real-time news and commentary for investors
Wednesday, Sep 25
Rare Element -10.5% after announcing $8M offering
- Rare Element Resources (REE -10.5%) shares swirl to their lowest of the day after announcing an $8M offering.
- REE entered into a purchase agreement with investors agreeing to sell ~2.67M common shares and warrants to purchase up to ~1,33M shares; the price of each unit is $2.988, a 10% discount to yesterday's closing price.
- Proceeds from the offering will be used to advance engineering and metallurgical work as well as permitting on the Bear Lodge project and for general corporate purposes.