- Cascadia Motions (a wholly owned subsidiary of BorgWarner Inc.) to manufacture, commercialize, and sell a new generation of compact electric drive unit (EDU) integrating REEcorner technology with Cascadia Motion for inverter-motor modules OEM programs globally.
- Drive units expected to be available as off-the-shelf products at CascadiaMotion.com
- According to industry research estimates, the global EDU is projected to double by 2035, growing at a compound annual growth rate (CAGR) of approximately 9% from 2025 through 2035.
- REE anticipates the distribution of its REEcorner-based EDUs under a phased commercial plan, including a royalty-bearing arrangement that enables BorgWarner to manufacture the EDU.
TEL AVIV, Israel, Dec. 29, 2025 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE) (“REE” or the “Company”), an automotive technology company that develops software-defined vehicle (SDV) technology solutions, today announced a strategic non-binding Memorandum of Understanding (“MOU”) with Cascadia Motion, LLC (a wholly owned subsidiary of BorgWarner Inc.) (“Cascadia Motions”). The MOU outlines cooperation across manufacturing, commercialization, and sale of a next-generation electric drive unit (EDU) based on REEcorner technology for global OEM electrification programs. The new EDU product will be jointly developed by Cascadia Motion and REE.
As part of an expected phased commercial plan, including a royalty-bearing agreement, REE would grant Cascadia Motion an exclusive, time-limited option to distribute a uniquely packaged EDU that integrates Cascadia Motion’s iM-125 drive unit (motor and inverter) with REEcorner technology. Together, the companies aim to offer a compact, cross-platform EDU that is designed to help OEMs accelerate EV development. The new EDU combined with REE’s vehicle control units is intended to support higher levels of functional safety, including ASIL-D, and to improve efficiency and time to market through secure, stable over-the-air (OTA) updates.
REE also plans to provide Cascadia Motion with access to its existing EDU assembly line, tooling, inventories, and supplier network to support manufacturing of the combined EDU Units, subject to negotiation of final terms and conditions.
“Integrating Cascadia Motion’s iM-125 drive unit with REEcorner technology bolsters our portfolio of off-the-shelf electric drive solutions, providing our customers with even more flexibility in their electrification programs,” said Joseph McHenry, General Manager of BorgWarner Portland and the Cascadia Motion brand. “This collaboration reflects our commitment to delivering innovative, ready-to-integrate drive units that help OEMs reduce development time and streamline vehicle launch.”
This arrives at a time when, according to certain industry research estimates and publications, the global EDU market is expected to grow by a compound annual growth rate (CAGR) of approximately 9% from 2025 through 2035. These publications further expect the EDU market size to double by 2035 due to increased demand for electric vehicles. REE believes that this arrangement positions both companies to offer OEMs a scalable, advanced EDU solution with near-term availability.
“We believe that this MOU with Cascadia Motions represents a natural progression of our three-year collaboration and reinforces our mission to accelerate the industry’s transition to software-defined, by-wire mobility,” said Daniel Barel, CEO and co-founder of REE Automotive. “We believe this collaboration positions us to meet global demand at scale while laying the groundwork for next-generation, fully by-wire solutions.”
In addition to the EDU-focused product offering, the parties plan to evaluate demand for complete SDV solutions, including standalone REEcorner units and REE’s software products, which can supplement this offering or present additional capabilities for OEMs. REE’s SDV technology is a purpose-built foundation that replaces legacy domain systems with centralized, zonal control that simplifies design, cuts wiring, and accelerates development of software-defined vehicles. REE’s zonal architecture combines the REEcenter ECU, REEzonal ECUs, and REEgateway into a high-performance network that unites software packages of advance vehicle dynamic, chassis control, body control, autonomy integration, safety systems, and connectivity. This integrated approach is designed to simplify complexity, accelerated development, and future-proof vehicle programs that aim to integrate seamlessly into diverse commercial OEM plans.
The MOU builds on REE’s momentum as OEMs increasingly seek modern, software-defined architectures that shorten development cycles and unlock new vehicle configurations, such as low and flat chassis design, improved functional safety, and on-going secure and stable OTA updates. REE’s advanced zonal SDV architecture integrates seamlessly with legacy systems to improve safety, performance, and reliability. By combining this architecture with Cascadia Motion’s propulsion systems, the companies believe they are positioned to support OEMs transitioning toward software-defined vehicles built for continuous improvement and long-term adaptability.
| REE EDU Performance @ Gearbox Output | |
| Motor Type | Permanent Magnet |
| Voltage | 400 V |
| Peak Torque, 30s | 3000 NM |
| Peak Power | 100 kW |
| Max Speed | 835 rpm |
| Max Cont. Torque | 2150 Nm |
| Max Cont. Power | 57 kW |
| Gear Ratio | 19.17 |
| Cooling | Water-Glycol (8LPM @65°C) |
| Weight | 54 kg |
About REE AutomotiveREE Automotive (Nasdaq: REE) is an automotive technology company that develops and produces software-defined vehicle (SDV) technology designed to manage vehicle operations and features through proprietary software. REE’s advanced Zonal SDV Architecture is designed to integrate seamlessly with legacy systems to improve vehicle safety, performance, and reliability. By centralizing key vehicle functions, the architecture seeks to enhance modularity, redundancy, and stability, and to enable safer and more efficient vehicle platforms. Powered by secured AI and deep over-the-air upgradability, REE’s technology allows for continuous updates and improvements throughout a vehicle’s lifespan. This makes Powered by REE® vehicles adaptable to customer and market changes and designed with future autonomy and connectivity in mind. REE was the first company to FMVSS certify a full by-wire vehicle in the U.S. Its proprietary by-wire technology for drive, steer, and brake control removes the need for mechanical linkages, supporting flexible design and optimized performance. Through its approach of “complete not compete,” REE enables original equipment manufacturers and technology companies to license its SDV technology, allowing them to design and build vehicles tailored to their specific requirements using REE’s scalable, future-ready platform. www.REE.auto
About BorgWarner:For more than 130 years, BorgWarner has been a transformative global product leader bringing successful mobility innovation to market. With a focus on sustainability, we’re helping to build a cleaner, healthier, safer future for all.
Media ContactKeren Shemesh Chief Marketing Officer for REE AutomotiveMedia@ree.auto
Investor ContactHai AvivChief Finance Officer for REE Automotiveinvestors@ree.auto
BorgWarner Media ContactMichelle CollinsGlobal Director, Marketing and Public Relationsmediacontact@borgwarner.com
Caution About Forward-Looking StatementsThis press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include, among others, statements regarding the performance of the terms of the MOU; the expected supply of REEcorner technology and REE-designed components for use in Cascadia Motion’s electric drive units; the anticipated development, manufacturing, commercialization, distribution, and sale of a next-generation EDU integrating REEcorner technology; the expected availability of drive units as off-the-shelf products; the anticipated phased commercial plan and royalty-bearing arrangement; the potential grant and exercise of any exclusive, time-limited option; the expected timing and scope of any supply, inventory utilization, tooling access, supplier network use, and manufacturing ramp; the parties’ evaluation of demand for complete software-defined vehicle solutions and additional product opportunities; the expected growth of the global EDU market; the belief that the arrangement positions both companies to offer OEMs a scalable, advanced EDU solution with near-term availability; the belief that the collaboration positions REE to meet global demand at scale while laying the groundwork for next-generation, fully by-wire solutions; and the anticipated benefits of the collaboration for OEM programs.
These forward-looking statements are based on current expectations and assumptions and involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied. The memorandum of understanding is non-binding and does not create enforceable obligations to purchase, sell, manufacture, commercialize, distribute, or supply any products, and does not include firm purchase orders or guaranteed volumes, notwithstanding certain optional purchase mechanisms and conditional minimum purchase provisions. Any commercialization, product availability, supply volumes, exclusivity arrangements, royalties, manufacturing rights, or other economic terms will depend on the negotiation and execution of definitive agreements and the placement of purchase orders, customer demand, successful technical development, operational readiness, and the parties’ ability to obtain required supplier and commercial arrangements, and may not occur as currently contemplated or at all. Factors that could cause actual results to differ are discussed in the sections entitled “Cautionary Note Regarding Forward-Looking Statements,” “Risk Factors,” and “Operating and Financial Review and Prospects” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 15, 2025, as updated by REE’s subsequent filings with the SEC. The forward-looking statements in this press release speak only as of the date of this press release, and we undertake no obligation to update any forward-looking statements.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e012b46f-cbee-47b1-8136-045f60e03f15
We feel now is a pretty good time to analyse Ucore Rare Metals Inc.'s (CVE:UCU) business as it appears the company may be on the cusp of a considerable accomplishment. Ucore Rare Metals Inc. engages in the extraction, beneficiation, and separation of rare and critical metal resources in Canada and the United States. With the latest financial year loss of CA$13m and a trailing-twelve-month loss of CA$33m, the CA$711m market-cap company amplified its loss by moving further away from its breakeven target. As path to profitability is the topic on Ucore Rare Metals' investors mind, we've decided to gauge market sentiment. Below we will provide a high-level summary of the industry analysts’ expectations for the company.
According to the 2 industry analysts covering Ucore Rare Metals, the consensus is that breakeven is near. They anticipate the company to incur a final loss in 2026, before generating positive profits of CA$26m in 2027. Therefore, the company is expected to breakeven roughly 2 years from now. How fast will the company have to grow each year in order to reach the breakeven point by 2027? Working backwards from analyst estimates, it turns out that they expect the company to grow 71% year-on-year, on average, which is extremely buoyant. Should the business grow at a slower rate, it will become profitable at a later date than expected.
TSXV:UCU Earnings Per Share Growth December 29th 2025
Underlying developments driving Ucore Rare Metals' growth isn’t the focus of this broad overview, but, keep in mind that generally a metal and mining business has lumpy cash flows which are contingent on the natural resource mined and stage at which the company is operating. This means that a high growth rate is not unusual, especially if the company is currently in an investment period.
Check out our latest analysis for Ucore Rare Metals
Before we wrap up, there’s one issue worth mentioning. Ucore Rare Metals currently has a relatively high level of debt. Generally, the rule of thumb is debt shouldn’t exceed 40% of your equity, which in Ucore Rare Metals' case is 48%. A higher level of debt requires more stringent capital management which increases the risk in investing in the loss-making company.
Next Steps:
There are key fundamentals of Ucore Rare Metals which are not covered in this article, but we must stress again that this is merely a basic overview. For a more comprehensive look at Ucore Rare Metals, take a look at Ucore Rare Metals' company page on Simply Wall St. We've also compiled a list of key aspects you should further research:
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Emerging Growth
MIAMI, Dec. 10, 2025 (GLOBE NEWSWIRE) — EmergingGrowth.com a leading independent small cap media portal announces the schedule of the 88th Emerging Growth Conference on December 10 & 11, 2025.
The Emerging Growth Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.
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Presenting Day 1 – Today – December 10, 2025
8:45Virtual Lobby opens.Register for the Conference. If you already registered, go back to the registration link and click “Already registered” and enter your email.
9:00Introduction
9:05 – 9:35OSR Holdings, Inc. (NASDAQ: OSRH)Keynote speakers: Peter Hwang, CEO, Constance Höfer, CSO and Chris Bang, CFO
9:40 – 10:10SBC Medical Group Holdings, Inc. (NASDAQ: SBC)Keynote speakers: Yuya Yoshida, Executive Vice President & CFO, and Hikaru Fukui / Head of Investor Relations
10:15 – 10:45Metavista3D Inc., (TSXV: DDD)Keynote speaker: Jeffrey R. Carlson, CEO & Director
11:25 – 11:55NioBay Metals, Inc. (TSXV: NBY) (OTCQB: NBYCF) Keynote speaker: Ludovick Bernier-Michaud, Investor Relations Consultant
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1:45 – 2:15Realbotix Corp. (OTCQB: XBOTF) (TSXV: XBOT)Keynote speaker: Andrew Kiguel Co-Founder, CEO
3:10 – 3:20Brazil Potash (NYSE American: GRO)Keynote speakers: Chris Naprawa VP Capital markets strategy
3:25 – 3:35Jaguar Health, Inc. (NASDAQ: JAGX)Keynote speaker: Lisa A. Conte, Founder, CEO, President & Director
3:40 – 3:50Puma Exploration, Inc. (OTCQB: PUMXF) (TSXV: PUMA)Keynote speaker: Marcel Robillard, CEO & President
3:55 – 4:0522nd Century Group, Inc. (NASDAQ: XXII) Keynote speaker: Lawrence D. Firestone, Chairman & CEO4:10 – 4:20Odyssey Marine Exploration, Inc. (NASDAQ: OMEX) Keynote speaker: Mark D. Gordon, Chairman & CEO4:25 – 4:35Clene Inc., (NASDAQ: CLNN) Keynote speakers: Rob Etherington, President / CEO
4:40 – 4:50Faraday Future Intelligent Electric, Inc. (NASDAQ: FFAI) Keynote speakers: Jerry Wang, Global President
Presenting Day 2 – Today – December 11, 2025
8:45Virtual Lobby opens.Register for the Conference. If you already registered, go back to the registration link and click “Already registered” and enter your email.
