On March 12, 2024, Rare Element Resources Ltd. (the “Company”) closed an approximately US$35.8 million rights offering (the “Offering”) to purchase common shares of the Company (the “Common Shares”).
Pursuant to the Offering, the Company issued approximately 298.1 million Common Shares (including approximately 206.8 million Common Shares issued to holders who exercised their basic subscription privilege) at US$0.12 per share. Of the total shares issued, approximately 244.4 million Common Shares were issued to the Company’s majority shareholder, Synchron, which exercised its basic subscription and oversubscription privileges in full.
Fasken advised the Company with a team led by John Sabetti, including Josh Hersh.
Jurisdiction
- Ontario
