News Column

REM secures US$10 million debt facility to fund further acquisitions

June 17, 2014



ENP Newswire - 17 June 2014

Release date- 13062014 - Rare Earth Minerals is today pleased to announce that it has secured a 3-year US$10 million debt facility with YA Global Master SPV Ltd, with the first US$3 million being drawn down today.

The first draw down carries a twelve-month repayment schedule at a fixed coupon of 10%. Any subsequent drawdowns would be on the same terms and subject to approval by YAGM.

This first draw down increases the Company's cash at bank and liquid investments to over US$15 million.

David Lenigas, the Company's CEO, commented; 'As previously stated, REM has more than sufficient cash reserves to meet its expected financial commitments for the next 12 months in Mexico, Greenland and Australia. This new debt facility will significantly add strength to the Company's balance sheet and provide additional fire power to assist with further acquisitions.'

Contact:

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

Mark Longson

Tel: +44 (0) 207 929 5599


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Source: ENP Newswire


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