9:00Introduction
9:05 – 9:35Agnico Eagle Mines, Ltd. (NYSE: AEM) (TSX: AEM) Keynote speaker: Jean-Marie Clouet, Vice President of Investor Relations
9:40 – 10:10Highland Copper Company Inc. (OTCQB: HDRSF) (TSXV: HI)Keynote speaker: Barry O’Shea, CEO
10:15 – 10:45Vox Royalty Corp. (NASDAQ: VOXR) (TSX: VOXR) Keynote speakers: Kyle Floyd, Chairman, CEO & Chief Investment Officer10:50 – 11:20First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) Keynote speaker: John Passalacqua, CEO
11:25 – 11:55Ucore Rare Metals, Inc. (OTCQX: UURAF) (TSXV: UCU) Keynote speakers: Pat Ryan, CEO
12:00 – 12:30Power Metallic Mines Inc. (OTCBB: PNPNF) (TSXV: PNPN) Keynote speaker: Terrence Lynch President, CEO & Director
12:35 – 1:05Intrepid Metals Corp. (OTCQB: IMTCF) (TSXV: INTR)Keynote speaker: Mark Morabito, Chairman & CEO
1:10 – 1:40Mawson Infrastructure Group, Inc. (NASDAQ: MIGI)Keynote speaker: Kaliste Saloom, Interm CEO
1:45 – 2:15Nova Minerals Limited (NASDAQ: NVA) (ASX: NVA)Keynote speaker: Christopher Gerteisen – CEO & Executive Director
2:20 – 2:50Trigg Minerals Ltd. (OTCQB: TMGLF) (ASX: TMG)Keynote speaker: Andre Booyzen, Managing Director
2:55 – 3:05Bioxytran, Inc. (OTCQB: BIXT)Keynote speaker: Mike Sheikh, Executive Vice President Business Development3:10 – 3:20Citizens, Inc. (NYSE: CIA) Keynote speakers: Jon Stenberg, President / CEO, and Jeff Conklin, CFO
3:25 – 3:35Surface Metals Inc. (OTCQB: SURMF) (CSE: SUR) Keynote speaker: Steve Hanson, President & CEO
3:40 – 3:50StrikePoint Gold, Inc.’s (OTCQB: STKXF) (TSXV: SKP) Keynote speaker: Michael Gregory Allen, CEO, President & Director
3:55 – 4:05BitFuFu Inc. (NASDAQ: FUFU) Keynote speaker: Charley Brady, VP Investor Relations
4:10 – 4:20Vizsla Royalties Corp. (TSXV: VROY) (OTCQB: VROYF) Keynote speaker: Michael N. Pettingell, President and CEO
4:25 – 4:55Ionic Rare Earth, Ltd. (OTC: IXRRF) (ASX: IXR) Keynote speaker: Tim Harrison, Managing Director
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Founded in 2009, Emerging Growth.com quickly became a leader in its space and has developed an extensive history of identifying emerging growth companies that can be overlooked by the investment community.
About the Emerging Growth ConferenceThe Emerging Growth Conference is an effective way for public companies to engage with the investment community regarding their Company, new products, services and other major announcements from anywhere, in an effective and time efficient manner.
All sessions are conducted through video webcasts. Our conference serves as a vehicle for Emerging Growth to build relationships with our existing and potential clients. Accordingly, a certain number of the presenting companies are our current clients, and some may become our clients in the future. In exchange for services we provide, our clients pay us fees in the form of cash and securities, and we may currently have, or in the future may have investments in the securities of certain of the presenting companies. Finally, certain of the presenting companies have paid us a fee to secure a presentation time slot or to present generally. The presentations to be delivered by the presenting companies (including any virtual handouts of written materials) have not been approved, endorsed by or otherwise reviewed by EmergingGrowth.com nor should they in any way be construed to have been made in connection with an offer to sell or a solicitation of an offer to buy securities. Please consult an investment professional before investing in anything viewed on the Emerging Growth Conference or on EmergingGrowth.com.
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This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids ("NI 62-104") and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
KETCHIKAN, Alaska, Dec. 5, 2025 /CNW/ – This release is being made by Randy Johnson to report information concerning holdings of Mr. Johnson and Orca Holdings, LLC ("Orca") in Ucore Rare Metals Inc. (the "Issuer" or "Ucore"). Orca is wholly owned by Mr. Johnson, serving as a holding company for Mr. Johnson's securities holdings. Mr. Johnson has been a director of Ucore since October 6, 2020.
On December 4, 2025, at the direction of Mr. Johnson, Orca completed a secondary market sale (the "Disposition") of an aggregate of 20,000 common shares of the Issuer ("Common Shares") at an average price of approximately $6.60 per Common Share for aggregate consideration of $132,000. The Disposition was made in connection with Mr. Johnson's investment strategy, having regard for various factors including, without limitation, conditions in the securities markets and general economic and industry conditions, liquidity replenishment from recent exercise of warrants, estate planning and tax planning.
As a result of the Disposition, Mr. Johnson now beneficially owns, or has control or direction over, 10,646,736 Common Shares, representing approximately 9.84% of the issued and outstanding Common Shares, as of the date hereof.
As at the date of this press release, the Issuer reports having 108,205,120 Common Shares issued and outstanding.
Immediately prior to the completion of the Disposition, Mr. Johnson (being the sole and controlling shareholder of Orca) directly or indirectly held beneficial ownership of, and control and direction over, 10,666,736 Common Shares, 10,368,165 Common Share purchase warrants and 380,000 stock options of the Issuer, representing approximately 9.86% of the issued and outstanding Common Shares (on a non-diluted basis) or approximately 18.00% upon exercise of the warrants and the stock options (on a partially diluted basis, in the absence of the Condition Precedent). A number of the above-referenced Common Share purchase warrants are subject to a condition precedent to their exercise such that no such warrants shall be exercisable if such exercise would cause Mr. Johnson's direct or indirect ownership of the Issuer, as calculated on a partially diluted basis, to exceed 19.99% of the aggregate of the issued and outstanding Common Shares, unless the Issuer obtains prior shareholder approval in accordance with the applicable requirements of the TSXV (the "Condition Precedent").
Immediately following the completion of the Disposition, Mr. Johnson directly or indirectly held beneficial ownership of, and control and direction over, a total of 10,646,736 Common Shares, 10,368,165 Common Share purchase warrants and 380,000 stock options of the Issuer, representing approximately 9.84% of the issued and outstanding Common Shares (on a non-diluted basis) or approximately 17.99% upon the exercise of the warrants and the stock options (on a partially diluted basis, in the absence of the Condition Precedent, which applies to certain of the above-referenced Common Share purchase warrants).
Other Information
Mr. Johnson may, from time to time, directly or indirectly (through Orca) increase or decrease his shareholdings or continue to hold the Issuer's securities as Mr. Johnson may determine appropriate in the normal course of investment activities.
The Issuer is located in 210 Waterfront Drive, Suite 106, Bedford, Nova Scotia, Canada B4A 0H3, and Mr. Johnson is located in P.O. Box 8158, Ketchikan, Alaska, USA, 99901.
For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws by Mr. Johnson in connection with the transactions referred to in this press release, please see Ucore's profile on SEDAR+ at www.sedarplus.ca.
View original content: http://www.newswire.ca/en/releases/archive/December2025/05/c6157.html
Critical Metals Corp (NASDAQ:CRML) is one of the top lithium stocks to buy now. On August 26, the company signed a letter of intent for an offtake agreement with Ucore Rare Metals, a leader in rare and critical metal resources.
Under the terms of the agreement, Critical Metals is to supply up to 10,000 metric tons of rare earth concentrate from its Tanbreez Project. The concentrate is to be used as feedstock for Ucore’s rare earth element processing facility. While Ucore and Critical Metals are focused on lessening China’s grip on the rare earth ecosystem, they also remain focused on meeting the growing demand for rare earths and addressing national security challenges.
“Critical Metals Corp’s Tanbreez offers tremendous opportunities for Ucore given the significant concentration of heavy rare earths it contains, which are essential for our processing facility in Louisiana, and our downstream partners,” said Pat Ryan, Chairman and CEO of Ucore.
Critical Metals Corp (NASDAQ:CRML) is a mining exploration and development firm focused on identifying and advancing deposits of lithium and rare earth elements. It is developing the Wolfsberg Lithium Project in Austria, which is Europe’s first fully permitted lithium mine, to become a significant supplier of lithium products for the European market. The company focuses on mining critical minerals essential for electrification, such as lithium for batteries, as well as other strategic metals, including rare earth elements. While we acknowledge the potential of CRML as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Cheap Blue Chip Stocks to Invest in Now and 10 Best Robinhood Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Halifax, Nova Scotia–(Newsfile Corp. – September 3, 2025) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce that the last $1.1 million of the convertible debentures that were issued by the Company in May of 2020 (the "Convertible Debentures" of "Debentures") have been automatically converted into equity as a result of the triggering of a conversion clause in the Debenture agreement related to the Company's share price over the past twenty trading days (the "Automatic Conversion"). As a result of the Automatic Conversion, the Company today issued 1,222,219 units ("Units") and none of the Debentures remain outstanding.
A total of 2,800 Convertible Debentures were originally issued in May of 2020 at a price of $1,000 per Debenture and they bore interest at 7.5% per annum. The terms of the Debentures were amended in 2024 (see the Company's press release dated January 11, 2024). After the amendment, the Debentures had a maturity date of January 31, 2026. The amended conversion price was $0.90 per Unit, with each Unit consisting of 1 common share of the Company (a "Common Share") plus ½ Common Share purchase warrant (a "Warrant"). Each full Warrant is exercisable by the holder to purchase one Common Share at a price of $1.30 per share for a period ending on the maturity date of the Debentures, being January 31, 2026.
Pursuant to the terms of the Debenture agreement, the outstanding principal amount of each Convertible Debenture is to be automatically converted into Units at the conversion price ($0.90) if the Common Shares traded at a closing price of $2.20 or more on the TSX Venture Exchange for 20 consecutive trading days. On September 2, 2025, the Company's Common Shares traded at a closing price above $2.20 for the 20th consecutive trading day. As a result, the Debentures automatically converted into Units of the Company as outlined above.
Since May of 2020, and prior to the triggering of the Automatic Conversion, a total of 1,700 Debentures had already been converted to Units of the Company at the election of the holders or repaid. As a result of the Automatic Conversion, the remaining 1,100 Debentures have now been converted, resulting in the issuance of 1,222,219 Common Shares and 611,108 Warrants, with the above-noted terms.
Certain of the Convertible Debentures which were automatically converted were owned by a related party of the Company. Specifically, Pat Ryan (Ucore's Chairman and CEO) held 10 of the Convertible Debentures (representing a principal amount of $10,000). The above-described transaction with Mr. Ryan is considered to be a related party transaction within the meaning of Multilateral Instrument 61-01 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 since neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25% of the Company's market capitalization. No new insiders and no control persons were created in connection with the closing of the transactions.
# # #
About Ucore Rare Metals Inc.
Ucore is focused on rare-earth and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term development of a heavy and light rare-earth processing facility in the US State of Louisiana, subsequent SMCs in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA ("Bokan").
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements
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 business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing 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 or results, and actual results or developments may differ materially from those in forward-looking statements.
