CREC Completes and Closes the $1,500,000 Convertible Loan Facility with Talaxis
Canada Rare Earth Completes and Closes the $1,500,000 Convertible Loan Facility with Talaxis
February 15, 2018
Canada Rare Earth Corp. (“Canada Rare Earth” or the “Company”) (TSX.V: LL) is pleased to announce the closing of the $1,500,000 convertible loan facility with Talaxis Limited (“Talaxis”) on terms set out in the news release dated January 30, 2018.
Tracy A. Moore, Chief Executive Officer of Canada Rare Earth commented: "We are very pleased to have closed this financing and thereby secured $1,500,000 of funds which, in addition to gross profits from trading activities, will provide adequate financial resources for the foreseeable future based on current level and structure of activities.”
Peter Shearing, Chief Executive Officer of Canada Rare Earth added: “We are pleased with the strong financial commitment by Talaxis. Together, we are exploring how the Talaxis organization and Canada Rare Earth can best utilize our respective experience, connections, skills and expertise in becoming a leading global rare earth provider on an accelerated basis.”
About Canada Rare Earth Corp.
Canada Rare Earth is developing an international integrated business within the global rare earth industry. Our immediate key focus is to generate revenues and positive cash flow from a variety of profit centres in the rare earth production and sales chain by sourcing, adding value and selling rare earths in all stages and forms. We are in the process of establishing our own mining, concentrating and refinery capabilities in addition to working with affiliated and third party organizations.
About Talaxis Limited
Talaxis, a company wholly owned by Noble Group, is involved in the investment and development of resources which are critical to green technology supply chains, including cobalt, lithium, and rare earths. Talaxis is also involved in the research and development of industrial applications related to energy solutions providers and permanent magnets consumers. Noble Group (SGX: CGP) manages a portfolio of supply chains covering a range of industrial and energy products. Noble facilitates the marketing, processing, financing and transportation of essential raw materials. For more information please visit www.thisisnoble.com.
On behalf of the Board
Tracy A. Moore, CEO and Peter Shearing, COO
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections. No assurance that the funding to purchase the Purchase Shares will be raised on reasonable terms or at all and there is no assurance that the permits will be issued in a timely manner or at all.”
For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tracy A. Moore
Chief Executive Officer
Chief Operating Officer
Tel: (604) 638-8886