REM's Chairman to join the board of Bacanora

RNS Number : 4852G

Rare Earth Minerals PLC

04 March 2015

 

 4 March 2015

Rare Earth Minerals Plc.

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

REM's Chairman to join the board of Bacanora Minerals Ltd.

REM withdraws request for EGM of Bacanora.

London listed Rare Earth Mineral Plc (AIM: REM) is pleased to announce that REM's Chairman, David Lenigas, has been unanimously approved by the Bacanora Minerals Ltd ("Bacanora") board to join the board of directors of Bacanora as a non-executive director of the Bacanora, subject to and effective upon completion of standard regulatory clearances with the AIM and TSX-V.

With this appointment, Rare Earth Minerals Plc has agreed to withdraw its request to call a Special Meeting of the Bacanora's shareholders, as previously announced on February 12, 2015.

David Lenigas, The Company's Chairman, commented;

"REM believes that Bacanora will benefit from having the additional REM support on their board as Bacanora endeavours to maximise the potential of the highly prospective Sonora Lithium Project in northern Mexico as Sonora enters in to one of the most important and exciting phases of its development."

In a statement made by Bacanora on the TSX Venture Exchange (Canada) overnight, Colin Orr-Ewing, Non-Executive Chairman of Bacanora, commented:

"We are very pleased to have David join our board and we look forward to working together with him and having him bring his extensive global corporate and mining experience to assist in advancing the Company through this exciting time in its growth and development."

- 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, Mark Longson                                                                   [phone]

 

 

END

 

 

MSCSSWSMLFISEID