The Company sold an aggregate 837,000 shares of common stock at an effective price of
In addition, the Company sold an aggregate 420,000 shares of common stock at an effective price of
Proceeds have been used for ongoing exploration, sampling, drilling and preliminary design and engineering work relating to pending exploratory mine operations, as well as metallurgical and mineralogical studies, a study of developing a processing mill design, share repurchases and general working capital.
The funds have allowed the Company to continue its broader exploration, and to also expand the development of its requisite infrastructure.
In addition, the Company intends to extend the ongoing development of the company's premier properties in both
"We are very pleased with our successful fundraising over the past year," said
The Company said that its properties in the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Rare earth elements are critical to many existing and emerging 21st century applications including clean-energy technologies such as wind turbines, hybrid cars and electric vehicles; high-technology applications including cell phones and digital music players; hard disk drives used in computers; microphones; fiber optics; lasers; and in addition, critical defense applications such as global positioning systems, radar and sonar; and advanced water treatment applications, including those for industrial, military, homeland security, domestic and foreign aid use.
For more information visit: www.usrareearths.com
Safe Harbor Statement:
Some statements contained in this news release are forward-looking statements, and, therefore, involve uncertainties or risks that could cause actual results to differ materially. These statements may contain words such as "desires," "believes," "anticipates," "plans," "expects," "intends," "estimates" or similar expressions. These statements are not guarantees of the Company's future performance and are subject to risks, uncertainties and other important factors that could cause its actual performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Such statements include, but are not limited to, rare-earth industry risks, estimates of mineralized materials, litigation risks, plans to raise capital, and board, management and governance risks. Additional information regarding factors that could cause results to differ
materially from management's expectations is found in the Company's
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