Texas Rare Earth Resources Announces Closing of Private Placement Financing

Dec. 7, 2015 6:00 am

SIERRA BLANCA, TX--(Marketwired - Dec 7, 2015) - Texas Rare Earth Resources Corp. (OTCQX: TRER)

  • Funding Strikes Balance Between Limiting Dilution and Advancing Round Top Heavy Rare Earth Project

Texas Rare Earth Resources Corp. (OTCQX: TRER), an exploration company targeting the heavy rare earths, announced today that it has closed a private placement involving the issuance of 3,297,500 units ("Units") at $0.20 per unit for a total of $659,500. Each Unit consists of one share of common stock and two common stock purchase warrants. Each warrant allows the holder to purchase one share of common stock at a price of $0.35 until December 7, 2020.

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."

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding the potential development of the Round Top project, the use of proceeds from the private placement and the future registration of securities. When used in this press release, the words "potential," "indicate," "expect," "intend," "hopes," "believe," "may," "will," "if, "anticipate," and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks related to changes in future operating costs and working capital balance, risks related to mineral estimates, risks related to mining results not matching preliminary tests and risks related to the ability of the company to successfully monetize its non-rare earth resources, as well as those factors discussed under the heading "Risk Factors" in the Company's latest annual report on Form 10-K, as filed on November 30, 2015, and other documents filed with the U.S. Securities and Exchange Commission. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements.

Company Contact:
Texas Rare Earth Resources Corp.
Anthony Marchese
E-mail: Email Contact

December 7, 2015 - 6:00 AM EST

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