Agreement with YAGM

RNS Number : 0849B

Rare Earth Minerals PLC

02 October 2015

 

2 October 2015

Rare Earth Minerals Plc.

("Rare Earth Minerals", "REM" or "the Company")

Agreement with YAGM

Rare Earth Minerals (LSE AIM: REM) is pleased to announce that it has entered into a new agreement (the "Agreement") with YA Global Master SPV, Ltd. ("YAGM") to close out the existing Equity Swap Agreement with YAGM that was put in place and announced on 17 December 2014. Under the terms of the Agreement, in lieu of any future payments under the Equity Swap Agreement, the Company will receive a final cash payment of £1.25 million and the provisions under the original agreement will terminate.

Ends

For further information please contact: 

Rare Earth Minerals plc                                                                 [phone]

David Lenigas

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)                                       [phone]

James Joyce

Mark Leonard

Square1 Consulting

David Bick                                                                                           [phone]

Mark Longson

 

END

 

 

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