News News
Contact us
  • Customer service number:64321087
  • Commercial service telephone:13918059423
  • Technical service telephone:13918059423
  • Contact person: Mr. Cui 
  • Service email:shxtb@163.com
  • Address: room 107, building 8, no. 100, guilin road, xuhui district, Shanghai

Canada Rare Earth and Talaxis Extend Repayment Date on $500,000 Loan

The date of: 2019-02-19
viewed: 2

Source:

VANCOUVER, British Columbia, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Canada Rare Earth Corp. (“Canada Rare Earth” or the “Company”) (TSX.V: LL) is pleased to announce the three-month extension of the repayment date for $500,000 of the loan provided by Talaxis Limited to April 30, 2019.

The extension preserves working capital for the Company (currently over $1,000,000) and continues the right for Talaxis Limited to convert the $500,000 principal at 7.5 cents per unit (a unit is comprised of one share and one-half warrant).

In January 2018, Canada Rare Earth entered into a $1.5 million funding arrangement with its strategic and financing partner, Talaxis Limited. In August 2018, $300,000 was converted into shares and warrants leaving $500,000 convertible or repayable by January 31, 2019 and $700,000 convertible or repayable by January 31, 2020. All other terms of the funding arrangement continue as set out in our news release of January 30, 2018.

On behalf of the Board

Tracy A. Moore, CEO and Peter Shearing, COO 

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. Forward-looking statements in this release are made pursuant to the ‘safe harbour’ provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.


Hot News / Related to recommend
Copyright ©Copyright 2018 2020 Shanghai rare earth association All Rights Reserved Shanghai ICP NO.05017621
the host:Shanghai Association of Rare Earth the guide:Shanghai Development and Application Office of Rare Earth the organizer:Shanghai rare earth industry promotion center
犀牛云提供云计算服务