U.S. Rare Earths raises $225,000 through private placement of stock

Chairman of the board Lattimore buys common shares at $0.11 per share

By Devika Patel

Knoxville, Tenn., Aug. 31 - U.S. Rare Earths, Inc. completed a $225,000 private placement of stock with chairman of the board of directors John Victor Lattimore, Jr. on Aug. 27, according to an 8-K filed Friday with the Securities and Exchange Commission.

The company sold 2,045,454 common shares at $0.11 per share. The price per share is a 78.43% discount to the Aug. 24 closing share price of $0.51.

The rare earths mining company is based in Lonoke, Ark.

Issuer:	U.S. Rare Earths, Inc.
Issue:	Common shares
Amount:	$225,000
Shares:	2,045,454
Price:	$0.11
Warrants:	No
Investor:	John Victor Lattimore, Jr.
Settlement date:	Aug. 27
Stock symbol:	OTCBB: UREE
Stock price:	$0.51 at close Aug. 24
Market capitalization:	$12 million

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