale-up, per Resource World's August 6, 2026 coverage.

The financing closed against the backdrop of a 52-week trading range of C$2.21 to C$13.07, per Resource World. The C$2.80 offering price sat near the bottom of that range. On announcement day, UCU fell 5.23% on August 6, 2026, closing at C$3.26 on the TSX Venture Exchange on volume of approximately 592,900 shares — a relative volume reading of 1.67 compared to a typical session, per Kalkine. The stock's market value stood at C$400.6 million at that close.

The over-allotment option — covering 3,214,500 shares — was exercised in full within the 30-day window, per the Mining.com closing announcement of August 13, 2026. The August 10, 2026 prospectus supplement is filed on SEDAR+.

The most recent analyst rating on the stock, per TipRanks, is a Buy with a C$12.00 price target.

Peter Manuel, Ucore's Vice President and Chief Financial Officer, is the named contact for the offering disclosure and can be reached at 1.902.482.5214.

Net proceeds are designated, per company disclosures, to the continued development build-out of the Louisiana SMC and the Kingston RapidSX commercial facility.