Rare Element Res (REEMF) has released an update.
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Rare Element Resources Ltd. (RER) has successfully completed an oversubscribed rights offering, raising approximately $35.8 million by issuing around 298.1 million common shares at $0.12 each. The new shares will be allocated proportionally among shareholders, with the majority shareholder Synchron poised to own about 70.6% of the company post-issuance. These funds are earmarked to advance RER’s Bear Lodge rare earth elements project and for other corporate purposes.
For further insights into REEMF stock, check out TipRanks’ Stock Analysis page.
