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RARE EARTH METALS CORP. ANNOUNCES FINANCING
10/30/06
Vancouver, British Columbia, Canada. October 30, 2006. Rare Earth Metals Corp
(REM - TSX -V) (the “Company”) is pleased to announce, on a non-brokered basis,
its plan to raise up to $500,000 through the issuance of 5,000,000 units at a
price of $0.10 per unit, each unit consisting of one common share and one share
purchase warrant. Each warrant entitles the holder thereof to purchase one
common share of the Company at a price of $0.15 for a period of one year from
closing. A finder’s fee of up to 8%, payable in cash and/or shares may be paid
in conjunction with all or parts of the financing.
Proceeds from this financing will be used for exploration activities on the
Company’s Manitoba VMS (copper zinc) properties in the Flin Flon-Snow Lake VMS
belt and for general working capital purposes. The financing is subject to
acceptance by the TSX Venture Exchange.
For more information call (604)986-2020 or toll free 1-866-816-0118, or visit
www.rareearthmetals.net
On Behalf of the Board of Directors,
Rare Earth Metals Corp.
CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this news release.
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