Ucore Rare Metals Inc. announced that it has executed a binding Share Purchase Agreement (the "Purchase Agreement") with Innovation Metals Corp. ("IMC") and its shareholders, dated April 25, 2020, whereby Ucore will acquire 100% of the issued and outstanding shares of IMC (the "Acquisition"). Following the closing of the Acquisition, Dr. Gareth Hatch (the Chairman and CEO of IMC) will join Ucore's management team and will become Ucore's Chief Technology Officer. Dr. Hatch will also continue to serve as IMC's chief executive. Dr. Hatch began his career at US-based Dexter Magnetic Technologies Inc., where he was Director of Technology and led the company's applications engineering and quality-management teams.