For additional risks and uncertainties regarding the Company, its business activities, its ability to qualify for and receive any additional funding from any U.S. or Canadian government, the CDF and the aforementioned projects (generally), see the risk disclosure in the Company's MD&A for Q2 2025 (filed on SEDAR+ on August 28, 2025) (www.sedarplus.ca) as well as the risks described below.
Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future SMCs. Ucore has also assumed that sufficient external funding will be found to continue and complete the ongoing research and development work required at the CDF and also later prepare a new National Instrument 43-101 technical report that demonstrates that Bokan is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction and eventual commissioning and operations. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority (AIDEA) regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.
CONTACTS
Mr. Peter Manuel, Ucore Vice President and Chief Financial Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.
For additional information, please contact:
Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264943
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Company Executives Share Vision and Answer Questions Live at VirtualInvestorConferences.com
NEW YORK, Aug. 29, 2025 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the Clean Energy Metals Virtual Investor Conference, held August 28th are now available for online viewing.
The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company’s resource section.
Select companies are accepting 1×1 management meeting requests through September 3rd.
August 28th
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Presentation |
Ticker(s) |
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Lake Resources NL |
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ACG Metals Limited |
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Talga Group Ltd. |
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CoTec Holdings Corp. |
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Neo Performance Materials Inc. |
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First Phosphate Cop. |
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Giga Metals Corp. |
|
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Terra Balcanica Resources Corp |
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District Metals Corp. |
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Graphite One Inc. |
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Lion Copper & Gold Corp. |
|
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Ucore Rare Metals, Inc. |
|
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Intrepid Metals Corp |
|
|
Resolution Minerals Ltd. |
|
|
Graphene Manufacturing Group Ltd. |
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact: OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com
Virtual Investor Conferences Contact:John M. ViglottiSVP Corporate Services, Investor AccessOTC Markets Group (212) 220-2221johnv@otcmarkets.com
Critical Metals Corp
Strategic LOI marks a major commercial milestone for the Company’s Tanbreez Project
10-year supply agreement of heavy rare earth concentrate from Tanbreez to Ucore’s U.S. Department of Defense funded Louisiana processing facility
NEW YORK, Aug. 26, 2025 (GLOBE NEWSWIRE) — Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp” or the “Company”), a leading critical minerals mining company, today announced that it has signed a letter of intent (LOI) for an offtake agreement with Ucore Rare Metals Inc (“Ucore”), a leader in rare-and critical-metal resources, extraction, beneficiation, and separation technologies.
Under the terms of the multi-year offtake arrangement, Critical Metals Corp expects to supply up to 10,000 metric tons annually of rare earth concentrate from its Tanbreez Project, which represents approximately 10% of the project’s initial projected production. After hydro-metallurgical processing, the concentrate will be used as feedstock for Ucore’s rare earth element processing facility, which is focused on heavy rare earths and broke ground in May, in Alexandria, Louisiana and Ucore’s facility in Kingston, Ontario. The Louisiana facility, which received support and funding from the state government and the U.S. Department of Defense, will produce high-purity rare earth oxides from mixed rare earth carbonates or oxides, which Critical Metals Corp expects to produce at Tanbreez.
“Critical Metals Corp’s Tanbreez offers tremendous opportunities for Ucore given the significant concentration of heavy rare earths it contains, which are essential for our processing facility in Louisiana, and our downstream partners,” said Pat Ryan, Chairman and CEO of Ucore. “Both Critical Metals Corp and Ucore share a vision to lessen China’s grip of the rare earth ecosystem in the West, and we look forward to our partnership, positioning us both to meet the growing demand for rare earths while addressing national security challenges.”
“This development further validates the opportunities ahead for Critical Metals Corp and the strength of our world-class asset in Southern Greenland,” said Tony Sage, CEO and Executive Chairman of Critical Metals Corp. “Securing this offtake provides Critical Metals Corp both with our first buyer and the flexibility to supply other US based rare earth facilities in the future, given the immense size of our Tanbreez deposit. We look forward to teaming up with Ucore and their exceptional team to support the development of a robust supply chain in America that isn’t reliant on China.”
Next Steps
The parties are working expeditiously toward definitive documentation. The execution of definitive agreements remains subject to customary conditions including completion of due diligence, finalization of commercial terms, and necessary approvals.
About Critical Metals Corp.
Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for the United States, Europe and their western world partners. Its flagship Project, Tanbreez, is one of the world's largest rare earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.
Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio.
With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world.
For more information, please visit https://www.criticalmetalscorp.com/.
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore’s vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, this plan includes disrupting the People’s Republic of China’s control of the North American REE supply chain through the near-term development of a heavy and light rare-earth processing facility in the US State of Louisiana, subsequent SMCs in Canada and Alaska and the longer-term development of Ucore’s 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.
Ucore is listed on the TSXV under the trading symbol “UCU” and in the United States on the OTC Markets’ OTCQX® Best Market under the ticker symbol “UURAF.”
For further information, please visit www.ucore.com.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include statements regarding expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “designed to” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the “Risk Factors” section in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Critical Metals Corp.
Investor Relations: ir@criticalmetalscorp.com
Media: pr@criticalmetalscorp.com
Halifax, Nova Scotia–(Newsfile Corp. – August 26, 2025) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce the execution of a Non-binding Letter of Intent ("LOI") with Critical Metals Corp. (NASDAQ: CRML) ("CMC") for a long-term offtake agreement to secure heavy rare earth element feedstock from CMC's Tanbreez Project in southern Greenland.
Under the terms of the proposed arrangement, Critical Metals Corp. intends to supply Ucore with a rare earth product from Tanbreez over an initial 10-year term. This material will be used as feedstock for Ucore's Strategic Metals Complex (SMC) in Alexandria, Louisiana, a facility supported by both the U.S. Department of Defense and the State of Louisiana. Smaller volumes will initially be processed at Ucore's Commercial Demonstration Facility ("CDF") in Kingston, Ontario.
"Critical Metals Corp's Tanbreez offers tremendous opportunities for Ucore given the significant concentration of heavy rare earths it contains, which are essential for the production of rare earth permanent magnets," said Pat Ryan, Chairman and CEO of Ucore. "Both Critical Metals Corp and Ucore share a vision to lessen China's grip of the rare earth ecosystem in the West, and we look forward to our partnership, positioning us both to meet the growing demand for rare earths while addressing national security challenges."
"Ucore's refining capabilities, together with feedstock from the Tanbreez project, has the potential to fill key gaps in the western rare earth supply chain," said Tony Sage, CEO and Executive Chairman of Critical Metals Corp. "These materials are critical to a number of western defense and consumer applications and we look forward to teaming up with Ucore and their exceptional team to support the development of a robust supply chain in America that isn't reliant on China."
The non-binding LOI sets out the parties' intentions to negotiate and execute a Definitive Offtake Agreement. Terms of the LOI include the delivery of a mixed rare earth carbonate or oxide, with specifications to be agreed to, over a multi-year term commencing on the later of July 1, 2027 or commercial production. The execution of a Definitive Offtake Agreement remains subject to customary conditions including completion of due diligence, finalization of commercial terms, and necessary approvals.
# # #
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term development of a heavy and light rare-earth processing facility in the US State of Louisiana, subsequent SMCs in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA ("Bokan").
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements
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 business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing 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 or results, and actual results or developments may differ materially from those in forward-looking statements.
Regarding the disclosure in the press release above about the government support for Ucore, the Company has assumed that the applicable projects (including each of the associated milestones) will be completed satisfactorily and in accordance with the respective agreements or letters of intent (as applicable) for such government support. For additional risks and uncertainties regarding the Company, its business activities, its ability to qualify for and receive any additional funding from any U.S. or Canadian government, the CDF and the aforementioned projects (generally), see the risk disclosure in the Company's MD&A for Q1 2025 (filed on SEDAR+ on May 9, 2025) (www.sedarplus.ca) as well as the risks described below. As noted above, the execution of a Definitive Offtake Agreement will be conditional upon the parties agreeing on commercial terms, among other conditions precedent.
Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future SMCs. Ucore has also assumed that sufficient external funding will be found to continue and complete the ongoing research and development work required at the CDF and also later prepare a new National Instrument 43-101 technical report that demonstrates that Bokan is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction and eventual commissioning and operations. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority (AIDEA) regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.
CONTACTS
Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.
For additional information, please contact:
Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263944
Virtual Investor Conferences
Company Executives Share Vision and Answer Questions Live at VirtualInvestorConferences.com
NEW YORK, Aug. 26, 2025 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series announced the agenda for the Clean Energy Metals Virtual Investor Conference to be held August 28th.
Individual investors, institutional investors, advisors, and analysts are invited to attend.REGISTER HERE
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations, or schedule 1×1 meetings with management.
"OTC Markets is proud to host the Clean Energy Metals Virtual Investor Conference, featuring 15 companies working with the metals driving clean, green, and sustainable energy generation, from EV batteries to nuclear and beyond,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "This event gives investors a front-row seat to the companies powering the global energy transition.”
August 28th
|
EasternTime (ET) |
Presentation |
Ticker(s) |
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9:00 AM ET |
Lake Resources NL |
|
|
9:30 AM ET |
ACG Metals Limited |
|
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10:00 AM ET |
Talga Group Ltd. |
|
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10:30 AM ET |
CoTec Holdings Corp. |
|
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11:00 AM ET |
Neo Performance Materials Inc. |
|
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11:30 AM ET |
First Phosphate Cop. |
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12:00 PM ET |
Giga Metals Corp. |
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12:30 PM ET |
Terra Balcanica Resources Corp |
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1:00 PM ET |
District Metals Corp. |
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1:30 PM ET |
Graphite One Inc. |
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2:00 PM ET |
Lion Copper & Gold Corp. |
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2:30 PM ET |
Ucore Rare Metals, Inc. |
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3:00 PM ET |
Intrepid Metals Corp |
|
|
4:00 PM ET |
Resolution Minerals Ltd. |
|
|
4:30 PM ET |
Graphene Manufacturing Group Ltd. |
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact: OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com
Virtual Investor Conferences Contact:John M. ViglottiSVP Corporate Services, Investor AccessOTC Markets Group (212) 220-2221johnv@otcmarkets.com
InvestorBrandNetwork (IBN)
AUSTIN, Texas, Aug. 07, 2025 (GLOBE NEWSWIRE) — via IBN – IBN, a multifaceted communications organization engaged in connecting public companies to the investment community, is pleased to announce the release of the latest episode of The MiningNewsWire Podcast as part of its sustained effort to provide specialized content distribution via widespread syndication channels.
The MiningNewsWire Podcast features revealing sit-downs with executives who are shaping the future of the global mining industry. The latest episode features Pat Ryan, P.Eng., Chairman and CEO of Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF), a critical metals technology company developing scalable rare earth element (“REE”) refining infrastructure in North America.
To begin the interview, Ryan explained how his background helped shape Ucore’s mission.
“As I looked more closely at the supply chains for electric vehicles, I realized there are no metallic supply chains to feed these particular vehicles. I was a board member of Ucore at that time… and encouraged the board to look at actually building manufacturing plants, processing, and moving forward… Rare earth is just another market, but a very new one, and it needs a 21st-century digital manufacturing approach.”
He then detailed how Ucore’s refining platform gained validation from the U.S. government.
“The U.S. DoD put a bid out… to find the technology for processing and refining in the mid-market, something that’s very competitive. We had a $4 million U.S. contract to run our commercial demonstration plant using multiple feedstocks… generating heavy and light rare earth products and running thousands of hours. The DoD came to our Kingston plant and to central Louisiana, where we’re essentially doing a copy and paste of Kingston, and they really liked what they saw… They invested $18.4 million in mid-May, and by the end of May, we had a groundbreaking in Louisiana.”
Finally, he described how Ucore is transitioning from early-stage discussions to integrated commercial partnerships, with direct involvement from the U.S. Department of Defense.
“We have an MOU. Now, we’re moving to definitive agreements. Not just one-off transactions, but multiple-prong opportunities to bring supply back to the Western world. We’re putting those building blocks together to create definitive partnerships that allow us to get the job done very effectively. We continue to discuss with DoD on a biweekly basis… what the next part of their journey looks like.”
Join IBN’s Stuart Smith and Pat Ryan, Chairman and CEO of Ucore Rare Metals, for a conversation on rebuilding rare earth infrastructure, advancing digital refining, and leading the Western critical minerals race.
