0.17 Un & 0.20 Fl Thr Un PP's NR popAPRIL 3, 2006
Rare Earth Metals Corp. Announces 2,000,000 Unit Financing
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 3, 2006) - Rare Earth
Metals Corp (TSX VENTURE:REM) (the "Company") proposes, on a
non-brokered
basis, to raise up to $370,000 by the issuance of 1,000,000 units at a
price of $0.17 per unit (the "17c Unit") and 1,000,000 units at a price
of
$0.20 per unit (the "20c Unit").
Each 17c Unit will consist of one common share and one share purchase
warrant, with each warrant entitling the holder thereof to purchase one
common share of the Company at a price of $0.25 for a period of one year
from closing.
Each 20c Unit will consist of one flow through common share and one
non-flow through share purchase warrant, with each warrant entitling the
holder thereof to purchase one common share of the Company at a price of
$0.28 for a period of one year from closing.
Finder's fees of up to 8% in cash or shares, or a combination of both,
may
be paid in conjunction with this placement and in accordance with the
TSX
Venture Exchange policies.
Proceeds from this financing will be used for exploration activities on
the Company's Manitoba VMS (copper zinc) properties in the Flin
Flon-Snow
Lake VMS belt. This financing is subject to regulatory approval.
On Behalf of the Board of Directors,
Rare Earth Metals Corp.
Richard Mark, CEO