Commission Approves Settlement Agreement with Local Mining Company

The Nova Scotia Securities Commission has approved a settlement agreement with Ucore Rare Metals Inc.

Ucore violated Nova Scotia securities laws by failing to file several continuous disclosure documents in a timely manner, between December 2010 and March 2012. Since the violations, the company has filed all of its continuous disclosure documents.

The company accepted responsibility for its conduct and was co-operative with commission staff. Ucore also revised its disclosure policies to ensure future filings will be submitted on time.

"All investors in public companies deserve continuous and timely disclosure to allow them to make informed investment decisions. Also, in order to treat all listed companies fairly and equally, they have to meet their filing requirements and have to file on time," says Kevin Redden, director of corporate finance for the Nova Scotia Securities Commission.

The commission approved the settlement agreement and ordered Ucore Rare Metals Inc. to:

• comply with Nova Scotia securities laws
• pay an administrative penalty of $2,000
• pay $500 in costs for commission proceedings

The Nova Scotia Securities Commission is the provincial government agency responsible for regulating trading in securities in the province. To view the order visit http://www.gov.ns.ca/nssc/docs/UcorePressOrder%20Feb%207%202013.pdf.