To hear the whole podcast and subscribe for future episodes, visit https://podcast.miningnewswire.com
The latest installment of The MiningNewsWire Podcast continues to reinforce IBN’s commitment to the expansion of its robust network of brands, client partners, followers and the growing IBN Podcast Series. For more than 19 years, IBN has leveraged this commitment to provide unparalleled distribution and corporate messaging solutions to 500+ public and private companies.
To learn more about IBN’s achievements and milestones via a visual timeline, visit: https://IBN.fm/TimeLine
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term development of a heavy and light rare-earth processing facility in the US State of Louisiana, subsequent SMCs in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA ("Bokan").
For more information, visit the company’s website at www.Ucore.com
About IBN
IBN consists of financial brands introduced to the investment public over the course of 19+ years. With IBN, we have amassed a collective audience of millions of social media followers. These distinctive investor brands aim to fulfill the unique needs of a growing base of client-partners. IBN will continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.
Through our Dynamic Brand Portfolio (DBP), IBN provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) Press Release Enhancement to ensure maximum impact; (4) full-scale distribution to a growing social media audience; (5) a full array of corporate communications solutions; and (6) total news coverage solutions.
For more information, please visit https://www.InvestorBrandNetwork.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://IBN.fm/Disclaimer
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Corporate Communications
IBNAustin, Texaswww.InvestorBrandNetwork.com512.354.7000 OfficeEditor@InvestorBrandNetwork.com
Halifax, Nova Scotia–(Newsfile Corp. – May 13, 2025) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company"), is pleased to announce the following marketing and investor awareness engagements.
The Company reports that it has engaged InvestorBrandNetwork ("IBN"), a multifaceted financial news and publishing company, to provide corporate communications expertise and related services. The Company expects that IBN will leverage its investor-based distribution network of 5,000+ key syndication outlets, various newsletters and other outreach tools to generate awareness of the Company. The Company has engaged IBN for a period of one year, commencing May 8, 2025, at a cost of US $23,200 per quarter.
The Company has additionally engaged Goldinvest Consulting GmbH ("Goldinvest") for a 6-month period which commenced on May 5, 2025 at a cost of EUR 4,050 per month. Goldinvest will prepare corporate videos and assist with investor awareness activities in Germany.
Lastly, the Company also announces that it has entered into a media awareness and consulting agreement (the "Marketing Agreement") with Outside the Box Capital Inc. ("OTBC") of Oakville, Ontario, to provide publicity consulting and investor relations services, including marketing services through social media channels and online media distribution.
The Marketing Agreement, dated May 13, 2025, is for a period of 12 months and can be cancelled by either party at the end of each quarter with 30 days notice. In consideration of the services to be provided by OTBC, the Company will pay a cash fee in the amount of $160,000. Further, a total of 100,000 stock options to purchase the common shares of the Company will be issued to OTBC, with a strike price equal to the greater of the market price on the date of the grant and $1.60 per common share. The options will have a 5-year term and will vest at the rate of 25% every 3 months. The Company will also pay $25,000 to be used by OTBC for its influencer marketing campaign.
OTBC specializes in leveraging various social media platforms and will be able to facilitate greater awareness and widespread dissemination of the Company's news. The engagement of OTBC, as contemplated in the Marketing Agreement and summarized above, remains subject to TSXV approval.
The above-noted engagements represent additional steps in the Company's efforts to enhance communication with the current investor community and expand visibility to a greater audience.
# # #
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements
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 business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements.
For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs (generally), see the risk disclosure in the Company's most recently filed MD&A, as filed on www.sedarplus.ca as well as the risks described below.
Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to complete the Demo Plant demonstration schedule and also later prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Element project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.
CONTACTS
Mr. Peter Manuel, Ucore Vice President and Chief Financial Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.
For additional information, please contact:
Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252055
Virtual Investor Conferences
Company Executives Share Vision and Answer Questions Live at VirtualInvestorConferences.com
NEW YORK, May 09, 2025 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the Metals and Mining Virtual Investor Conference, held May 6th-8th are now available for online viewing.
REGISTER AND VIEW PRESENTATIONS HERE
The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company’s resource section.
Select companies are accepting 1×1 management meeting requests through May 13th.
May 6th
|
Presentation |
Ticker(s) |
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Northern Superior Resources Inc. |
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Luca Mining Corp. |
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Castille Resources Limited |
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Sun Summit Minerals Corp. |
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Amex Exploration Inc. |
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Ucore Rare Metals, Inc. |
|
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Kootenay Silver Inc. |
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Camino Minerals Corp. |
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Precipitate Gold Corp. |
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Callinex Mines Ltd. |
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May 7th
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Presentation |
Ticker(s) |
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Canada Nickel Company Inc. |
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Anfield Energy Inc. |
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Newcore Gold Ltd. |
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Empire Metals Ltd. |
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Cerrado Gold Inc. |
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Silver Tiger Metals Inc. |
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Horizon Copper Corp. |
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Kodiak Copper Corp. |
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Rua Gold Inc. |
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DynaResource, Inc. |
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May 8th
|
Presentation |
Ticker(s) |
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Novo Resources Corp. |
|
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Ecora Resources PLC |
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Power Metallic Mines Inc. |
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To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact: OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com
Virtual Investor Conferences Contact:John M. ViglottiSVP Corporate Services, Investor AccessOTC Markets Group (212) 220-2221johnv@otcmarkets.com
Virtual Investor Conferences
Company Executives Share Vision and Answer Questions Live at VirtualInvestorConferences.com
NEW YORK, May 02, 2025 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series announced the agenda for the Metals & Mining Virtual Investor Conference held May 6-8th.
Individual investors, institutional investors, advisors, and analysts are invited to attend.
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations, or schedule 1×1 meetings with management.
“We are excited to welcome a full roster of over 20 OTCQX and OTCQB companies to our 3-day Metals and Mining Virtual Investor Conference,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. “Our platform is tailored to meet the needs of today’s resource companies as they look to engage a broader investor base.”
May 6th
|
EasternTime (ET) |
Presentation |
Ticker(s) |
|
9:30 AM ET |
Northern Superior Resources Inc. |
|
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10:00 AM ET |
Luca Mining Corp. |
|
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10:30 AM ET |
Castile Resources Limited |
|
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11:00 AM ET |
Sun Summit Minerals Corp. |
|
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11:30 AM ET |
Amex Exploration Inc. |
|
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12:00 PM ET |
Ucore Rare Metals, Inc. |
|
|
12:30 PM ET |
Kootenay Silver Inc. |
|
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1:00 PM ET |
Camino Minerals Corp. |
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2:00 PM ET |
Precipitate Gold Corp. |
|
|
3:00 PM ET |
Callinex Mines Ltd. |
May 7th
|
EasternTime (ET) |
Presentation |
Ticker(s) |
|
9:30 AM ET |
Canada Nickel Company Inc. |
|
|
10:30 AM ET |
Anfield Energy Inc. |
|
|
11:00 AM ET |
Newcore Gold Ltd. |
|
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11:30 AM ET |
Empire Metals Ltd. |
|
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12:30 PM ET |
Cerrado Gold Inc. |
|
|
1:00 PM ET |
Silver Tiger Metals Inc. |
|
|
1:30 PM ET |
Horizon Copper Corp. |
|
|
2:00 PM ET |
Kodiak Copper Corp. |
|
|
2:30 PM ET |
Rua Gold Inc. |
|
|
3:00 PM ET |
DynaResource, Inc. |
May 8th
|
EasternTime (ET) |
Presentation |
Ticker(s) |
|
9:30 AM ET |
Novo Resources Corp. |
|
|
10:00 AM ET |
Ecora Resources PLC |
|
|
10:30 AM ET |
Power Metallic Mines Inc. |
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact: OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com
Virtual Investor Conferences Contact:John M. ViglottiSVP Corporate Services, Investor AccessOTC Markets Group (212) 220-2221johnv@otcmarkets.com
Emerging Growth
MIAMI, April 15, 2025 (GLOBE NEWSWIRE) — EmergingGrowth.com a leading independent small cap media portal announces the schedule of the 81th Emerging Growth Conference on April 16 & 17, 2025.
The Emerging Growth Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.
Register for the Conference here.
Submit Questions for any of the presenting companies to: Questions@EmergingGrowth.com
For updates, follow us on Twitter
Day 1April 16, 2025
9:00Virtual Lobby opens.Register for the Conference. If you already registered, go back to the registration link and click “Already registered” and enter your email.
9:20Introduction
9:25 – 9:35Empire Energy (ASX: EEG)Keynote speaker: Alex Underwood, CEO & Managing Director
9:40 – 10:10PSQ Holdings, INc. (NYSE: PSQH)Keynote speaker: Michael Seifert, Founder, President / CEO
10:50 – 11:20Ur-Energy (NYSE American: URG) (TSX: URE)Keynote speaker: John W. Cash, CEO
11:25 – 11:55Interstellar Communication HoldingsKeynote speakers: Seda Hewitt, Space Ambassador of IcMercury Harri Laitinen, Lifeguard of IcMercury, and Lijie Zhu, Captain of icMercury
12:00 – 12:30U.S. Energy Corporation (NASDAQ: USEG)Keynote speaker: Ryan Smith, President, CEO & Director
12:35 – 1:05Odyssey Marine Exploration, Inc. (NASDAQ: OMEX)Keynote speaker: Mark D. Gordon, Chairman & CEO
1:10 – 1:40Nova Minerals Limited (NASDAQ: NVA) (ASX: NVA)Keynote speaker: Christopher Gerteisen – CEO & Executive Director
1:45 – 2:15C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF)Keynote speaker: Daniel A. Symons, President, CEO & Director
2:20 – 2:50Ucore Rare Metals, Inc. (OTCQX: UURAF) (TSXV: UCU)Keynote speakers: Pat Ryan, CEO
2:55 – 3:05Eloro Resources, Ltd. (OTCQX: ELRRF) (TSX: ELO)Keynote speakers: Chris Holden – VP Corporate Development
3:10 – 3:20Opawica Explorations Inc. (OTCQB: OPWEF) (TSXV: OPW)Keynote speaker: Blake Morgan, President / CEO
3:25 – 3:35HydroGraph Clean Power Inc. (OTCQB: HGRAF) (CSE: HG)Keynote speaker: Kjirstin Breure, President and CEO
PostponedGeoVax Labs, Inc. (NASDAQ: GOVX)Keynote speakers: David Dodd, Chairman, President / CEO
_______________________________________________________________
Day 2April 17, 2025
8:45Virtual Lobby opens.Register for the Conference. If you already registered, go back to the registration link and click “Already registered” and enter your email.
9:00Introduction
9:05 – 9:35SBC Medical Group Holdings, Inc. (NASDAQ: SBC)Keynote speaker: Yuya Yoshida, Executive Vice President & CFO
10:50 – 11:20Evofem Biosciences, Inc. (OTCQB: EVFM)Keynote speaker: Amy Raskopf, Chief Business Development Officer
11:25 – 11:55Bioxytran, Inc. (OTCQB: BIXT)Keynote speakers: Dr. David Platt, CEO & Mike Sheikh, Executive Vice President Business Development
12:00 – 12:30Clene Inc., (NASDAQ: CLNN)Keynote speakers: Rob Etherington, President / CEO
12:35 – 1:05Aspire Biopharma Holdings, Inc. (NASDAQ: ASBP)Keynote speakers: Kraig Higginson – CEO
1:10 – 1:40Regen BioPharma Inc. (OTC Pink: RGBP)Keynote speakers: David Koos, President / CEO, & Harry M. Lander, Ph.D. Senior Scientific Consultant
1:45 – 2:15Banzai International, Inc. (NASDAQ: BNZI)Keynote speaker: Joseph Davy, Co-Founder, Chairman & CEO
2:55 – 3:05Citizens, Inc. (NYSE: CIA)Keynote speakers: Jon Stenberg, President / CEO, and Jeff Conklin, CFO
3:10 – 3:20Sono Group N.V. (OTCQB: SEVCF)Keynote speaker: George O’Leary, Managing Director, CEO and CFO
Postponed22nd Century Group, Inc. (NASDAQ: XXII)Keynote speaker: Lawrence D. Firestone, Chairman & CEO
3:40 – 3:50Alt EquityKeynote speaker: Daniel Wait, President / Founder
3:55 – 4:05Cyios Corp. (OTC Pink: CYIO)Keynote speaker: John O’Shea, Chairman
4:10 – 4:20Beneficient (NASDAQ: BENF)Keynote speaker: Brad K. Heppner, CEO
Visit the following link to register. You will then receive an email containing the link and time to sign into the conference.
