Canada Identifies Rare Earths as Critical Minerals
March 15, 2021
Canada Identifies Rare Earths as Critical Minerals
Vancouver, British Columbia: Canada Rare Earth Corp. (“Canada Rare Earth” or the “Company”) (TSX.V: LL) is currently conducting business in six countries: sourcing and selling rare earth products and establishing long term proprietary sources and value-add processing capability. Our goal is to become a secure, reliable and significant supplier of rare earth products.
On March 11, 2021 the Canadian Government issued an updated list of 31 critical minerals which include rare earths. Rare earths are critical in a multitude of industrial, consumer, medical and military applications such as electric vehicles, wind turbines, computers and mobile phones, medical diagnostics and fighter jets and submarines.
“As a proudly Canadian company with an expanding global business across five continents, Canada Rare Earth is fully prepared to direct our product flow to Canadian customers and users to meet their needs,” stated Tracy A. Moore, chief executive officer of the Company.
Chris Goodman, director of Canada Rare Earth and an experienced commodity trader explained, “the term ‘critical materials’ reflects high economic importance with a risk of supply shortage or interruption often due to geopolitical tensions, trade wars and/or a general lack of availability due to either the lack of the natural resource or the inability to process the materials. These materials, and rare earths in particular, are often fundamental to economic and environmental sustainability, emerging technologies and the transition to a low-carbon economy.
Recently, directors exercised 300,000 options and were granted options to acquire 2,000,000 shares vesting over 18 months and exercisable at $0.11 per share for five years.
About Canada Rare Earth Corp.
Canada Rare Earth is developing an international supply network based on proprietary, affiliated and third-party mineral sources and existing, developing and planned processing facilities. We are generating revenues and gross profits from the sale of rare earths and connected mineral products.
On behalf of the Board
Tracy A. Moore, CEO and Peter Shearing, COO
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.
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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