Continues to Provide Financing Options as the Bear Lodge Project
Advances
Company Website:
http://www.rareelementresources.com
LAKEWOOD, Colo. -- (Business Wire)
Rare Element Resources Ltd. (NYSE MKT: REE and TSX: RES) (the
“Company”), a publicly traded, strategic materials company focused on
delivering rare earth products for technology and defense applications
by advancing the Bear Lodge Critical Rare Earth Project in northeast
Wyoming,announced today that it has filed a preliminary short
form base shelf prospectus with securities regulatory authorities in the
provinces of British Columbia, Alberta and Ontario (the “Qualifying
Jurisdictions”) to replace the Company’s short form base shelf
prospectus previously filed in July, 2013. Upon the Company filing and
receiving a receipt for its final short form base shelf prospectus (the
“Canadian Shelf”), from the securities regulatory authorities in the
Qualifying Jurisdictions, the Company will be able to offer and sell,
from time to time in one or more public offerings in the Qualifying
Jurisdictions, up to the equivalent of US$50 million of debt, equity, or
other securities of the Company during the 25-month period that the
Canadian Shelf, including any amendments thereto, remains effective.
“The replacement of our Canadian Shelf maintains the Company’s financing
flexibility as we continue to move the Bear Lodge Project forward,” said
Paul H. Zink, Senior Vice President and Chief Financial Officer. The
Canadian Shelf will complement a Shelf Registration Statement currently
effective with the U.S. Securities and Exchange Commission with
approximately US$30 million in remaining capacity. “Having effective
shelf registrations in both countries can allow the Company to react
quickly when market conditions warrant, helping to ensure continued and
timely progress on important tasks like Project permitting, separation
test work and advanced engineering,” he concluded.
The specifics of any future offering, along with the prices, terms and
use of proceeds of any such securities offered by the Company, will be
determined at the time of any such offering and will be described in
detail in a prospectus supplement filed at that time.
The securities registered may not be sold, nor may offers to buy be
accepted, prior to the time that the securities regulatory authorities
of the Qualifying Jurisdictions have issued a receipt for the Canadian
Shelf.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, in any state, province or
jurisdiction. Any offering of the securities covered by the Shelf
Registration Statement or the Canadian Shelf will only be made pursuant
to the prospectus included in the Shelf Registration Statement or
Canadian Shelf, respectively, and a related prospectus supplement
containing specific information about the terms of any such offering.
Rare Element Resources Ltd. is a publicly traded, strategic
materials company focused on delivering rare earth products for
technology and defense applications by advancing the Bear Lodge Critical
Rare Earth Project in northeast Wyoming. Bear Lodge is a significant
mineralized district containing many of the less common, more valuable,
critical rare earths that are essential for electronics, fiber optics,
laser systems for health and defense, as well as many evolving green
technologies, like hybrid cars, solar panels and wind turbines.
Permitting and feasibility work on the Project continues to advance. The
Company is an affiliate member of the U.S. Department of Energy’s
Critical Materials Institute, a combined government and private sector
organization committed to eliminating supply chain issues for rare
earths and other critical elements.
Copies of the preliminary short form base shelf prospectus may be
obtained at www.sedar.com,
or at the Company’s website at www.rareelementresources.com
or by contacting Robbin Lee at 720-278-2462 or rlee@rareelementresources.com.
Please contact Robbin Lee at 720-278-2462, or rlee@rareelementresources.com,
for additional information.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning
of securities legislation in the United States and Canada. Except for
statements of historical fact, certain information contained herein
constitutes forward-looking statements. Forward-looking statements are
usually identified by our use of certain terminology, including "will",
"believes", "may", "expects", "should", "seeks", "anticipates", "plans",
"has potential to", or "intends" or by discussions of strategy or
intentions. Such forward-looking statements include statements regarding
the impact of the Canadian Shelf and our U.S. Shelf Registration
Statement on our financing flexibility and ability to move the Bear
Lodge Project forward as well as statements regarding the acceptance of
the Canadian Shelf by the securities regulatory authorities in the
Qualifying Jurisdictions, and any future offering of securities of the
Company under the Canadian Shelf. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which
may cause our actual results or achievements to be materially different
from any future results or achievements expressed or implied by such
forward-looking statements. Factors that could cause actual results to
differ materially include, but are not limited to, the progress of our
Bear Lodge Project, fluctuations in demand for, and price of, rare earth
products; success of process technology under testing; timing of and
unexpected events at the Bear Lodge property; delay or failure to
receive government approvals and permits; changes in U.S. and Canadian
securities markets; our ability to obtain financing under the shelf
registration statements; the market for securities offered under the
Canadian Shelf and general economic conditions. There can be no
assurance that future developments affecting the Company will be those
anticipated by management. Please refer to the discussion of these and
other risk factors as set out in our filings made from time-to-time with
the U.S. Securities and Exchange Commission and the Canadian securities
regulators, including without limitation, the Company’s most recent
reports on Form 10-K and Form 10-Q. We do not undertake to update any
statements or estimates at any particular time or in response to any
particular event, other than in accordance with applicable law.
Investors and others should not assume that any forecasts in this news
release represent management’s estimates as of any date other than the
date of this news release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150824005980/en/
Contacts:
Rare Element Resources
Robbin Lee, 720-278-2462
rlee@rareelementresources.com
Source: Rare Element Resources Ltd.
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