REM increases interest in European Lithium Project

RNS Number : 4448C

Rare Earth Minerals PLC

15 October 2015

 



15 October 2015

Rare Earth Minerals Plc.

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

REM increases interest in significant European Lithium Project.

London listed Rare Earth Minerals Plc (AIM: REM), is pleased to announce that it has increased its strategic stake in one of the most significant lithium deposits in Europe, the Cinovec deposit ("Cinovec") in the Czech Republic to 11.87% through a direct holding in the share capital of European Metals Holdings Limited (ASX code: EMH) ("European Metals") that owns 100 per cent of the exploration rights to the Cinovec lithium/tin deposit.

REM acquired the additional 2.07% holding in European Metals at a cost of £170,640 via a placement of  2 million new ordinary shares by European Metals. In addition each new ordinary share carries a one for one option exercisable at A$0.20 expiring 1 year from the date of issue.

For full details please refer to European Metal's releases to ASX. These can be found on its website: www.europeanmet.com.

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, Mark Longson                                                                            [phone]

 

 

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