Ucore Rare Metals Inc. Joins U.S. OTCQX International
HALIFAX, NOVA SCOTIA -- (Marketwire) -- 12/07/10 -- Ucore Rare Metals Inc. (TSX VENTURE: UCU)(OTCQX: UURAF)('Ucore' or the 'Company') is pleased to announce that its common shares have commenced trading on the OTC market's highest tier, OTCQX®, under the name Ucore Rare Metals Inc., symbol UURAF. Ucore's common shares continue to trade on the TSX under the symbol 'UCU'. Investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcqx.com and www.otcmarkets.com.
Berenbaum Weinshienk PC will serve as Ucore's Principal American Liaison ('PAL') on OTCQX, responsible for providing guidance on OTCQX requirements.
'American investors are well aware of the importance of Heavy Rare Earths to the economy and the significant investment opportunity with our unique Heavy Rare Earth deposit in Bokan, Alaska. Having Ucore graduate to the OTCQX will better serve our U.S. investor base by providing them with an alternative trading platform for our common shares,' said Ucore's President and C.E.O, Jim McKenzie. 'The OTCQX has earned a strong reputation for providing U.S. investors with improved liquidity, transparency, superior information, and easy access through their U.S. regulated broker-dealers.'
'Investors prefer the quality-controlled admission process on OTCQX which identifies the segment of OTC-traded companies focused on valuation and transparency,' said R. Cromwell Coulson, President and CEO of Pink OTC Markets. 'We are pleased to welcome Ucore Rare Metals to OTCQX.'
About Ucore Rare Metals
Ucore Rare Metals Inc. is a well-funded junior exploration company focused on establishing REE, uranium and other rare metal resources through exploration and property acquisition. 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 project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia. The project area is served by barge and float plane from Ketchikan, with a pre-existing road network providing access to the main target areas. REE mineralization at the Bokan-Dotson Ridge project is structurally controlled in multiple dikes radial to a Mesozoic peralkaline intrusive complex.
In 1989, a U.S. Bureau of Mines study (Barker & Warner, USBM OFR 33-89) estimated that the greater Bokan area contains 37.8 million tons grading 0.50% TREO. This historical non NI 43-101 compliant estimate equates to 374 million lbs of contained TREO and ranks as one of the most prospective and accessible heavy rare earth prospects in North America.
Readers are cautioned that the resource estimates quoted by the US Bureau of Mines were prepared prior to the implementation of National Instrument 43-101 and are therefore of a historical nature. A qualified person has not done sufficient work to classify the historical estimate contained hereunder as current mineral resources. The Company is not treating the historical resource estimate as a NI 43-101 defined resource or reserve, and therefore the historical resource estimate should not be relied upon.
This press release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
About OTCQX
The OTCQX marketplace is the premier tier of the U.S. OTC market. Investor-focused companies use the quality-controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. The innovative OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a U.S. stock exchange. For more information and to view a full list of OTCQX companies, visit www.otcqx.com.
About Pink OTC Markets Inc.
Pink OTC Markets Inc. (OTCQX: PINK) operates the leading electronic interdealer quotation and trading system for over 9,000 securities not listed on a U.S. stock exchange. Pink OTC Markets segments these securities into three tiers: the quality-controlled OTCQX marketplace, the U.S. registered and reporting OTCQB marketplace, and the speculative trading Pink Sheets marketplace. These three tiers constitute the third largest U.S. liquidity pool for trading public company shares, after The NASDAQ Stock Market, Inc. and The New York Stock Exchange. Our products and services promote market transparency, improve price discovery, facilitate regulatory compliance, and increase the quality of issuer disclosure, to the benefit of all OTC market participants. To learn more about how Pink OTC Markets' products and services make OTC markets more transparent, informed, and efficient, please visit our websites at www.otcmarkets.com, www.pinkotc.com and www.otcqx.com or contact us at info@pinkotc.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Ucore Rare Metals Inc.
Mr. Jim McKenzie
President and Chief Executive Officer
(902) 482-5214