Register for the Conference here.
Submit Questions for any of the presenting companies to: Questions@EmergingGrowth.com
Replays: Subscribe to our YouTube Channel
About EmergingGrowth.comFounded in 2009, Emerging Growth.com quickly became a leader in its space and has developed an extensive history of identifying emerging growth companies that can be overlooked by the investment community.
About the Emerging Growth ConferenceThe Emerging Growth Conference is an effective way for public companies to engage with the investment community regarding their Company, new products, services and other major announcements from anywhere, in an effective and time efficient manner.
All sessions are conducted through video webcasts. Our conference serves as a vehicle for Emerging Growth to build relationships with our existing and potential clients. Accordingly, a certain number of the presenting companies are our current clients, and some may become our clients in the future. In exchange for services we provide, our clients pay us fees in the form of cash and securities, and we may currently have, or in the future may have investments in the securities of certain of the presenting companies. Finally, certain of the presenting companies have paid us a fee to secure a presentation time slot or to present generally. The presentations to be delivered by the presenting companies (including any virtual handouts of written materials) have not been approved, endorsed by or otherwise reviewed by EmergingGrowth.com nor should they in any way be construed to have been made in connection with an offer to sell or a solicitation of an offer to buy securities. Please consult an investment professional before investing in anything viewed on the Emerging Growth Conference or on EmergingGrowth.com.
If you believe or know of a company that might fit our audience, contact us here.
Thank you for your interest in our conference, and we look forward to your participation in future conferences.
Contact:
Emerging Growth Phone: 1-305-330-1985Email: Conference@EmergingGrowth.com
Halifax, Nova Scotia–(Newsfile Corp. – April 14, 2025) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company"), is pleased to announce that its Chairman and CEO, Pat Ryan, will be presenting at the Emerging Growth Conference on Wednesday, April 16, 2025 at 2:20pm Eastern Time. Mr. Ryan is looking forward to providing existing shareholders and the investment community with an overview of the Company and its operations, together with an update on recent developments in the rare earth sector.
Prospective attendees can register at the following link to attend the conference:
https://goto.webcasts.com/starthere.jsp?ei=1705403&tp_key=612b99c876&sti=uuraf
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com and on the Emerging Growth YouTube Channel, http://www.YouTube.com/EmergingGrowthConference.
The Company further advises that an aggregate of 1,360,000 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 into common shares at a price of $1.08 per share and the options expire five years from April 14, 2025, the date of grant. One third of the options will vest after six months, with one third vesting every six months thereafter until fully vested.
# # #
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements
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 business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements.
For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs (generally), see the risk disclosure in the Company's most recently filed MD&A, as filed on www.sedarplus.ca as well as the risks described below.
Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to complete the Demo Plant demonstration schedule and also later prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Element project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.
CONTACTS
Mr. Peter Manuel, Ucore Vice President and Chief Financial Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.
For additional information, please contact:
Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248449
REE Automotive Ltd.
Award recognizes REE’s software-defined modular vehicle technology, which provides scalability and flexibility for OEMs and fleet operators
REE Automotive's Software-Defined Vehicle
REE is Frost & Sullivan’s 2025 Company of the Year award in the North American Electric Medium-Duty Vehicle Platform Industry category
TEL AVIV, Israel, April 09, 2025 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE), an automotive technology company that develops and builds software-defined electric vehicles, is the recipient of Frost & Sullivan’s 2025 Company of the Year award in the North American Electric Medium-Duty Vehicle Platform Industry category. The award honors REE for its innovative software-defined modular platform, which delivers scalable and flexible solutions to help OEMs and fleet operators address major challenges in today’s electric vehicle (EV) landscape.
“We are honored to receive Frost & Sullivan’s prestigious award, which reinforces our position as a leader in the automotive technology market,” said Daniel Barel, CEO and co-founder of REE. “This recognition validates our clear vision and technology evolution, as well as our ability to deliver industry-leading solutions that directly address today’s pressing challenges. By doing what we do best – staying focused on our proprietary technology and bringing scalable, software-defined vehicles to market – we are empowering OEMs and fleet operators with the solution they need in this rapidly evolving landscape.”
As the medium-duty vehicle industry continues to evolve, REE stands at the forefront of the software-defined, autonomous-ready EV market, addressing growing demand for efficient, sustainable and cost-effective solutions. The company's modular platform supports a wide range of vehicles, including last-mile delivery trucks, cargo vans and passenger vehicles. REE’s proprietary REEcorner® technology integrates critical components like steering, braking, suspension and drivetrain into a single compact module, enabling customers to rapidly customize vehicles for various applications while potentially reducing operational costs and accelerating time to market.
“REE Automotive’s biggest benefit to its customer is its technologically advanced modular software-defined EV platforms with its proprietary REEcorner technology that can integrate key components into compact modules as a result optimizing space utilization, increasing overall system efficiency resulting in lower Total Cost of Ownership (TCO),” said Marshall Martin, Program Manager, Commercial Mobility, Frost & Sullivan. “A major advantage REE Automotive’s customers have is that these platforms are made future-ready with REE’s Unified Architecture (RUA) merging its hardware features and software applications into one seamless operating system.”
The company’s technology has already gained traction with several key industry players, including U-Haul, Penske Truck Leasing and Airbus UpNext. Unlike traditional automotive architectures, REE’s fully by-wire platform is designed from the ground up to integrate with autonomous driving systems, supporting autonomy without requiring extensive vehicle modifications for compatibility. REE is redefining fleet electrification and software-defined vehicle (SDV) technology by offering a modular, autonomous-ready and software-defined platform.
REE is focused on scaling its production capabilities and forging strategic industry partnerships in order to accelerate the evolution of its SDV platforms to drive the future of electrification. This includes its strategic partnership with Motherson Group to support manufacturing and manage the global supply chain as well as a newly signed non-binding memorandum of understanding (MOU) with a global technology company with the intent to produce autonomous-driving (AD) vehicles based on REE’s existing P7 platform by 2027, pending the execution of a definitive agreement.
Frost & Sullivan’s Company of the Year Recognition is its top honor and recognizes the market participant that exemplifies visionary innovation, market-leading performance and unmatched customer care. Industry analysts evaluate market participants through interviews, analyses and extensive secondary research to identify best practices and recognize companies that achieve outstanding performance. Frost & Sullivan prepares its own reports and analyses and REE was not involved in the production, preparation, editing, or approval of Frost & Sullivan’s report and is not obligated to respond to or correct any statements made therein.
To learn more about REE Automotive’s patented technology and unique value proposition that position the company to break new ground in e-mobility, visit www.ree.auto.
About REE Automotive REE Automotive Ltd. (Nasdaq: REE) is a technology company enabling the next generation of software-defined vehicles (SDVs). Powered by REE® vehicles manage operations and features through proprietary software, enhancing safety, modularity and performance in passenger and commercial vehicles. At the core of REE’s SDV technology is a single unified layer powered by the company’s system-on-chip, redundant architecture capable of real-time, complex decision making on vehicle dynamics, energy management and autonomy. REE has a global supply chain supported by multibillion dollar international supplier, Motherson Group, REE’s second largest investor. Together with a leading automotive contract manufacturer in Detroit, REE plans to produce Powered by REE vehicles at scale. REE’s SDV technology is also available through a licensing model, offering OEMs and others a way to improve their cost structure, accelerate time to market and enhance their product offering. The company is targeting first deliveries of its flagship P7-C electric truck in the first half of 2025, and plans for continued growth by completing, not competing with global OEM’s future vehicle lineups. With a certified SDV architecture, REE allows automakers and fleet operators to unlock new mobility possibilities. Learn more at www.ree.auto.
Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com
Investor ContactDana RubinsteinChief Strategy Officer for REE Automotiveinvestors@ree.auto
Caution About Forward-Looking Statements
This communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses REE scaling its production capabilities, forging new strategic industry partnerships and further developing its software-defined vehicle (SDV) platforms to support the next generation of electrification, the evolution of the medium-duty vehicle industry, and the beginning of production in connection with of L4 autonomous vehicles under REE’s non-binding MOU (pending a definitive agreement). In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “can,” “estimate,” “expect,” “foresee,” “intend(s),” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. These forward-looking statements are based on REE’s current expectations and assumptions about future events and are based on currently available information as of the date of this communication and current expectations, forecasts, and assumptions. Although REE believes that the expectations reflected in forward-looking statements are reasonable, such statements involve an unknown number of risks, uncertainties, judgments, and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur.
Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with building out of REE’s supply chain; risks associated with plans for REE’s initial commercial production; REE’s dependence on suppliers and potential suppliers, which include single or limited source suppliers; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to a lack of compliance with Nasdaq’s minimum bid price requirement or other Nasdaq listing rules; future sales of our securities by existing material shareholders or by us that could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of fluctuations in interest rates, inflation, and foreign exchange rates; the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate (including the recent policy changes by the Trump Administration); the ongoing Gaza war and other military conflict in Israel; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2024 and in subsequent filings with the SEC.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3bfda595-16df-40b9-b642-22cd81f7c40e
Halifax, Nova Scotia–(Newsfile Corp. – April 4, 2025) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company"), acknowledges the recent joint announcement by China's Ministry of Commerce and the General Administration of Customs regarding export restrictions on critical rare earth elements effective April 4, 2025.
As reported by multiple news sources, the export restrictions, applicable to all countries, include seven key medium and heavy rare earth elements, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium.
China's decision to implement these export controls underscores the critical importance of establishing a secure and independent rare earth supply chain in North America. Ucore remains steadfast in its commitment to mitigating supply chain vulnerabilities through the development and commercialization of its proprietary RapidSX™ rare earth element refining technology.
Ucore's Strategic Initiatives:
-
U.S. Department of Defense Collaboration: Ucore is currently processing heavy rare earth elements at its RapidSX™ Commercial Demonstration Plant (the "Demonstration Plant") further to its USD$4 million contract with the US Department of Defense. The Demonstration Plant was constructed in Kingston, Ontario for the purpose of demonstrating the RapidSX™ technology at commercial scale.
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Louisiana Strategic Metals Complex (SMC): Ucore is progressing with the development of the Louisiana SMC in Alexandria, Louisiana. This facility is being designed to process broad both heavy and light mixed rare earth chemical concentrates, thereby reducing North America's reliance on foreign sources.
-
Government Support: Ucore has additionally secured a $4.28 million funding agreement from the Government of Canada to demonstrate the commercial efficacy of the RapidSX™ technology. This funding supports the production of high-purity rare earth elements from Canadian and U.S. feedstock sources. In addition to federal government support, the Company has executed a non-binding Letter of Intent with the State of Louisiana with respect to State grants, tax incentives, payroll rebates and other incentives with an estimated value of USD$15 million.
On March 20, 2025, President Trump invoked wartime powers under the Defense Production Act to address threats to America's national and economic security as a result of reliance on "hostile foreign powers' mineral production" (see Ucore Press Ucore Applauds White House Executive Action to Strengthen Critical Mineral Production – Ucore Rare Metals Inc.). The Executive Order outlines a number of initiatives to "facilitate domestic mineral production to the maximum extent possible" and is aimed at the production of a number of critical minerals, including rare earth elements. Ucore looks forward to continuing its work the US Department of Defense in developing a North American supply chain for these critical materials.
Pat Ryan, P.Eng., Chairman and CEO of Ucore, stated: "China's recent announcement highlights the urgent need for a robust and independent rare earth supply chain in North America. Ucore's RapidSX™ technology offers a transformative solution to this challenge, and we are committed to advancing our strategic initiatives to ensure a stable and secure supply of critical rare earth elements."
# # #
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements
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 business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. The details of the legislation by which tariffs are implemented can potentially impact the effectiveness of the protections afforded by Foreign Trade Zones. 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 or results, and actual results or developments may differ materially from those in forward-looking statements.
