RockBreaks – 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…