Welcome!

News Feed Item

Texas Rare Earth Resources Announces Filing of Registration Statement for Planned Rights Offering

Management and Board Members to Host Live Roadshow Presentation on September 15th

SIERRA BLANCA, TX -- (Marketwired) -- 08/29/14 -- Texas Rare Earth Resources Corp. (OTCQX: TRER), an exploration company specializing in the heavy rare earths, announced today that it has filed a registration statement with the Securities and Exchange Commission (the "SEC") with respect to a proposed rights offering of non-transferable subscription rights at a subscription price to be determined to subscribe for shares of common stock along with Class A Warrants and Class B Warrants, in the form of a Unit. The Company currently anticipates that the rights offering will be for up to approximately $1.6 million in gross aggregate proceeds. The number of Units offered and the number of subscription rights that will be distributed per share of common stock held on the record date will be determined by the Company's board of directors at the time of pricing the subscription rights, which the Company currently anticipates will take place in the next month, following the initial review of the registration statement by the SEC.

The Company plans to distribute to its common stockholders, as of a record date yet to be determined, non-transferable rights to subscribe for and purchase Units, with each Unit to consist of one share of the Company's common stock, one five year non-transferable Class A warrant exercisable for one share of the Company's common stock at $0.50 per share and one five year non-transferable Class B warrant exercisable for one share of the Company's common stock at $0.75 per share. In addition to being able to purchase their pro rata portion of the Units offered based on their ownership as of the record date for the rights offering, stockholders may oversubscribe for additional Units on an unlimited basis, subject to availability and proportional allocation of Units among holders exercising this over-subscription right. The Company anticipates that the record date and the final subscription price will be determined just prior to the time that the SEC declares the Company's registration statement effective.

Proceeds of the rights offering will be used to fund the first stage of the Company's advanced metallurgical activities at its Round Top project and to fund working capital and other general corporate purposes. The first stage of the Company's advanced metallurgical activities is referred to as the purification step and will be implemented in two parts: 1) bench scale evaluation of an ion exchange process and 2) bench scale evaluation of a solvent extraction process tailored to the deposit's mineralogy. Test work to date shows that the Round Top pregnant leach solution ("PLS") obtained by extracting the elements in the deposit's rare earth bearing minerals will present as a dilute sulfuric acid solution containing the REE's and several other potentially economic by-product elements such as beryllium, lithium, potassium and uranium. This solution will also contain relatively high concentrations of aluminum, calcium, fluorine, iron and sodium. The objective of this stage of the metallurgical work is to establish the most efficient way to process the REE from the PLS to a more concentrated solution that will then become the feedstock for the element separation plant. The Company believes that accomplishing this step of directly transferring the REE from the PLS by either method, without prior treatment or conditioning, will have the potential to both improve recoveries and to materially lower the capital and operating costs of the Round Top Project as presented in the December 2013 PEA. Once the purification step has been designed, the elemental separation process, mine and heap leach design and other feasibility related tasks are relatively straightforward.

Management and certain members of the board plan to host a live roadshow presentation and company update on September 15, 2014 in El Paso, Texas. Details will be forthcoming. The presentation will be webcast in real time for those not able to attend in person but will not be otherwise available after the live presentation. Participants will be given the opportunity to ask questions.

Rights offering materials, including a prospectus and other items necessary to exercise the rights, will be mailed to stockholders following the SEC declaring the registration statement effective. The prospectus will contain important information about the rights offering and the terms of the Units, and stockholders are urged to read the prospectus carefully when available.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The offering will be made only by means of a prospectus which is a part of the registration statement. A copy of the preliminary prospectus contained in the registration statement may be obtained from the Company by contacting Anthony Marchese at 539 El Paso Street, Sierra Blanca, TX 79851, by calling 908-451-4234 or by email at [email protected].

About Texas Rare Earth Resources Corp.
Texas Rare Earth Resources Corp.'s primary focus is exploring and, if warranted, developing its Round Top rare earth minerals project located in Hudspeth County, Texas, 85 miles east of El Paso. The Company's common stock trades on the OTCQX U.S. tier under the symbol "TRER."

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding the proposed rights offering, including the anticipated gross aggregate proceeds, the nature and terms of the securities being offered, the anticipated date for pricing of the subscription rights, the future effectiveness of the registration statement relating to the offering, the anticipated use of proceeds for the rights offering, the time and place for the anticipated road show presentation, that development of an effective process to purify and concentrate PLS is a definitive step towards assuring the viability of the Round Top Project, the potential development of the Round Top project, and other such similar statements. When used in this press release, the words "potential," "indicate," "expect," "intend," "hopes," "believe," "may," "will," "if, "anticipate," and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, the possibility that the effectiveness of the registration statement may be delayed or not occur, that the Company may choose to postpone, modify, delay or not launch the rights offering, that the nature of the securities offered in the rights offering may be changed by the Company, that the rights offering may be cancelled before it closes, that the Company may not receive sufficient funds from the rights offering to complete the anticipated use of proceeds, the conditions may change at the Round Top project, in the rare earth's industry or in the Company's business plan that necessitates a different use of proceeds, uncertainty of mineralized material and mineral resource estimates, risks to projected and estimated economics not reflecting actual economic results due to the uncertainty of mining processes, potential non-uniform sections of mineralized material, potential mining hazards and accidents, changes in equipment and labor costs, changes in projected REE prices and demand, competition in the REE industry, risks related to project development determinations, the inherently hazardous nature of mining-related activities, potential effects on the Company's operations of environmental regulations, risks due to legal proceedings, liquidity risks and risks related to uncertainty of being able to raise capital on favorable terms or at all, as well as those factors discussed under the heading "Risk Factors" in the Company's latest annual report on Form 10-K as filed on November 26, 2013 and other documents filed with the U.S. Securities and Exchange Commission. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements.

Company Contact:
Texas Rare Earth Resources Corp.
Anthony Marchese
Chairman
E-mail: Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"We are a monitoring company. We work with Salesforce, BBC, and quite a few other big logos. We basically provide monitoring for them, structure for their cloud services and we fit into the DevOps world" explained David Gildeh, Co-founder and CEO of Outlyer, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ara...
SYS-CON Events announced today that Silicon India has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Published in Silicon Valley, Silicon India magazine is the premiere platform for CIOs to discuss their innovative enterprise solutions and allows IT vendors to learn about new solutions that can help grow their business.
Join us at Cloud Expo June 6-8 to find out how to securely connect your cloud app to any cloud or on-premises data source – without complex firewall changes. More users are demanding access to on-premises data from their cloud applications. It’s no longer a “nice-to-have” but an important differentiator that drives competitive advantages. It’s the new “must have” in the hybrid era. Users want capabilities that give them a unified view of the data to get closer to customers and grow business. The...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assista...
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
"Loom is applying artificial intelligence and machine learning into the entire log analysis process, from start to finish and at the end you will get a human touch,” explained Sabo Taylor Diab, Vice President, Marketing at Loom Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
@DevOpsSummit at Cloud Expo taking place Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center, Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is ...
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists loo...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
"MobiDev is a Ukraine-based software development company. We do mobile development, and we're specialists in that. But we do full stack software development for entrepreneurs, for emerging companies, and for enterprise ventures," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, highlighted the current challenges of these transformative technologies and shared strategies for preparing your organization for these changes. This “view from the top” outlined the latest trends and developments i...
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, paneli...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.