Rare Element finalizes $21.9M DoE award for rare earth plant; launches ~$25M rights offering

RARE ELEMENT RESOURCES LTD

Finalized $21.9M DoE/EERE award for rare earth separation demo plant in Upton, Wyoming.
Rights offering of common shares at $0.24 each to raise ~$25M gross proceeds.
Record date for rights is Oct 19, 2021; basic subscription + oversubscription privilege offered.
Proceeds will fund permitting, engineering, construction, and operation of the demo plant.
Plant expected to take 18–26 months to design/construct; operations 12–14 months thereafter.

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