UURAF Ucore Rare Metals Inc (QX)

HALIFAX, NOVA SCOTIA--(Marketwired - Feb 18, 2014) - Ucore Rare Metals Inc. (TSX-VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or "the Company") is pleased to announce the appointment of Mr. Randall (Randy) Johnson to the Company's Advisory Board.

Mr. Johnson is the President of Tyler Rental Inc., an Alaska-based enterprise with over $50 million in assets and 75 employees, which he founded as a start-up in 1989 and subsequently grew to a multi-state enterprise.

Mr. Johnson formed Alaska Ship and Drydock ("ASD") to operate the Ketchikan Shipyard under contract with the State of Alaska Department of Transportation and Public Facilities in 1993. Working in conjunction with the Alaska Industrial Development and Export Authority (AIDEA), he guided an $80 million shipyard expansion project at ASD, including a new 2,500 ton dry-dock, upland ship berthing and an 80,000 square foot ship assembly hall and production support complex. He sold the company to Vigor Industrial in 2012, having grown it into a thriving enterprise with annual revenues of $35 million and up to 200 employees.

In addition to Tyler and ASD, Mr. Johnson's business operations and ownership experience includes such Southeast Alaska enterprises as Ty-matt Construction and Ketchikan Ready Mix and Quarry.

"We're extremely pleased to have Mr. Johnson joining us as Bokan enters the late stages of mine planning and pre-construction," said Jim McKenzie, President & CEO of Ucore. "His exceptional track record of building businesses from the ground up, and his knowledge of the Alaskan business landscape, in particular, make him an invaluable addition to the Ucore Advisory Board."

Commensurate with his appointment, Mr. Johnson will be granted 150,000 stock options, subject to the approval of the TSX Venture Exchange. The options are exercisable at a price of $0.27 per share and will expire on February 17, 2019. One third of the options will vest six months after the date of the grant, with an additional third to vest every six months thereafter until fully vested.

Mr. Johnson resides in Ketchikan and has been a resident of Alaska for 33 years.

Cautionary Notes

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

About Ucore Rare Metals Inc.

Ucore Rare Metals Inc. is a development-phase mining company focused on establishing rare metal resources with near term production potential. With multiple projects across North America, Ucore's primary focus is the 100% owned Bokan - Dotson Ridge REE property in Alaska. The Bokan - Dotson Ridge REE project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in developing near term production facilities and limiting the capital costs associated with mine construction.

Ucore Rare Metals Inc.Mr. Jim McKenziePresident and Chief Executive Officer(902) 482-5214www.ucore.com

Ucore Rare Metals (QX) (USOTC:UURAF)
Historical Stock Chart
From Nov 2024 to Dec 2024

Ucore Rare Metals (QX) (USOTC:UURAF)
Historical Stock Chart
From Dec 2023 to Dec 2024