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.”
FOR FURTHER INFORMATION PLEASE CONTACT:
Tracy A. Moore
Chief Executive Officer
Chief Operating Officer
Tel: (604) 638-8886