Ucore Rare Metals completes US$10 million private placement

On December 9, 2010, Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) announced that it had closed its previously announced brokered private placement of 25,000,000 units at $0.40 per unit for gross proceeds of $10,000,000. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant gives the holder the right to purchase one common share at a price of $0.55 for a period of 24 months from the Closing Date. The offering was led by Byron Securities Limited with Pope & Company acting as syndicate agent. Ucore Rare Metals Inc. is a junior exploration company focused on establishing REE and uranium resources through exploration and property acquisition. Byron Securities was advised in this transaction by Fasken Martineau with a team that included Rubin Rapuch, Brad Freelan and Francesco Tallarico.