Regarding any disclosure in the press release above about the US Department of Defense or the Government of Canada Programs and the expected successful progress and resulting milestone payments from these Programs, the Company has assumed that the Programs (including each of their milestones) will be completed satisfactorily. For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs (generally), see the risk disclosure in the Company's MD&A for Q3-2023 (filed on SEDAR on November 20, 2023) (www.sedarplus.ca) as well as the risks described below.
Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to complete the Demo Plant demonstration schedule and also later prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Element project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.
CONTACTS
Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.
For additional information, please contact:
Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247345
Ucore Rare Metals Inc. (V.UCU) hit a new 52-week high of $1.08 Friday. Ucore commented on the latest executive order issued by President Trump, invoking wartime powers under the Defense Production Act to address threats to the country's national and economic security by reliance upon "hostile foreign powers' mineral production"
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Halifax, Nova Scotia–(Newsfile Corp. – March 21, 2025) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company"), is pleased to comment on the latest executive order issued by President Trump, invoking wartime powers under the Defense Production Act to address threats to the country's national and economic security by reliance upon "hostile foreign powers' mineral production" (the "Executive Order").
The Executive Order outlines a number of initiatives to "facilitate domestic mineral production to the maximum extent possible" and is aimed at the production of a number of critical minerals, including rare earth elements. More specifically, the Executive Order directs the Development Finance Corporation ("DFC") and Secretary of Defense to develop a plan to establish a dedicated mineral and mineral production fund for domestic investments within 30 days.
Additionally, the Secretary of Defense has been directed to add mineral production as a priority industrial capability development area for the Industrial Base Analysis and Sustainment Program ("IBAS"). Ucore is a current participant of the IBAS Program and is processing rare earth materials at its RapidSX™ Commercial Demonstration Facility further to a USD$4 million contract with the US Department of Defense (see Ucore Press Release dated June 6, 2023 Ucore Announces a US$4 Million Award from the US Department of Defense – Ucore Rare Metals Inc.).
"President Trump's executive order underscores the urgent need to establish robust, domestic rare earth processing capabilities," said Pat Ryan, Chairman and CEO of Ucore. "As the US looks to onboard rare earth mineral projects, there is strategic merit in knowing that significant security can be established by first dominating the processing and refining. We look forward to continuing our work with the Department of Defense to support this important initiative as we move toward commercializing our RapidSX™ rare earth element ("REE") refining technology."
Figure 1 – Aerial view of Ucore's planned Strategic Metals Complex in the England Airpark, Alexandria, LouisianaTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1119/245541_50f55c3944136861_001full.jpg
Ucore's first Strategic Metals Complex is to be located in the England Airpark (formerly the England Air Force Base). The project has already garnered strong support from both government and private sector stakeholders and will provide the U.S. with the capacity to produce high-purity REEs essential for national security and technological advancement.
This executive order aligns strongly with Ucore's ongoing efforts to develop a resilient Western supply of REEs, including those crucial to semiconductor manufacturing, robotics, and clean energy applications. With the global semiconductor market projected to exceed $1 trillion by 2030 and AI-driven automation fueling unprecedented demand for rare earth permanent magnets, Ucore's scalable and modular refining process is uniquely positioned to fill this critical gap.
See the following link for the full text of the Executive Order: Immediate Measures to Increase American Mineral Production – The White House.
# # #
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements
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 business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. The details of the legislation by which tariffs are implemented can potentially impact the effectiveness of the protections afforded by Foreign Trade Zones. 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 or results, and actual results or developments may differ materially from those in forward-looking statements.
Regarding any disclosure in the press release above about the US Department of Defense or the Government of Canada Programs and the expected successful progress and resulting milestone payments from these Programs, the Company has assumed that the Programs (including each of their milestones) will be completed satisfactorily. For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs (generally), see the risk disclosure in the Company's MD&A for Q3-2023 (filed on SEDAR on November 20, 2023) (www.sedarplus.ca) as well as the risks described below.
Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to complete the Demo Plant demonstration schedule and also later prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Element project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.
CONTACTS
Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.
For additional information, please contact:
Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245541
REE Automotive Ltd.
Additional Proceeds Are invited into a Second Closing from Existing Strategic Investors
TEL AVIV, Israel, March 18, 2025 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE) (the “Company”), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced that it has entered into securities purchase agreements with new institutional investors and certain existing strategic investors, including M&G Investments and Varana Capital, for the purchase and sale of 6,376,631 ordinary shares at a purchase price of $4.25 per share, pursuant to a registered direct offering, resulting in gross proceeds of up to approximately $27 million at closing(s) before deducting placement agent commissions and other offering expenses. The initial closing of the offering is expected to occur on or about March 19, 2025, subject to the satisfaction of customary closing conditions.
Motherson Group, an existing shareholder and one of the world’s leading automotive suppliers, has been invited to invest up to $10 million in a second closing for a fully subscribed round by no later than March 28, 2025.
The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.
A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.
This offering is being made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-266902) which was declared effective by the Securities and Exchange Commission (the “SEC”) on August 25, 2022. The offering is made only by means of a prospectus which is part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Additionally, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About REE Automotive
REE Automotive Ltd. (Nasdaq: REE) is a technology company enabling the next generation of software-defined vehicles (SDVs). Powered by REE® vehicles manage operations and features through proprietary software, enhancing safety, modularity and performance in passenger and commercial vehicles. At the core of REE’s SDV technology is a single unified layer powered by the company’s system-on-chip, redundant architecture capable of real-time, complex decision making on vehicle dynamics, energy management and autonomy. REE has a global supply chain managed by multibillion dollar international supplier, Motherson Group, REE’s second largest investor. Together with a leading automotive manufacturer in Detroit, REE can produce Powered by REE vehicles at scale without the need for capital-intensive investment. REE’s SDV technology licensing is a solution for OEMs seeking to improve their cost structure, reduce time to market and enhance their product offering. The company is targeting the first deliveries of its flagship P7-C electric truck in the first half of 2025, and plans for continued growth by completing, not competing with global OEM’s future vehicle lineups. With a validated and certified SDV architecture, REE helps automakers and fleet operators unlock new mobility possibilities. Learn more at www.ree.auto.
Forward Looking Statements
This communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses the expected closing of the offering and the potential for an additional investment by an existing strategic investor. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “can,” “estimate,” “expect,” “foresee,” “intend(s),” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements.
These forward-looking statements are based on REE’s current expectations and assumptions about future events and are based on currently available information as of the date of this communication and current expectations, forecasts, and assumptions. Although REE believes that the expectations reflected in forward-looking statements are reasonable, such statements involve an unknown number of risks, uncertainties, judgments, and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur.
Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with building out of REE’s supply chain; risks associated with plans for REE’s initial commercial production; REE’s dependence on suppliers and potential suppliers, which include single or limited source suppliers; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to a lack of compliance with Nasdaq’s minimum bid price requirement or other Nasdaq listing rules; future sales of our securities by existing material shareholders or by us that could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of fluctuations in interest rates, inflation, and foreign exchange rates; the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate (including the recent policy changes by the Trump Administration); the ongoing Gaza war and other military conflict in Israel; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2024 and in subsequent filings with the SEC.
Contacts
Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com
Investor ContactDana RubinsteinChief Strategy Officer for REE Automotiveinvestors@ree.auto
REE Automotive Ltd.
REE Automotive SDV technology
REE Automotive redefines SDV technology with certified, safety-focused systems that enhance flexibility and performance in passenger and commercial EVs.
REE is intended to be the exclusive provider of software-defined vehicle technology to this leading tech company in multiple global markets
Definitive long-term collaboration agreement expected in 2025, leveraging REE’s P7 platform to deliver thousands of autonomous vehicles by 2030 with start of production expected in 2027
-
REE is intended to be the exclusive provider of software-defined vehicle technology to this leading tech company in multiple global markets
-
Definitive long-term collaboration agreement expected in 2025, leveraging REE's P7 platform to deliver thousands of autonomous vehicles by 2030 with start of production expected in 2027
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Targeting revenue from the strategic collaboration agreement of up to $770 million by 2030 with software and services revenue expected to begin in H2 2025
TEL AVIV, Israel, March 18, 2025 (GLOBE NEWSWIRE) — REE Automotive Ltd. (NASDAQ: REE), an automotive technology company that develops and builds software-defined electric vehicles, entered into a non-binding memorandum of understanding (MOU) with a global technology company developing and marketing new mobility solutions for passenger and freight transport. The MOU outlines the companies’ intent to develop and produce multiple thousands of autonomous-driving (AD) vehicles based on REE’s existing P7 platform. The parties intend to sign a strategic collaboration agreement by year-end 2025. It is estimated that the agreement will generate up to $770 million in potential revenues over the next five years. Through this collaboration, the companies plan to lead the global autonomous transportation market by integrating next-generation software-defined electrical architecture and best-in-class software technology.
The potential collaboration aims to leverage REE’s Federal Motor Vehicle Safety Standards (FMVSS) certified P7 platform and its Unified Architecture (RUA) of ultra-high-performance System on Chip (SOC) designed for real-time complex decision making on vehicle dynamics, safety, energy management, redundancy and autonomy. The Powered by REE® architecture and software technology stack should enable fast time to market with expected launch of the first production vehicles as early as 2027.
“We are very excited to see our advanced SDV technology reshaping the future of autonomous transportation at scale as it is being integrated into vehicles and applications outside of REE,” said Daniel Barel, CEO and co-founder of REE Automotive. “We believe that using our AD-ready and certified P7 platform and our advanced software technology allow us to bring this program to the market swiftly and with minimal investment offering a truly modular, adaptive and cost-effective autonomous solution.”
Powered by REE® software paves the way for a new generation of autonomous vehicles that are fully scalable, flexible and can integrate over-the-air updates which would scale REE’s innovation across a wide range of price points and global markets.
REE’s platforms are fully software-defined, enabling continuous evolution and adaptability. This approach reduces hardware complexity and extends vehicles’ operational lifespans, while allowing for new features and optimizations to be deployed remotely. Autonomous vehicle operators benefit from deep data insights that drive predictive maintenance and could improve uptime, which can reduce total cost of ownership. With software-defined control at the core of its zonal architecture, REE’s vehicles offer significant flexibility and an effort to future-proof SDV for emerging mobility solutions.
To learn more about REE Automotive’s patented software-defined technology and unique value proposition that positions the company to break new ground in e-mobility, visit www.ree.auto.
About REE AutomotiveREE Automotive Ltd. (Nasdaq: REE) is a technology company enabling the next generation of software-defined vehicles (SDVs). Powered by REE® vehicles manage operations and features through proprietary software, enhancing safety, modularity and performance in passenger and commercial vehicles. At the core of REE’s SDV technology is a single unified layer powered by the company’s system-on-chip, redundant architecture capable of real-time, complex decision making on vehicle dynamics, energy management and autonomy. REE has a global supply chain managed by multibillion dollar international supplier, Motherson Group, REE’s second largest investor. Together with a leading automotive manufacturer in Detroit, REE can produce Powered by REE vehicles at scale without the need for capital-intensive investment. REE’s SDV technology licensing is a solution for OEMs seeking to improve their cost structure, reduce time to market and enhance their product offering. The company is targeting the first deliveries of its flagship P7-C electric truck in the first half of 2025, and plans for continued growth by completing, not competing with global OEM’s future vehicle lineups. With a validated and certified SDV architecture, REE helps automakers and fleet operators unlock new mobility possibilities. Learn more at www.ree.auto.
Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com
Investors ContactDana RubinsteinChief Strategy Officer for REE Automotiveinvestors@ree.auto
Caution About Forward-Looking StatementsThis communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses REE’s intentions with respect to its potentially being the exclusive provider of software-defined vehicle technology and to lead the development and production of L4 autonomous vehicles, the potential revenues anticipated in connection therewith by 2030, the likelihood of the signing of a strategic collaboration agreement (including the likelihood of its occurrence in 2025), the number of AD vehicles anticipated to be manufactured and sold, the total addressable market of autonomous vehicles, the belief that its AD-ready and certified P7 platform allows it to bring this program to the market swiftly and with minimal investment, and the date(s) for any anticipated revenues and the beginning of production in connection therewith. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “can,” “estimate,” “expect,” “foresee,” “intend(s),” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements.
