RARE EARTH METALS CORP.
TSX VENTURE : REM

RARE EARTH METALS CORP.

December 04, 2006 12:18 ET

Rare Earth Metals Corp. Increases Financing; December 15, 2006 Closing Date

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 4, 2006) - Rare Earth Metals Corp (TSX VENTURE:REM) (the "Company") is pleased to announce that further to the announcement dated October 30, 2006, the Company, on a non-brokered basis, plans to raise an increased amount of up to $750,000 through the issuance of 7,500,000 units at a price of $0.10 per unit, each unit consisting of one common share and one share purchase warrant. Each warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.15 for a period of one year from closing. A finder's fee of up to 8%, payable in cash and/or units may be paid in conjunction with all or parts of the financing.

Proceeds from this financing will be used for exploration activities on the Company's Manitoba VMS (copper zinc) properties in the Flin Flon-Snow Lake VMS belt and for general working capital purposes. The financing is subject to acceptance by the TSX Venture Exchange.

On Behalf of the Board of Directors, Rare Earth Metals Corp.

Richard Mark, CEO


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release.

Contact Information

  • Rare Earth Metals Corp.
    Richard Mark
    CEO
    (604) 986-2020 or Toll Free: 1-866-816-0118
    Website: www.rareearthmetals.net