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Namibia Rare Earths Inc. Provides Update on Agreement and Private Placement
Namibia Rare Earths Inc. Provides Update on Agreement and Private Placement Canada...
About this update from Namibia Critical Metals Inc.
[{"type":"text","content":"\n\n\n\nNamibia Rare Earths Inc. Provides Update on Agreement and Private Placement\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\n\n\n\n\n\n\nCanada NewsWire\nHALIFAX, Feb. 12, 2018\n\n\n\n\nCompany anticipates closing of transaction with Gecko Namibia (Pty) Ltd (\"Gecko Namibia\") within two weeks\nAgreement with Gecko Namibia to acquire a majority interest in seven projects \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\nGecko Namibia and Gerald McConnell, Chair of the Board of Namibia Rare Earths Inc., to complete CDN$550,000 private placement concurrent with closing\n\n\nHALIFAX, Feb. 12, 2018 /CNW/ - Namibia Rare Earths Inc. (\"Namibia Rare Earths\" or the \"Company\") (TSXV: NRE) announced today that it expects to close the previously announced (November 10, 2017) transaction 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\") within the next two weeks. The previously announced $550,000 private placement (\"Private Placement\") will be completed at the same time as the Property Acquisition closing. Exchange conditional approval of the Property Acquisition and the Private Placement has been received and the single outstanding matter is the completion of one background search by the TSXV on a representative of Gecko who will become an insider of Namibia Rare Earths. \n\nIn accordance with the policies of the Exchange, the shares of Namibia Rare Earths remain halted from trading until the TSXV had received and reviewed acceptable documentation regarding the Property Acquisition. The TSXV had advised that the shares of the Company will recommence trading on closing of the Property Acquisition and the Private Placement. \n\nPursuant to the policies of the TSX Venture Exchange...