Rare Element Resources Ltd. (“Rare Element” or the “Company”) (OTCQB:
REEMF) announced today that its common shares commenced trading on
the OTCQB Venture Marketplace under the symbol “REEMF” effective at the
market open on Monday, February 29, 2016. OTCQB Venture Marketplace is
focused on development stage U.S. and international companies that are
current in their regulatory reporting and provide timely news and
disclosures to investors.
The Company’s common shares were delisted from the NYSE MKT prior to the
start of trading today following an announcement by the Company on
February 1, 2016, of its intention to voluntarily delist from the NYSE
MKT and transition to the OTC Pink marketplace. The Company was since
notified that it met the requirements to have its common shares trade on
the OTCQB marketplace, particularly with its commitment to continue
financial disclosures compliant with U.S. Securities and Exchange
Commission (“SEC”) reporting requirements.
As previously announced, the Company is implementing various cost
containment measures in the current, difficult capital and rare earth
market environments. Rare Element is also reviewing potential strategic
alternatives that could assist in maximizing shareholder value during
these challenging market conditions.
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
the filing of future periodic reports with the SEC and the potential for
pursuing and securing strategic alternatives. Factors that could cause
actual results to differ materially include, but are not limited to, the
Company’s ability to remain compliant with SEC reporting requirements,
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 SEC 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
such information 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.
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