Business News • MarketWire • Orca Holdings, LLC Exercises Its Right to Convert Production Royalty Into Common Shares of Ucore Rare Metals Inc. |
Orca Holdings, LLC Exercises Its Right to Convert Production Royalty Into Common Shares of Ucore Rare Metals Inc. |
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Orca Holdings, LLC Exercises Its Right to Convert Production Royalty Into Common Shares of Ucore Rare Metals Inc.
KETCHIKAN, ALASKA--(Marketwired - Jan. 17, 2016) - Pursuant to the terms and conditions of an agreement (the "Royalty Agreement") between Ucore Rare Metals Inc. ("Ucore") (TSX VENTURE:UCU)(OTCQX:UURAF) and Orca Holdings, LLC ("Orca"), dated May 12, 2015, Orca has exercised its right to convert (the "Royalty Conversion") its previously-acquired royalty, as described in the press releases of Ucore dated May 20, 2015 and June 12, 2015 (the "Royalty"), into common shares of Ucore ("Common Shares") at a price of CDN$0.25 per Common Share. The Royalty Conversion remains subject to applicable regulatory approvals. Orca paid an aggregate of USD$4.3 million to Ucore to acquire the Royalty.
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