By Laura Lutz
Des Moines, Nov. 6 - Rare Element Resources Ltd. settled a private placement of units for C$1.08 million, up from the C$1 million deal size announced on Oct. 15.
The company sold 1,075,000 units of one share and one non-transferable half-share warrant at C$1.00 per unit. Each whole warrant will be exercisable at C$1.35 for 18 months.
The placement is non-brokered.
Proceeds will be used to advance the company's gold and rare earth projects in Wyoming and for general corporate purposes.
Rare Element is a resource exploration company based in Vancouver, B.C.
| Issuer: | Rare Element Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1,075,000
|
| Units: | 1,075,000
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.35
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 15
|
| Settlement date: | Nov. 6
|
| Stock symbol: | TSX Venture: RES
|
| Stock price: | C$1.15 at close Oct. 15
|
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