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Namibia Rare Earths Inc. Agrees to Acquire Portfolio of Critical Metal Properties in Namibia
Namibia Rare Earths Inc. Agrees to Acquire Portfolio of Critical Metal Properties in Namib...
About this update from Namibia Critical Metals Inc.
[{"type":"text","content":"\n\n\n\nNamibia Rare Earths Inc. Agrees to Acquire Portfolio of Critical Metal Properties in Namibia\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.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nHALIFAX, Nov. 10, 2017\n\n\n\nAnnounces $500,000 Private Placement\n\n\nAgreement with Gecko Namibia (Pty) Ltd (\"Gecko Namibia\") to acquire a majority interest in seven projects ranging from exploration opportunities to near term feasibility stage\nDiversifies Namibia Rare Earths Inc.'s single commodity focus from heavy rare earths on the Lofdal project into a broader portfolio of critical metals and minerals crucial for electric vehicle industry including cobalt, lithium, graphite, tantalum, niobium, and gold\nInitial focus will be on cobalt project following discovery of stratabound cobalt-copper mineralization on neighboring license in northern Namibia\nStrategic partnership formed with mineral development and mining group, Gecko Namibia, strengthens operational capacities for mineral processing and mine development\nPine van Wyk (NHD Met. Eng. B.Com, MBA), Managing Director of Gecko Namibia, will be appointed CEO of Namibia Rare Earths Inc.\nGecko Namibia and Gerald McConnell, Chair of the Board of Namibia Rare Earths Inc, to complete CDN$500,000 private placement\n\n\nHALIFAX, Nov. 10, 2017 /CNW/ - Namibia Rare Earths Inc. (\"Namibia Rare Earths\" or the \"Company\") (TSXV: NRE) today announced it has entered into an agreement (\"Agreement\") to acquire a portfolio of critical metal properties (the \"Properties\") from Gecko Namibia (Pty) Ltd. (\"Gecko Namibia\") in consideration for the issuance of 64,000,000 common shares of Namibia Rare Earths (\"Property Acquisition\").\n\nIn conjunction with the acquisition, Gecko Namibia and Gerald J. McConnell, Chair of the Board of Namibia Rare Earths, have each agreed to complete a private placement with the Company in the amount of $250,000 at $0.05 per share for total gross proceeds to the Company of $500,000 (\"Private Placement\"). A total of 10,000,000 common shares of Namibia Rare Earths ...