Press release from TheNewswire.ca
Canada Rare Earths Increases Non-Brokered Private Placement to $700,000
Thursday, March 08, 2012
Canada Rare Earths Increases Non-Brokered Private Placement to $700,00006:27 EST Thursday, March 08, 2012(via Thenewswire.ca) Vancouver, British Columbia - March 8, 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. This Offering is subject to TSX Venture Exchange approval. For more information on Canada Rare Earths Inc., please visit www.canadarareearths.com or call 604.685.5851. 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 Corporate Office: 1500 - 1199 West Hastings Street Vancouver BC, Canada, V6E 3T5 Tel: 1 (604) 685-5851Fax: 1 (604) 685-7349 Email: email@example.com Web: www.canadarareearths.com Copyright (c) 2012 Thenewswire.ca - All rights reserved.