Common Shares Will Trade on the OTC Pink Marketplace
Rare Element Resources Ltd. (the “Company”) (NYSE MKT: REE)
announced today that it has notified the NYSE MKT of its decision to
voluntarily delist its common shares from the NYSE MKT.
Like other rare earth companies, the Company has pursued vigorous cost
cutting over the past year. The Company’s board of directors has
determined that it would be in the best interest of the Company and its
shareholders to voluntarily delist from the NYSE MKT exchange due to
costs associated with the continued listing and NYSE MKT continued
listing requirements. The Company will continue to file periodic reports
with the U.S. Securities and Exchange Commission pursuant to the
requirements of the Securities Exchange Act of 1934, as amended.
The Company anticipates that the last day of trading for its common
shares on the NYSE MKT will be on or about February 22, 2016. The
Company intends to have its shares traded on the OTC Pink Current
Information marketplace once the delisting from NYSE MKT is complete.
Rare Element Resources Ltd. is a publicly traded, strategic
materials company focused on delivering rare earth products for
technology and defense applications by advancing the Bear Lodge Critical
Rare Earth Project in northeast Wyoming. Bear Lodge is a significant
mineralized district containing many of the less common, more valuable,
critical rare earths that are essential for electronics, fiber optics,
laser systems for health and defense, as well as many evolving green
technologies, like hybrid cars, solar panels and wind turbines. The
Company is an affiliate member of the U.S. Department of Energy’s
Critical Materials Institute, a combined government and private sector
organization committed to eliminating supply chain issues for rare
earths and other critical elements.
Please contact Paul Zink at 720-278-2460, or pzink@rareelementresources.com,
for additional information.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning
of securities legislation in the United States and Canada. Except for
statements of historical fact, certain information contained herein
constitutes forward-looking statements. Forward-looking statements are
usually identified by our use of certain terminology, including “will,”
“believes,” “may,” “expects,” “should,” “seeks,” “anticipates,” “plans,”
“has potential to,” or “intends,” or by discussions of strategy or
intentions. Such forward-looking statements include statements regarding
when the delisting from the NYSE MKT is expected to become effective,
the filing of future periodic reports with the SEC, and the trading of
the Company’s common shares on the OTC Pink marketplace. Factors that
could cause actual results to differ materially include, but are not
limited to, the Company’s ability to meet the OTC Pink marketplace
standards, market conditions, and other matters discussed under the
caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal
year ended December 31, 2014, and our other periodic and current reports
filed with the SEC and available on www.sec.gov
and with the Canadian securities commissions available on www.sedar.com.
There can be no assurance that future developments affecting the Company
will be those anticipated by management. Please refer to the discussion
of these and other uncertainties and risk factors set out in our filings
made from time to time with the United States Securities and Exchange
Commission and the Canadian regulators, including, without limitation,
our reports on Form 10-K and Form 10-Q. We expect that the above
estimates will change as new information is received and that actual
results will vary from these estimates, possibly by material amounts.
While we may elect to update our forward-looking information at any
time, we do not undertake to update at any particular time or in
response to any particular event. Investors and others should not assume
that any forecasts in this press release represent management’s estimate
as of any date other than the date of this press release.
![](http://cts.businesswire.com/ct/CT?id=bwnews&sty=20160201006358r1&sid=ntxv4&distro=nx&lang=en)
View source version on businesswire.com: http://www.businesswire.com/news/home/20160201006358/en/
Copyright Business Wire 2016