These forward-looking statements are based on REE’s current expectations and assumptions about future events and are based on currently available information as of the date of this communication and current expectations, forecasts, and assumptions. Although REE believes that the expectations reflected in forward-looking statements are reasonable, such statements involve an unknown number of risks, uncertainties, judgments, and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur.
Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with building out of REE’s supply chain; risks associated with plans for REE’s initial commercial production; REE’s dependence on suppliers and potential suppliers, which include single or limited source suppliers; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to a lack of compliance with Nasdaq’s minimum bid price requirement or other Nasdaq listing rules; future sales of our securities by existing material shareholders or by us that could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of fluctuations in interest rates, inflation, and foreign exchange rates; the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate (including the recent policy changes by the Trump Administration); the ongoing Gaza war and other military conflict in Israel; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2024 and in subsequent filings with the SEC.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ead25d6c-51a0-4930-b5a5-282c526db97d
https://www.globenewswire.com/NewsRoom/AttachmentNg/617ad089-9df5-42ff-a8bc-12086f9229b2
REE Automotive Ltd.
REE’s software defined vehicles (“SDV”) deliver more real-time data than traditional commercial solutions
Geotab fleet management solution enables fleets to monitor REE’s SDVs and other vehicles seamlessly, while significantly enhancing the cache of data quality and volume
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REE’s software defined vehicles (“SDV”) deliver more real-time data than traditional commercial solutions
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Geotab to gain access to REEai Cloud for advanced data analytics aimed to reduce total cost of ownership (“TCO”) for expanding North American fleet
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Geotab fleet management solution enables fleets to monitor REE’s SDVs and other vehicles seamlessly, while significantly enhancing the cache of data quality and volume
TEL AVIV, Israel, Feb. 20, 2025 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced a collaboration with Geotab, a global leader in telematics and fleet management solutions. Through this collaboration, North American fleets purchasing REE’s SDV trucks will have access to Geotab’s data-driven intelligence that gives fleet operators actionable insights to help optimize fleet performance. The integration of REEai Cloud to the Geotab network enables fleets to monitor REE’s SDVs and other vehicles seamlessly, while significantly enhancing the cache of data quality and volume. This collaboration provides added visibility, strengthening the Geotab offering and streamlines the process for fleets to incorporate REE’s SDVs into their existing operations.
Geotab is the world's #1 commercial telematics provider, long recognized for its expertise in capturing essential, near real-time data through its compact, plug-and-play GO platform, which provides fleet operators with GPS data and telematics data driven insights. Through this compact device, Geotab processes essential fleet data such as speed, range, and other metrics, sending it directly to the cloud to support fleet optimization. With REE’s integration of data, fleets benefit from improved, near real-time actionable insights on both vehicle performance and condition, enabling seamless software updates and facilitating advanced customization options.
“We are always listening to our customers, and this collaboration exemplifies how we deliver beyond their expectations,” said Tali Miller, Chief Business Officer of REE. “By integrating Geotab’s industry-leading telematics with data generated from REEai Cloud, we’re equipping our fleet operators with the information they need in real time to enable smarter, data-driven decisions that maximize uptime and reduce costs. We’re providing a full-package solution that helps fleets easily transition for the future.”
REE and Geotab’s collaboration is aimed to provide a solution that meets the needs of modern fleet operators and benefits all stakeholders. REE’s sharing of real-time data with Geotab’s platform aims to allow fleet operators to view, analyze and act upon these insights both via the GO device and server-to-server connectivity. The integration aligns with fleet operators' existing systems, enabling customers to gain in-depth analysis of vehicle efficiency without additional complexity.
“At Geotab, our priority is helping customers unlock the full potential of their data to make informed, strategic decisions to run their business. By providing Geotab telematics to REE’s vehicle platform, we’re providing our mutual fleet customers with a seamless way to access and act on critical information. It’s about making data work smarter—helping fleet operators enhance efficiency, reduce costs, and stay ahead in an evolving industry,” said Rob Minton, Associate Vice President of Connected Car at Geotab.
As fleet demands evolve, REE and Geotab’s combined expertise will continue to expand the possibilities of data-driven management. Customers can expect an increasingly powerful set of tools to manage their fleets, from simple data monitoring to advanced diagnostics and proactive maintenance solutions.
To learn more about REE’s patented technology enabling the company to break new ground in e-mobility, visit www.ree.auto.
About REE AutomotiveREE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE® are equipped with the revolutionary REEcorner®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a full by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low total cost of ownership (TCO), and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.
Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com
Investor ContactDana RubinsteinChief Strategy Officer for REE Automotiveinvestors@ree.auto
Caution About Forward-Looking StatementsThis communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses the benefits of REE’s collaboration with Geotab, the potential benefits of Geotab’s telematics with data generated from REE products, and the benefits from the integration of REE products within the Geotab network. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.
These forward-looking statements are based on REE’s current expectations and assumptions about future events and are based on currently available information as of the date of this communication and current expectations, forecasts, and assumptions. Although REE believes that the expectations reflected in forward-looking statements are reasonable, such statements involve an unknown number of risks, uncertainties, judgments, and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur.
Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with building out of REE’s supply chain; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to lack of compliance with Nasdaq’s minimum bid price requirement; future sales of our securities by existing material shareholders or by us could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of the COVID-19 pandemic, the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate; the ongoing military conflict in Israel; fluctuations in interest rates and foreign exchange rates; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2024 and in subsequent filings with the SEC.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/204c073b-9356-4813-bdf5-0148c5ec52b7
REE Automotive Ltd.
Mission Mobile Medical and REE Automotive Partner to Transport Healthcare to Millions of Rural Americans
Mission Mobile, the world’s largest mobile health company, intends to build its new mobile healthcare fleet on REE’s P7 electric trucks
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Mission Mobile, one of the world’s largest mobile health companies, intends to build its new mobile healthcare fleet on REE’s P7 electric trucks.
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New Powered by REE fleet will aim to expand Mission Mobile’s 200 mobile healthcare programs targeting more than two million Americans in 42 states who currently do not have equitable healthcare access.
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First P7 vehicle delivery is slotted for mid 2025.
GREENSBORO, N.C. and TEL AVIV, Israel, Feb. 13, 2025 (GLOBE NEWSWIRE) — Mission Mobile Medical and REE Automotive Ltd. (Nasdaq: REE) have signed an agreement under which REE will provide vehicles to Mission Mobile Medical which will be used by the latter to make healthcare more accessible to people in historically underserved, rural areas in the United States. The collaboration combines REE’s software-defined vehicle technology with Mission Mobile Medical Group’s ground-breaking innovations in mobile health solutions which will come together to deliver high-quality, cost-efficient healthcare in difficult to access areas in the U.S. Under the terms of the agreement, Mission Mobile Medical has ordered and secured priority production capacity for REE’s software-defined P7 electric trucks, with the first Powered by REE P7 delivery planned for mid 2025. With REE P7 trucks, Mission Mobile aims to deploy the next generation of mobile healthcare units this year with enhanced efficiency, adaptability and sustainability for rural communities across America.
Mission Mobile, one of the world’s largest mobile health companies, has redefined healthcare delivery through innovative medical solutions for at-risk communities. Over the past 5 years, Mission Mobile has created over 200 mobile health programs in 42 states and Canada to help patients and provide on-demand healthcare where traditional treatment is restricted.
“Our clients are mission-driven to efficiently deliver healthcare to every corner of our country,” said Travis LeFever, CEO of Mission Mobile Medical. “How long you live shouldn’t depend on where you live, and this partnership marks a pivotal step toward extending the reach of the healthcare system. With nearly 20% of Americans in rural areas facing critical barriers to care, we’re not just innovating—we’re taking action. Our country is in crisis and these solutions are a pragmatic and financially sustainable way to solve the challenge of equitable access to healthcare.”
Mission Mobile Medical chose REE for the P7’s unique zonal architecture and fully flat chassis that will enable Mission Mobile to build fully-customized, medical facility on the rear of the trucks. In addition, REE’s x-by-wire system allows the medical units to receive over-the-air (OTA) updates when needed and provides industry-leading levels of fleet and telematics data. This combination of REE’s proprietary automotive technology and Mission Mobile Medical’s expertise in transportable wellness programs will result in the next generation of customizable health solutions, designed with enhanced efficiency, adaptability and sustainability deployed in rural communities across America.
REE’s P7-C is the first U.S. certified fully by-wire vehicle, designed around four identical REEcorners®, which integrate all critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module. Built with a technology-first mindset, the P7-C sets a new standard in safety and performance while offering flexibility to build cargo trucks, work trucks, medical vehicles and more.
“Collaborating with Mission Mobile Medical highlights the unique capabilities of REE’s software-defined technology,” said Tali Miller, Chief Business Officer of REE. “Our modular and customizable chassis enables purpose-built solutions to meet specific needs, and Mission Mobile Medical intends to utilize it to improve the lives of millions of people. In addition, our robust national dealer network with 80 points of service will allow these mobile health vehicles to be supported close to where medical services are being delivered. This collaboration demonstrates how zero-emission vehicles can provide essential services efficiently and at scale, creating positive impact for our communities.”
This approach represents a convergence of cutting-edge engineering and healthcare innovation, enabling the development of next-generation health programs that are not only environmentally friendly but also equipped to meet our Nation’s need for convenient Preventative and Primary care in a rapidly changing healthcare landscape.
To learn more about Mission Mobile Medical’s mission to save lives in rural communities, visit https://www.missionmobilemed.com/.
To learn more about REE’s patented technology enabling the company to break new ground in e-mobility, visit www.ree.auto.
About Mission Mobile Medical
Mission Mobile Medical is the world’s largest mobile health company. They are on a mission to expand access to high-quality medical care by providing mobile health programs as a service to health systems across the country and abroad. From preventative primary care and screenings to dental and specialty care, Mission Mobile Medical data analytics and proprietary Healthcare Savings mapping software empowers health systems and local governments to precisely deliver care to the right patients, at the right place, at the right time, driving savings for health payors in rural geographies, and saving lives. For more information, visit www.missionmobilemed.com.
About REE Automotive
REE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE® are equipped with the revolutionary REEcorner®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a full by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low total cost of ownership (TCO), and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.
Caution About Forward-Looking StatementsThis communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses the expected timing of the delivery of the REE EVs in the first half of 2025, the benefits of REE’s products and the potential benefits of its collaboration with Mission Mobile Medical. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim,” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would,” “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.
These forward-looking statements are based on REE’s current expectations and assumptions about future events and are based on currently available information as of the date of this communication and current expectations, forecasts, and assumptions. Although REE believes that the expectations reflected in forward-looking statements are reasonable, such statements involve an unknown number of risks, uncertainties, judgments, and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur.
Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with building out of REE’s supply chain; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to lack of compliance with Nasdaq’s minimum bid price requirement; future sales of our securities by existing material shareholders or by us could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of interest rate changes, the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate; the ongoing military conflict in Israel; fluctuations in interest rates and foreign exchange rates; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2024 and in subsequent filings with the SEC.
Media Contact
Mission Mobile MedicalDana SummersPenman PR dana@penmanpr.com
REE AutomotiveMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d5df7cb-57c2-4c31-ba45-f307f71cb897
We feel now is a pretty good time to analyse REE Automotive Ltd.'s (NASDAQ:REE) business as it appears the company may be on the cusp of a considerable accomplishment. REE Automotive Ltd. operates as an automotive technology company in France, the United Kingdom, the United States, and internationally. The US$151m market-cap company posted a loss in its most recent financial year of US$114m and a latest trailing-twelve-month loss of US$110m shrinking the gap between loss and breakeven. Many investors are wondering about the rate at which REE Automotive will turn a profit, with the big question being “when will the company breakeven?” In this article, we will touch on the expectations for the company's growth and when analysts expect it to become profitable.
View our latest analysis for REE Automotive
According to the 2 industry analysts covering REE Automotive, the consensus is that breakeven is near. They anticipate the company to incur a final loss in 2026, before generating positive profits of US$6.0m in 2027. Therefore, the company is expected to breakeven roughly 2 years from now. How fast will the company have to grow each year in order to reach the breakeven point by 2027? Working backwards from analyst estimates, it turns out that they expect the company to grow 58% year-on-year, on average, which is extremely buoyant. Should the business grow at a slower rate, it will become profitable at a later date than expected.
