Ucore Rare Metals Inc. V.UCU

Alternate Symbol(s): UURAF

Metals & Mining Industrial Metals & Minerals

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.

TSXV:UCU - Post by User

Ucore Rare Metals Inc.

Bullboard Posts

Post by reeJoeyon Jun 21, 2019 2:27pm

68 Views

Post# 29850410

Surprise not being charged with starting WWII

LOL, just goofy! In IBC's dreams.

On February 19, 2019, IBC commenced a lawsuit against Ucore, Jim McKenzie and Peter Manuel, which is currently pending in the Federal District Court for the State of Utah (the "Federal Action"). The case advances contractual, common law and statutory claims, including breach of contract, breach of implied covenant of good faith and fair dealing, negligent misrepresentation, fraudulent concealment or fraudulent nondisclosure, breach of fiduciary duty, promissory estoppel, unjust enrichment and fraudulent inducement. IBC has demanded relief in excess of USD $40 million in the Federal Action.
In addition, IBC has commenced an action the state court of Utah (the "State Action"). That action was filed on January 2, 2019 against Ucore, Jim McKenzie, Mark MacDonald, Randy McGillivray, and John Does I and II, The State Action alleges Ucore has violated common and statutory law, by among other things, misappropriation of IBC's trade secrets and confidential information, infringement of IBC's trademarks, unfair competition, misrepresentation of IBC's intellectual property as Ucore's own; defamation of IBC and Steven Izatt, painting IBC and Steven Izatt in a false light, tortious interference with IBC's economic relations, and unjust enrichment. IBC is seeking not less than USD $20 million in damages in the State Action."