ESGBreaks – Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) Issues Corporate Update, Extends Term of Outstanding Convertible Debentures
Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF) today provided a corporate update and announced that it intends to extend the term of certain outstanding convertible debentures, which currently have a maturity date of May 31, 2023. According to the update, the debentures were originally issued in May of 2020, with a three-year term. On May 21 and 29, 2020, Ucore issued 1,280 and 1,520 convertible debentures respectively, with a face value of $1,000 each for total gross proceeds of $2.8 million. These unsecured debentures bear interest at a rate of 7.5% payable semi-annually and mature on May 31, 2023. Per…