NasdaqCM:REE Earnings Per Share Growth February 11th 2025
We're not going to go through company-specific developments for REE Automotive given that this is a high-level summary, but, take into account that typically a high forecast growth rate is not unusual for a company that is currently undergoing an investment period.
One thing we would like to bring into light with REE Automotive is its relatively high level of debt. Typically, debt shouldn’t exceed 40% of your equity, which in REE Automotive's case is 43%. A higher level of debt requires more stringent capital management which increases the risk in investing in the loss-making company.
Next Steps:
This article is not intended to be a comprehensive analysis on REE Automotive, so if you are interested in understanding the company at a deeper level, take a look at REE Automotive's company page on Simply Wall St. We've also put together a list of important aspects you should further examine:
Historical Track Record: What has REE Automotive's performance been like over the past? Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity.
Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on REE Automotive's board and the CEO’s background.
Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
VANCOUVER, BC, Jan. 31, 2025 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") reports the following updated share capital and voting rights, in accordance with the Swedish Financial Instruments Trading Act:
The number of issued and outstanding shares of the Company has increased by 93,674,455 to 867,777,426 common shares with voting rights as of January 31, 2025. The increase in the number of issued and outstanding shares from January 1, 2025 to date is the result of shares issued in connection with the Filo Corp. acquisition (see press release dated January 15, 2025 entitled "Lundin Mining Completes Joint Acquisition of Filo with BHP and 50% Sale of Josemaria to Form Vicuña Corp."), and the exercise of employee stock options or the vesting of employee share units, offset by any share buy backs completed under the normal course issuer bid.
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining company with operations or projects in Argentina, Brazil, Chile, and the United States of America, primarily producing copper, gold and nickel. In December 2024 the Company announced the sale of its European assets to Boliden. The transaction is expected to close in mid-2025 subject to customary conditions and regulatory approvals.
The information in this release is subject to the disclosure requirements of Lundin Mining under the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out below on January 31, 2025 at 14:30 Pacific Time.
Lundin Mining Announces Updated Share Capital and Voting Rights (CNW Group/Lundin Mining Corporation)
SOURCE Lundin Mining Corporation
Cision
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2025/31/c8898.html
Sidoti Events, LLC, an affiliate of Sidoti & Company, LLC, has released the presentation schedule and weblinks for its two-day January Micro-Cap Conference taking place Wednesday and Thursday, January 22-23, 2025. The presentation schedule is subject to change. Please visit www.sidoti.com/events for the most updated version and webinar links.
Presentation Schedule
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Wednesday, January 22, 2025 (Day 1) |
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1x1s Only (22nd) |
Apogee Enterprises, Inc. (APOG) |
Ashford Hospitality Trust (AHT) |
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Bitcoin Depot (BTM) |
Hooker Furnishings Corp (HOFT) |
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Meritage Hospitality (MHGU) |
***** |
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Thursday, January 23, 2025 (Day 2) |
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1x1s Only (23 rd ) |
Ashford Hospitality Trust (AHT) |
Bitcoin Depot (BTM) |
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GoHealth (GOCO) |
Hooker Furnishings Corp (HOFT) |
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Meritage Hospitality (MHGU) |
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About Sidoti Events, LLC ("Events") and Sidoti & Company, LLC ("Sidoti")In 2023, Sidoti & Company, LLC (www.sidoti.com) formed an affiliate company, Sidoti Events, LLC in order to focus exclusively on its rapidly growing conference business and to more directly serve the needs of presenters and attendees. The relationship allows Events to draw on the 25 years of experience Sidoti has as a premier provider of independent securities research focused specifically on small and microcap companies and the institutions that invest in their securities, with most of its coverage in the $200 million-$5 billion market cap range. Sidoti's coverage universe comprises approximately 150 equities of which greater than 60 percent participate in the firm's rapidly growing Company Sponsored Research ("CSR") program. In 2024, Sidoti established Lighthouse Equity Research as an extension of its CSR program to meet the specific needs of companies not valued using traditional metrics or that face challenges obtaining coverage due to political risks or other factors. Events is a leading provider of corporate access through the eight investor conferences it hosts each year. By virtue of its direct ties to Sidoti, Event's benefits from Sidoti's small- and microcap-focused nationwide sales force, which has connections with 2,500 institutional relationships in North America. This enables Events to provide multiple forums for meaningful interaction for small and microcap issuers and investors specifically interested in companies in the sector.
SOURCE: Sidoti & Company, LLC
REE Automotive Ltd.
CEO and co-founder Daniel Barel will host a company presentation at 8:30 a.m. ET on Thursday, January 23 and CFO Hai Aviv will meet one-on-one with potential investors
TEL AVIV, Israel, Jan. 21, 2025 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, will participate in the Sidoti Micro-Cap Virtual Conference on January 23, 2025. CEO and co-founder Daniel Barel will deliver a live presentation from 8:30 to 9 a.m. ET (Track 1) to discuss REE’s software-defined vehicle technology, market opportunities and outlook for 2025 and beyond. The presentation is available to stream online by registering here.
Conference participants may schedule one-on-one meetings with REE by contacting Dana Rubenstein at danar@ree.auto or requesting them through the Sidoti online portal.
To learn more about REE Automotive’s patented technology and unique value proposition that position the company to break new ground in e-mobility, visit www.ree.auto.
About REE AutomotiveREE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE® are equipped with the revolutionary REEcorner®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a full by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low total cost of ownership (TCO), and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.
Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com
Investor ContactDana RubinsteinChief Strategy Officer for REE Automotiveinvestors@ree.auto
Halifax, Nova Scotia–(Newsfile Corp. – January 21, 2025) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company"), is pleased to announce that the Company has been awarded $500,000 in partnership with Ontario's Critical Minerals Innovation Fund (the "Fund"). The non-dilutive funding contribution is for the advancement of the Continuous Improvement Process at the Company's RapidSXTM Commercial Demonstration Facility in Kingston, Ontario.
"Investing in critical mineral advancements, like Ucore Rare Metals Inc.'s innovative RapidSX™ technology, is vital to strengthen Ontario's critical minerals sector, drive innovation, and secure our future security and prosperity," said George Pirie, Minister of Mines. "This $500,000 in funding through our Critical Minerals Innovation Fund will help to build a secure supply chain ready to fuel the technologies of tomorrow and increase our global competitiveness."
Ucore is currently commercializing its RapidSXTM technology for the refining and separation of rare earth oxides at its Commercial Development Facility in Kingston, Ontario. The Company has constructed, commissioned and is operating a 52 stage RapidSXTM Demonstration Plant for the separation and refining of heavy and light rare earth oxides. Ucore is employing cutting-edge digital manufacturing with ongoing continuous process capabilities and flexible work cells that enable monitoring at every step of the operation, thus allowing for a staged market entry. These innovations will allow Ucore to compete with established Chinese producers.
"We are thrilled to have the Ontario government as a partner as we work toward re-establishing the North American rare earth supply chain," stated Pat Ryan, CEO of Ucore. "The importance of rare earth products to strategic industries such as national defense, robotics and AI, and many clean technologies cannot be overstated. Ontario's Critical Minerals Innovation Fund will play an important role as we work toward critical minerals independence in North America."
Figure 1 – Ucore's 52-stage RapidSX™ Commercial Demo Plant in Kingston, Ontario
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1119/237931_874ea46aa4ad0965_001full.jpg
The Critical Minerals Innovation Fund provides funding to projects that help strengthen Ontario's critical minerals sector, supporting projects that involve research, development and commercialization of innovative technologies, techniques, processes and solutions for critical minerals and relate to key priority areas. Key priority areas include the battery supply chain, inventive techniques for deep exploration and mining, recovery of minerals, and other innovative projects that support the critical minerals sector.
Rare Earth Elements are essential components to several modern technologies. The largest application is their use in rare earth permanent magnets. Rare earth permanent magnets are used in a number of products, including electric vehicles, wind turbines, cell phones, MRI machines and numerous military applications. While rare earths are relatively abundant in the earth's crust, economic concentrations are uncommon and extensive processing is required to separate and refine the rare earths to a required purity. Ucore's focus on the all-important refining and separating of rare earth concentrates to usable oxides is needed to rebuild fragmented Western world supply chains.
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About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements
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 business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. The details of the legislation by which tariffs are implemented can potentially impact the effectiveness of the protections afforded by Foreign Trade Zones. 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 or results, and actual results or developments may differ materially from those in forward-looking statements.
Regarding any disclosure in the press release above about the US Department of Defense or the Government of Canada Programs and the expected successful progress and resulting milestone payments from these Programs, the Company has assumed that the Programs (including each of their milestones) will be completed satisfactorily. For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs (generally), see the risk disclosure in the Company's MD&A for Q3-2023 (filed on SEDAR on November 20, 2023) (www.sedarplus.ca) as well as the risks described below.
Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to complete the Demo Plant demonstration schedule and also later prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Element project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.
CONTACTS
Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.
For additional information, please contact:
Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237931
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Ucore's proposed Louisiana rare earth refining facility is located within the England Airpark & Community, a Foreign Trade Zone.
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Foreign Trade Zones have the potential to mitigate the impact of proposed tariffs on the import and export of rare earth products.
Halifax, Nova Scotia–(Newsfile Corp. – December 4, 2024) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company"), noting the recent news about potentially increased tariffs, comments on the value of its new Strategic Metals Complex (SMC) in the favorable location of England Airpark Foreign Trade Zone (FTZ) for affordable supply of rare earths to U.S. consumers.
During the recent election campaign, and following the Republican victory, President-elect Trump emphasized a return to tariffs and other trade measures as a way to encourage the reshoring of American manufacturing. Key proposals include heightened tariffs on Chinese and other foreign-made goods, especially in critical materials supply chains.
The U.S. Department of Defense (DoD) and other key federal agencies have identified rare earth elements as critical to national security, powering technologies from advanced fighter jets to renewable energy systems. DoD, in particular, is required to begin sourcing rare earths from non-Chinese sources. However, over 80% of REE processing currently takes place in China, leaving the U.S. vulnerable to supply chain disruptions.
Ucore, which has located its first SMC within the England Airpark FTZ in Alexandria, Louisiana, is well-positioned to assist customers in developing secure rare earth supply chains that comply with DoD acquisition regulations and have favorable import status. FTZs are designated geographic areas where commercial merchandise, both domestic and foreign, is treated as if it were outside the U.S. commerce for Customs purposes. This structure can potentially provide tariff and tax relief, helping American businesses stay competitive on the import of foreign inputs and on exporting finished products.
Ucore encourages manufacturers seeking rare earth solutions to connect with us to determine how this uniquely advantageous import and export zone can reduce tariff costs, encourage sustainable supply chains, and support the revitalization of the domestic REE supply chain. This includes new manufacturers and technology operations, longtime rare earth magnet users, and even the most established supply chain managers in Europe, Japan and South Korea, who may all see a reduction in the cost and risk of operations.
Developing Louisiana SMC in Alexandria, Louisiana
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1119/232445_3acade1a14df7af4_001full.jpg
"Being located in Louisiana, where there is a strong Republican delegation, further highlights the advantages and opportune location to launch Ucore's REE refining and separation in the U.S.," stated Pat Ryan, CEO of Ucore. "The foreign trade zone status provided by our partner, the England Airpark & Community, is unique as it allows a competitive structure by reducing tariff burdens on the necessary foreign inputs and allowing a seamless avenue to service downstream customers with exported finished product."
# # #
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements
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 business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. The details of the legislation by which tariffs are implemented can potentially impact the effectiveness of the protections afforded by Foreign Trade Zones. 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 or results, and actual results or developments may differ materially from those in forward-looking statements.
Regarding any disclosure in the press release above about the US Department of Defense or the Government of Canada Programs and the expected successful progress and resulting milestone payments from these Programs, the Company has assumed that the Programs (including each of their milestones) will be completed satisfactorily. For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs (generally), see the risk disclosure in the Company's MD&A for Q3-2023 (filed on SEDAR on November 20, 2023) (www.sedarplus.ca) as well as the risks described below.
Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to complete the Demo Plant demonstration schedule and also later prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Element project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.
CONTACTS
Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.
For additional information, please contact:
Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232445
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