Rare Element Resources Repurchases 640 Acres of Real Property in Wyoming

Rare Element Resources Ltd., a Canadian company based in British Columbia, recently announced the repurchase of 640 acres of non-core real property located in Crook County, Wyoming. This repurchase was made in accordance with the terms of an asset purchase agreement dated October 20, 2016, and subsequently amended on October 25, 2021, between Rare Element Resources, Inc. and Whitelaw Creek LLC.

The company’s Wyoming subsidiary exercised its option to repurchase the real property adjacent to the Bear Lodge rare earth elements project. The repurchase agreement was finalized on October 21, 2024, with the transaction officially closing on October 25, 2024.

In exchange for the repurchase, Rare Element Resources Ltd. issued 5,000,000 of its common shares to Whitelaw Creek and made a cash payment of $1,507,000. The transfer, sale, or exchange of these shares as part of the Land Repurchase transaction falls under exemptions, including Section 4(a)(2) of the Securities Act of 1933 and Rule 506.

Wayne E. Rich, the Chief Financial Officer of Rare Element Resources Ltd., signed the report on behalf of the company as required by the Securities Exchange Act of 1934. The repurchase of the real property signifies a strategic move aimed at bolstering the company’s asset portfolio in the region.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Rare Element Resources’s 8K filing here.

Rare Element Resources Company Profile

Rare Element Resources Ltd. engages in the exploration of mineral properties in the United States and Canada. It holds 100% interest in the Bear Lodge property that comprises the Bear Lodge REE project; and the Sundance Gold project located in Crook County, northeast Wyoming. Rare Element Resources Ltd.