Business
Canada Rare Earth Enters into Memorandum of Understanding for Financing and Strategic Arrangement with Talaxis
VANCOUVER, BC--(Marketwired - January 25, 2018) - Canada Rare Earth Corp. ("Canada Rare Earth" or the "Company") (TSX VENTURE: LL) is pleased to announce the fo
About this update from Canada Rare Earth Corp.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - January 25, 2018) - Canada Rare Earth Corp. (\"Canada Rare Earth\" or the \"Company\") (TSX VENTURE: LL) is pleased to announce the formation of a strategic business and financing arrangement with Talaxis Limited (\"Talaxis\"). Tracy A. Moore, Chief Executive Officer of Canada Rare Earth explained: \"We are very pleased to announce the close collaboration with Talaxis. Over the past year Canada Rare Earth has experienced excellent organic growth. With support of Talaxis's personnel, experience, systems, infrastructure and financing we expect to accelerate our development significantly and at an even faster pace. We expect that the arrangement with Talaxis will allow Canada Rare Earth to focus on what we do best: developing new sources of raw products, developing midstream processing facilities and customer relations. Talaxis is a perfect ally for us.\" Peter Shearing, Chief Operating Officer of Canada Rare Earth commented: \"By joining forces with Talaxis the Company will immediately acquire access to a global trading and distribution network which would otherwise have taken years to establish and provides the Company with the benefits associated with an international group with a long and recognized history as a commodities trader. As a result, we can accelerate our business momentum towards achieving our strategic goal of being one of the leading integrated rare earth providers.\" Daniel Mamadou, Executive Director of Talaxis said: \"Our focus is the development of an integrated supply chain of technology metals including rare earths, and part of our growth strategy includes teaming up with partners, whose platforms can be leveraged by taking advantage of our global logistics and marketing network. We value CREC's technical expertise, its access to refining capacity and most importantly its commitment to this industry. Canada Rare Earth will play an important role in the growth of Talaxis.\" Key Aspects of the Business and Financing Relationship Canada Rare Earth and Talaxis have signed a Memorandum of Understanding (\"MOU\") that sets out the proposed principles of a working relationship leading to cooperation in the development of supply chains in the rare earth industry. The terms and conditions are to be negotiated and included in subsequent definitive agreements which will detail arrangements...