Ucore Rare Metals Inc (UURAF)

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Important Updates for Ucore Shareholders

Halifax, Nova Scotia (March 31, 2020) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (“Ucore” or the “Company”) is pleased to provide updates on matters of significance to its shareholders, specifically: (1) commentary regarding the novel coronavirus (or “COVID-19”) and the world’s need for diversified supply chains; and (2) updated information concerning the Company’s legal proceedings pertaining to its prospective acquisition and integration of IBC Advanced Technologies, Inc. (“IBC”).

1. COVID-19: Company Update & Commentary On Globalization

Ucore has implemented a number of measures regarding the COVID-19 pandemic. These include social distancing, work-from-home provisions, limits on the number of employees permitted to meet in person, cleaning and upkeep protocols, as well as an effective ban on corporate travel. These measures are to protect its employees, business associates and neighbours as the Company continues to conduct its day-to-day business affairs in pursuit of the MINE-to-METAL-to-MARKET Plan of Action (the “M3 Plan of Action”, or the “Plan”).

“The current crisis underscores the extremely vulnerable nature of critical materials supply chains in the U.S.,” said Pat Ryan, Chairman of Ucore. “Globalization and single-source foreign dependencies are not mitigating this risk – they are enhancing it . Most urgent among these vulnerabilities are materials needed for widespread emergency health care and disaster relief, as well as unforeseen events affecting military and homeland security, ivncluding climate change, trade wars and foreign protectionist strategies. Ucore’s M3 Plan of Action responds to this, with a highly-attainable, globally competitive and nationally secure path to U.S. critical metals independence.”

“The Trump Administration has been highly proactive in the use of Executive Powers to address both the COVID-19 Pandemic and the Critical Materials Crisis,” said Jim Mckenzie, President & CEO of Ucore. “While these crises are vastly different in their importance, both are serious situations requiring immediate intervention in the domestic supply-chains, and both have triggered Presidential Determinations based on the Defense Production Act. The Ucore REE Consortium was organized further to our plan to facilitate near term production of critical metals indispensable to the U.S. Department of Defense. The recent unprecedented financial stimuli offered by the U.S. Federal Government are highly encouraging to us, and fit well with the M3 Plan of Action.”

[[ Please go to the link below for the Update on Prospective IBC Acquisition Legal Proceedings ]]

Read more at:
https://ucore.com/important-updates-for-ucore-shareholders