RARE EARTH METALS CORP.

RARE EARTH METALS CORP.

January 11, 2005 15:42 ET

Rare Earth Metals Corp.: Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RARE EARTH METALS CORP.

TSX VENTURE SYMBOL: REM

JANUARY 11, 2005 - 15:42 ET

Rare Earth Metals Corp.: Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 11, 2005) - Rare Earth
Metals Corp., (TSX VENTURE:REM) (the "Company") announces that it has
closed the previously announced private placement of flow-through units
raising a total of $572,320. A total of 2,044,000 units were issued at
$0.28 per unit, each unit comprised of one flow-through share and
one-half warrant, with each whole warrant entitling the holder to
acquire one common share at a price of $0.40 per share until December
30, 2005. Finders' fees equal to 8% of the proceeds ($45,785.60) of the
offering were paid in cash by the Company to Canaccord Capital
Corporation, Haywood Securities Inc., Foster & Associates and First
Associates Investments Inc. (collectively, the "Finders"). The Company
also issued to the Finders, brokers' warrants equal to 10% of the units
sold (204,400) at an exercise price of $0.40 per share expiring December
30, 2005. The securities were issued subject to a hold period which
expires on May 1, 2005.

Proceeds from the private placement will be applied to the Company's
mining projects in Manitoba.

On behalf of the Board of Directors,

John Roozendaal B.Sc, President, CEO & Director

Rare Earth Metals Corp.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Rare Earth Metals Corp.
    John Roozendaal
    President & Director
    Toll Free: 1-866-816-0118
    Email: info@rareearthmetals.com
    Website: www.rareearthmetals.net
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the contents herein.