HALIFAX, NOVA SCOTIA--(Marketwired - Nov. 22, 2016) - Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or the "Company") is pleased to announce recent appointments to the Company's Board of Directors.
Mr. Patrick Ryan has been appointed as the Chairman of the Board of Directors. He is the founder of Neocon International ("Neocon"), a multi-million dollar OEM design and lean manufacturing company serving international leading automotive enterprises such as Toyota, Nissan and General Motors. From its North American base of operations, Neocon serves as a Tier One automotive supplier, focusing on the development and manufacture of innovative factory-installed vehicle components, using light weight and high strength materials, OEM green initiatives, and patented processes designed to reduce output cycle times and unit cost. Since Neocon's inception in 1993, Mr. Ryan has been the company's strategic architect, responsible for sales growth and capital acquisitions, while directing a team of R&D engineers and promoting stringent production standards. Under Mr. Ryan's direction, Neocon was acquired in 2002 by Exco Technologies, Ltd., a publically traded TSX company. Prior to founding Neocon, Mr. Ryan held positions as V.P. Operations for Plastics Maritime Ltd. and Product Design Engineer for T.S. Simms and Company. He mentors MBA students and graduating design engineers from Dalhousie University from which he holds a Bachelor of Engineering degree. He is the recipient of the APENS Award from the Association of Professional Engineers of Nova Scotia as "the most likely to serve society in an ethical manner".
Mr. Steven Meister has been appointed as a member of the Ucore Board of Directors. Mr. Meister is Director of Client Development and Delivery with Williams Engineering Canada Ltd. As a member of the senior leadership team at Williams, his key responsibilities include managing the Northern Canada Operating Region, as well as directing business development and project management. Mr. Meister has over 25 years of management and business development. Since 1995, he has been strategically involved in business initiatives throughout the mining, oil and gas, and utilities industries across northern and western Canada. Previously, Mr. Meister was employed by Stantec (formally Jacques Whitford Stantec AXYS) as Operations Manager for Northern Canada, and Business Development Manager for ARDICOM, an aboriginal partnership between Northern Aboriginal Services Company (NASCo), Arctic Cooperatives Limited (ACL) and Northwestel. He has also worked with numerous communities and key stakeholders, including First Nation businesses and regional organizations.
"We're delighted to announce these appointments to the Ucore Board," said Jim McKenzie, President and CEO of Ucore. "Tier One companies are the most technically-capable suppliers in the automotive manufacturing chain. As chief architect of Neocon, Mr. Ryan brings a vast skill set to Ucore as we transition to a revenue business model with energy metal production. The end customers of our Strategic Metals Complex will be tier one, two and three in a sophisticated supply chain, all of which Mr. Ryan is very attuned to serving, including such Global 1000 customers as General Motors, Nissan and Toyota among others. Mr. Meister is a specialist in senior business development, targeting leading companies in the mining, O&G, and utilities sectors. Together, these specialists make for an exceptional complement to Ucore's governance, management and advisory resources."
The Company notes that Mr. Jos De Smedt has resigned from the Board to pursue other business interests, remaining with Ucore in a consulting and advisory capacity for an initial term of 12 months. The Company wishes to thank Mr. De Smedt for his exceptional contribution to the Board over his many years with the Company.
The Company additionally reports that 300,000 options have been granted to a Director of the Company, subject to the approval of the TSX Venture Exchange. The options are exercisable at a price of $0.31 and will expire on November 19, 2021. One third of the options will vest after six months, with one third vesting every six months thereafter until fully vested.
Ucore Rare Metals, one of PwC Canada's top junior mining companies for 2016, is a development-phase company focused on rare metals resources, extraction and beneficiation technologies with near term potential for production, growth and scalability. On March 3, 2015, Ucore announced the right to acquire a controlling ownership interest in the exclusive rights to IBC SuperLig® technology for rare earths and multi-metallic tailings processing applications in North America and associated world markets. The Company has a 100% ownership stake in the Bokan project. On March 31, 2014, Ucore announced the unanimous support of the Alaska State Legislature for the investment of up to USD $145 Million in the Bokan project at the discretion of the Alaska Import Development and Export Agency ("AIDEA").
For further information, please visit http://www.ucore.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined by the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.