Rare Element Resources Announces Results of Oversubscribed Rights Offering of Common Shares
Rare Element Resources Ltd. (the Company or RER) (OTCQB: REEMF) is pleased to report that its previously announced rights offering of common shares was oversubscribed and generated approximately US$25.4 million in gross proceeds.
- Rare Element Resources Ltd. (the Company or RER) (OTCQB: REEMF) is pleased to report that its previously announced rights offering of common shares was oversubscribed and generated approximately US$25.4 million in gross proceeds.
- The Company will effectively be issuing all of the common shares that were available for subscription under the rights offering.
- Following the issuance of new common shares pursuant to the rights offering, it is expected that Synchron will own approximately 54.8% of the common shares outstanding.
- Such forward-looking statements include statements regarding the rights offering, the expected proceeds from the rights offering, the number of shares to be issued in the rights offering and the expected timing for such issuance, Synchrons expected ownership percentage of the outstanding common shares and the expected use of proceeds from the rights offering.