19
Feb
17:00
RARE EARTH: RareX buys 12.3% stake in Canada Rare Earth Corp
Australia-based RareX is acquiring a 12.3% stake in Canada Rare Earth Corp, Kallanish reports.
RareX has exercised its option to acquire 24.8 million shares from the Talaxis Group Holdings at a price of AUS 0.04/share ($0.03/share). That stake is valued at CAD 4.46m, based on an initial investment of just under CAD 1m.
Canada Rare Earth is headquartered in Vancouver, British Columbia.
RareX had announced its option plan last December and its stock had risen to …
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