Canada Rare Earths Increases Non-Brokered Private Placement to $700,000
Vancouver, British Columbia - March 5th, 2012 - Canada Rare Earths Inc. ("Canada Rare Earths" or the "Company") (TSX.V: CJC; FSE: YXEN; OTC-BB: CJCFF) has increased the size of its previously announced non brokered private placement (the "Offering") by up to $100,000. The Offering now constitutes up to 7,000,000 units (the "Units") at a price of $0.10 cents per Unit for gross proceeds of up to $700,000. Each Unit consists of one common share and one non-transferable share purchase warrant, each warrant entitling the holder to purchase one additional common share of the Company at a price of $0.20 for a period of two years from the date of closing.
Proceeds from the Offering will be used to advance the Company's graphite projects and for general working capital.
Finder's fees may be payable in connection with this Offering.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board,
"Chad McMillan" President & CEO
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the possible completion of a private placement and the intended use of proceeds constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company is able to obtain any required government or other regulatory approvals to complete the Company's planned private placement. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors relating to Canada Rare Earth's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks may include, among others, actual results of the Company's exploration activities being different than those expected by management, delays in obtaining required government or other regulatory approvals or financing, inability to procure equipment and supplies in sufficient quantities and on a timely basis, equipment breakdowns and bad weather. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. Canada Rare Earths does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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