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| Home : Rare Earth Metals Announces Private Placement Financing Increase to $2.8 Million and Closing |
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Oct 02
2012 |
Rare Earth Metals Announces Private Placement Financing Increase to $2.8 Million and Closing |
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VANCOUVER, BRITSH COLUMBIA--(Marketwire - Oct. 1, 2012) - Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company") (TSX VENTURE:RA)(PINKSHEETS:RAREF)(OTCQX:RAREF) is pleased to announce that it has received approval from the TSX-Venture Exchange (the "TSX.V") for an increase to $2.8 million of it its non-brokered private placement previously announced September 7, 2012 (the "Private Placement"). With the increase the Company has issued 2,000,000 units to Pinetree Resource Partnership at a price of $0.05 per unit bringing gross proceeds for the financing to $2.8 million. Each unit (a "Unit") under the Private Placement consists of one common share and one half of one common share purchase warrant. Each full common share purchase warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.10 for a period of 24 months following the closings of the Private Placement. The Units are subject to a 4 month hold period. |
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| Source:http://www.marketwire.com/mw/release.do?id=1707823&sourceType=3 |
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