Rare Element Resources Announces Commencement of Rights Offering of Common Shares

LITTLETON, Colo. -- Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that today it has commenced the previously announced rights offering to raise up to approximately US$35.8 million in gross proceeds. The Company will issue to the holders of its common shares on December 15, 2023, the record date for the rights offering, at no charge, one and four-tenth (or 1.4) non-transferable subscription rights for each common share owned by each shareholder at the close of business on the record date. Each whole subscription right entitles the holder thereof to purchase one common share of the Company at a subscription price of US$0.12 per share (the “basic subscription privilege”). The rights offering also includes an oversubscription privilege that entitles shareholders who exercise their subscription rights in full under the basic subscription privilege the right to purchase additional common shares of the Company in the rights offering, subject to availability and the pro rata allocation of shares among rights holders exercising such oversubscription privilege. No fractional common shares will be issued in the rights offering. Read More