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Gecko Namibia announces acquisition of shares of Namibia Rare Earths Inc.
Gecko Namibia announces acquisition of shares of Namibia Rare Earths Inc. Canada N...
About this update from Namibia Critical Metals Inc.
[{"type":"text","content":"\n\n\n\nGecko Namibia announces acquisition of shares of Namibia Rare Earths Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nHALIFAX, Feb. 21, 2018\n\n\n\nHALIFAX, Feb. 21, 2018 /CNW/ - In accordance with National Instrument 62-103, Gecko Namibia (Pty) Ltd. (\"Gecko\"), announced today that it acquired, by way of a private placement, a total of 5,500,000 common shares of Namibia Rare Earths Inc. (\"Company\") at a price of CDN$0.05 per common share for total consideration of Cdn$275,000. Gecko also announced today that it acquired a total of 64,000,000 common shares of the Company pursuant to an acquisition and exchange agreement with the Company whereby the Company acquired Gecko's 95% interest in a portfolio of exploration properties in Namibia consisting of 14 exploration prospecting licences, one mineral deposit retention licence and Gecko's rights under an option agreement to acquire a 60% interest in a further exploration prospecting licence. Prior to these transactions, Gecko held no common shares of the Company. Following these transactions, Gecko has ownership of 69,500,000 common shares of the Company, representing approximately 43.79% of the Company's outstanding 158,703,500 common shares.\n\nGecko acquired the common shares for investment purposes. Consistent with such purpose, Gecko expects that it will, from time to time, review its investment position in the Company and may, depending on market and other conditions, increase or decrease its investment position in the common shares or other securities of the Company.\n\nWhether Gecko acquires any additional common shares or other securities of the Company or disposes of any common shares or other securities of the Company, as well as the number and timing of any such transactions, will depend upon its continuing asse...