News Column

REM Fully Closes YAGM Equity Swap

May 27, 2014

ENP Newswire - 27 May 2014

Release date- 23052014 - Rare Earth Minerals (AIM: REM) is pleased to announce that it has completed the full Equity Swap Agreement with YA Global Master SPV, Ltd., which has now provided a total of GBP3,017,495 in cash funding from the 17 June 2013 until yesterday without issuing any further equity in the Company.

David Lenigas, the Company's Chairman commented: 'This YAGM Equity Swap has proved very successful for REM, having provided more than tenfold the original GBP300,000 funding envisaged and enabled REM to farm-in to the exciting Sonora Lithium Project in Mexico and pay for an extensive exploration and assessment programme, which continues today.'

YAGM Equity Swap

On the 17 June 2013, REM announced that it had entered into a GBP300,000 Placing Agreement and separately a GBP150,000 Equity Swap Agreement with YAGM. Under the Equity Swap Agreement, REM was to receive an additional GBP12,500 per month for a 12 month period from September 2013, or more per month dependent on the future price performance of the Company's ordinary shares ('Shares'). Under the 17 June Agreement, YAGM could elect to accelerate the payments due to REM under certain circumstances.

The recent share price performance of REM has led to accelerated payments under the Equity Swap Agreement, resulting in the complete closing of the Equity Swap. REM's total cash payments resulting from the Equity Swap now total GBP3,017,495.


Rare Earth Minerals plc

David Lenigas

Kiran Morzaria

Tel: +44 (0) 207 440 0647

WH Ireland Limited

James Joyce

Nick Field

Tel: +44 (0) 207 220 1666

Hume Capital plc

Guy Peters

Jon Belliss

Tel: +44 (0) 203 693 1470

Square1 Consulting

David Bick

Tel: +44 (0) 207 929 5

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Source: ENP Newswire

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