Ucore Rare Metals (TSE:UCU) has released an update.
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Ucore Rare Metals Inc. has announced plans to extend the maturity date of its 2020 Convertible Debentures to January 31, 2026, and amend its conversion terms, offering a conversion price of $0.90 per unit with associated warrants. The company will pay a restructuring fee equivalent to six months of interest, with these changes subject to TSX Venture Exchange approval. As part of the amendments, holders of over $1 million in debentures have agreed to the new terms, including transactions involving the company’s executives, which are exempt from certain formal valuation requirements.
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