Canada Rare Earth Renews Exclusive Distributorship Agreement for High Purity Rare Earths
Canada Rare Earth Renews Exclusive Distributorship Agreement for High Purity Rare Earths
December 6, 2021
VANCOUVER, BRITISH COLUMBIA - Canada Rare Earth Corp. ("Canada Rare Earth" or the "Company") (TSX.V: LL) is pleased to announce the renewal of an exclusive distribution agreement with Ganzhou Zhanhai Industrial and Trade Co., Ltd. (“Ganzhou”) for specialty rare earth products including high purity rare earth products (the “Agreement”).
Canada Rare Earth, with this Agreement renewal, continues with the exclusive right to market, distribute, and sell the Ganzhou’s rare earth products in Europe, the Americas, Russia and India and the non-exclusive right in Asia.
The Ganzhou product line includes high-purity rare earth products integral to a wide variety of high-performance products, particularly electronics and magnets. Specific examples include magnets and electric motors, atomic energy, catalytic cracking for oil processing, automotive catalytic convertors, lighting, ceramics, and glass.
In addition to standard products and processes, Ganzhou’s production and engineering team has the capability to adjust and modify their processes to meet stringent and unique customer specifications and create proprietary customer products. As an example of this capability, Ganzhou is the exclusive supplier of high-purity gadolinium oxide to the China Nuclear Industry Corporation. Ganzhou’s technical prowess in the rare earth industry is further evidenced and protected by patents granted and in progress.
The high purity rare earth product portfolio includes:
- High purity single rare earth oxides – with purity as high as 99.9999%,
- Co-precipitated products such as Nd-Pr or La-Ce-Tb,
- Specialty products including micro nanometer, nanometer and large grain sizes; large and small specific surface area products; and special appearance products, and
- Rare earth salts including yttrium fluoride, neodymium fluoride, and lanthanum fluoride.
Additional information on the product line can be found on the Canada Rare Earth website: http://www.canadarareearth.com/product-sales
Elyse Kohyann, Head of Global Trading for Canada Rare Earth remarked, “We are very pleased to be working with Ganzhou to supply high-quality rare-earth products to our customer base. They have a full spectrum of capabilities for high-purity rare earth products that are required for high performance product lines, particularly electronics and magnets. Our customers welcome the ability to access these types of products that are critical to their businesses, but which can be very difficult to obtain.”
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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