Rare Element Resources Ltd. announces its plan to launch a rights offering for gross proceeds of approximately US$30.9 million.
The rights offering will grant shareholders the opportunity to purchase common shares at a subscription price of US$0.24 per share.
Proceeds from the offering will be used to support various projects and corporate purposes.
Rights Offering Details
Shareholders as of the Record Date will receive subscription rights to purchase common shares at a specified price.
Use of Proceeds
Proceeds will support the operation of a demonstration plant, project advancements, and general corporate purposes.
Oversubscription Privilege
Shareholders who fully exercise their subscription rights can purchase additional common shares, subject to availability.
- The launch of the rights offering demonstrates Rare Element Resources' commitment to funding key projects and maintaining operations.
- The offering provides existing shareholders with an opportunity to increase their ownership in the company at a favorable price.
Rare Element Resources aims to utilize the proceeds from the rights offering to advance its Bear Lodge Rare Earth Project and support its corporate objectives.