Canada Rare Earth – In the Business of Rare Earths – Recent Shipment Delivered
May 25, 2020
Canada Rare Earth – In the Business of Rare Earths – Recent Shipment Delivered
Vancouver, British Columbia: Canada Rare Earth Corp. (“Canada Rare Earth” or the “Company”) (TSX.V: LL) is developing an international supply chain business based on existing, developing and planned processing facilities and our commodity- trading platform.
The Company is pleased to advise that the shipment of 100,000 kilos of mixed concentrate, announced on April 14, 2020, sourced from two suppliers, has been delivered and accepted by our customer base. The majority of the shipment (75,000 kilos) was sourced from an established supplier and the balance of the shipment (25,000 kilos) was sourced from a new supplier and is a new and complementary material which is undergoing testing. If the tests are successful the newly sourced material will provide an augmentation to future shipping tonnage.
We also announce that, subject to approval from the TSX Venture Exchange, the Company will be settling $8,870 of debt and provided services by issuing 177,400 shares at a deemed price of $0.05 per share. All securities issued will be subject to a four-month hold period.
On behalf of the Board,
Tracy A. Moore, CEO and Peter Shearing, COO
ABOUT CANADA RARE EARTH CORP.
Canada Rare Earth is developing an international supply network business based on our commodity-trading platform and existing, developing and planned processing facilities. We are generating revenues and gross profits as we develop our network based on the rare earth industry and with increasing attention directed to valuable by-products. Our business involves sourcing, adding value and selling rare earths and other mineral products in all stages and forms utilizing proprietary, affiliated and third-party sources and facilities.
Neither 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. Forward-looking statements in this release are made pursuant to the ‘safe harbour’ provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
We seek Safe Harbor.
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:
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Tracy A. Moore Chief Executive Officer |
Peter Shearing Chief Operating Officer |
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Telephone: (604) 638-8886 Website: www.canadarareearth.com |
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