Ucore Grants Incentive Stock Options
September 11, 2015 (Source: Marketwired) — Ucore Rare Metals Inc. (TSX VENTURE:UCU) (OTCQX:UURAF) (“Ucore” or the “Company”) advises that an aggregate of 2,850,000 options have been granted to directors, officers, employees and consultants of the Company, subject to the approval of the TSX Venture Exchange. The options are exercisable at a price of $0.28 and will expire on September 11, 2020. One third of the options will vest after six months, with one third vesting every six months thereafter until fully vested. Additionally, the Company has granted 392,800 Deferred Share Units (“DSU”) to directors and officers of the Company further to the approval of its Deferred Share Unit Plan by shareholders at its most recent Annual General Meeting. Twenty-five percent of the DSU’s vest immediately, with an additional 25% vesting annually until fully vested.
Ucore Rare Metals Inc. is a development-phase mining company focused on establishing rare metal resources and beneficiation technologies with near term potential for production, growth and scalability. With multiple projects across North America, Ucore’s primary focus is the 100% owned Bokan-Dotson Ridge REE property in Alaska. The Bokan-Dotson Ridge REE project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in developing near term production facilities and limiting the capital costs associated with mine construction.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined by the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.