Rare Element Resources Announces Intent to Launch Rights Offering of Common Shares
Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that it intends to launch a rights offering for gross proceeds of approximately US$36 million, if all subscription rights are exercised under the rights offering.
- Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that it intends to launch a rights offering for gross proceeds of approximately US$36 million, if all subscription rights are exercised under the rights offering.
- There is no minimum amount of gross proceeds that is required to be raised under the rights offering.
- The rights offering will also include an oversubscription privilege, which will entitle shareholders who exercise all of their subscription rights under the basic subscription privilege the right to purchase additional common shares of the Company in the rights offering, subject to availability and pro rata allocation of shares among rights holders exercising such oversubscription privilege.
- The Company will offer common shares in the rights offering, inclusive of the oversubscription privilege, representing approximately US$36 million of gross proceeds, if all subscription rights are exercised.