Ucore Appoints Clarke as Board Member
HALIFAX, NOVA SCOTIA--(Marketwired - Oct 31, 2013) - Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or the "Company") is pleased to announce the appointment of Mr. Geoff Clarke to its Board of Directors, effective October 30, 2013.
"Our current focus is to increase shareholder value through the aggressive yet cost efficient development of our rare earth mineral property in Alaska while maintaining a commitment to proud community and environmental considerations," stated Jim McKenzie, President & CEO of Ucore. "The addition of Geoff Clarke to our Board of Directors deliberately adds various skills, experiences and relationships that further supplements and complements the mix that had existed."
Mr. Clarke has almost 20 years of varied experience in investment banking, financial advisory, corporate and securities law as well as teaching experience at the university level in the fields of business law and corporate finance. He holds a Bachelor of Commerce degree from McMaster University, an MBA from McGill University, a Bachelor of Laws degree from Queen's University and a Master of Laws degree from Osgoode Hall Law School at York University. Mr. Clarke began his capital markets industry career in the corporate finance division of a TSX Member firm, rising quickly to the level of Executive Vice-President, Corporate Finance in 1997. He transitioned to practicing corporate and securities law in 2002 and he later became a Partner at Fasken Martineau DuMoulin LLP, a leading Canadian-based international law firm and a six-times recipient of a global "Mining Law Firm of the Year" award. As a lawyer, his practice principally involved advising clients in regard to securities offerings, merger and acquisition activities, corporate governance matters and securities regulatory matters. In late 2010, Mr. Clarke left Fasken Martineau to become the President of a full-service institutional investment dealer, where he remained until this year. His role at the investment dealer included providing financial and strategic advice to mining industry companies and investors regarding off-take agreements, joint-ventures, strategic partnerships and raising capital.
Commensurate with his appointment, Mr. Clarke will be granted 250,000 stock options, subject to the approval of the TSX Venture Exchange. The options are exercisable at a price of $0.26 per share and will expire five years from October 30, 2013, the date of the grant. One third of the options will vest six months after the date of the grant, with an additional third to vest every six months thereafter until fully vested.
About Ucore Rare Metals Inc.
Ucore Rare Metals Inc. is an early stage mine development company focused on rare earth elements, strategic and technology metals. With multiple projects across North America, Ucore's primary focus is the 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 expediting mine production and limiting the capital costs associated with mine construction. The Bokan properties are located in an area reserved for sustainable resource development.
Jim McKenzie, President and CEO
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
