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Canada Rare Earth Obtains Rights to Acquire a Permitted Rare Earth Refinery

RareX own more than 24 million shares in CREC.

For more than ten years Canada Rare Earth Corp. has been working with the Government of the Lao People's Democratic Republic (aka Lao PDR or Laos) to permit and operationalize a fully constructed Rare Earth Refinery, located outside Vientiane, the capital of Laos. Canada Rare Earth is very pleased to report that the Refinery has recently been issued all required operating permits and that it has obtained the rights to acquire 70% of the Refinery. 

In recent years, the mining industry in Laos has developed a number of new rare earth mining operations, which now produce substantial amounts of rare earth (RE) concentrates from ion adsorption clay (IAC) mineral deposits. Canada Rare Earth and the Lao Government believe it will be of great benefit to Lao PDR, its people, and its economy to process some of these RE concentrates in-country, allowing for the export of higher value products. 


While the Refinery is expected to produce and sell more than a dozen RE Oxides, the key drivers of the Refinery's revenue are expected to be the sales of Oxides of Neodymium, Praseodymium, Dysprosium and Terbium. 

Separated and refined rare earth elements are critical components in the manufacturing of many important products including smartphones, EVs, UAV/drones, robots, wind turbines in addition to many military applications and select health technologies, due to their unique magnetic, optical, and conductive properties. 

Please see the linked press release regarding Canada Rare Earth's agreement to acquire the Laos Rare Earth
Refinery. CREC will be releasing more information in due course. Their stock will be halted pending Exchange approvals.

Canada Rare Earth thank all shareholders and stakeholders for their incredible patience and believe this is a transformational transaction for the Company.

RareX investment, CREC, secures 70% of rare earth refinery in Laos