Texas Rare Earth Resources Announces Closing of Private Placement Financing
SIERRA BLANCA, TX--(Marketwired - Dec 7, 2015) - Texas Rare Earth Resources Corp. (
- Funding Strikes Balance Between Limiting Dilution and Advancing Round Top Heavy Rare Earth Project
Texas Rare Earth Resources Corp. (
The private placement included significant participation from existing institutional shareholders. No fees or commissions were paid in connection with the placement. The Company intends to use the net proceeds of the private placement for working capital to advance the Company's Round Top Project through continued metallurgical research and development, including fulfilling the Company's Department of Defense DLA Contract.
The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any applicable state securities laws and may not be offered or sold in the United States absent registration under the Securities Act and any applicable state securities laws or an applicable exemption from such registration requirements. Texas Rare Earth Resources has agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the common stock as well as the common stock underlying the warrants sold in the private placement.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Texas Rare Earth Resources Corp.
Texas Rare Earth Resources Corp.'s primary focus is exploring and, if warranted, developing its Round Top rare earth minerals project located in Hudspeth County, Texas, 85 miles east of El Paso. The Company's common stock trades on the OTCQX U.S. tier under the symbol "TRER."
Texas Rare Earth Resources Corp.
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