23 Aug 2013 07:00

22 August 2013
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Rare Earth Minerals plc
(the "Company")
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Equity Placement
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Rare Earth Minerals plc (AIM: REM) the rare earth minerals and metals projects investment company is pleased to announce that it has raised gross proceeds of £750,000 in a placing to investors of 150,000,000 new ordinary shares of 0.01p each in the capital of the Company ("Shares") at a placing price of 0.5 pence per Share (the "Placing Shares") together with a warrant for every two Placing Shares subscribed, each warrant entitling the holder to subscribe for one Share at a price of 0.5 pence per Share before 31 August 2014.
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The Company has received legally binding acceptances in respect of the Placing Shares. Once all the funds have been cleared the placing will be completed and the Company will make a further announcement of the issue of the Placing Shares and their date of admission to AIM, which is expected by 6 September 2013. The Placing Shares will rank pari passu in all respects with the Company's existing ordinary shares.
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The funds raised will be used by the Company to exercise its option to acquire a further 20% holding in the Fleur-El Sauz project, increasing its interest from 10% to 30% once the maiden resource statement, which is expected imminently, is published.
For further information please contact:
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Rare Earth Minerals plc | +44 (0) 207 440 0647 |
David Lenigas | |
Richard Griffiths | |
W.H. Ireland | +44 (0) 207 220 1666 |
James Joyce | |
Nick Field | |
Pelham Bell Pottinger | +44 (0) 207 861 3864 |
James MacFarlane | |
Marcin Zydowicz | |
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