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Ucore Rare Metals Inc. V.UCU

Alternate Symbol(s):  UURAF

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

Comment by jrhjr1127on May 23, 2021 5:24pm
132 Views
Post# 33255817

RE:RE:RE:RE:RE:RE:RE:It's Saturday, Why?, What it could mean.

RE:RE:RE:RE:RE:RE:RE:It's Saturday, Why?, What it could mean.Dragon,

This is from the Dec 31, 2017 Management's Discussion and Analysis. As you can see, it was an agreement to acquire the rights. I'm almost certain that Ucore never paid IBC the balance of $1 million due on the licensing fee.

On March 3, 2015 the Company announced that it had entered into an agreement with IBC Advanced Technologies to acquire the exclusive rights to IBC’s MRT for rare earth separation and recycling applications, in addition to tailings processing applications. Under the terms of the agreement, the Company has agreed to pay a one-time licensing fee to IBC in the amount of $2.9 million USD. The Company has made payments of approximately $1.9 million up to December 31, 2017 towards this licensing fee.


As evidence that the balance of $1 million was not paid, I cite this quote from the Dec 31, 2019 MD&A. This is from the IBC Litigation section. Identical wording appears in the June 30, 2020 MD&A.

Payments Under Previous Agreements: Payments totaling USD$2.9 million pursuant to previous agreements between Ucore and IBC must be completed prior to the closing of the Purchase Transaction. To date, Ucore has made advance payments totaling USD$1.9 million against this amount.

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