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US Meetings and Corporate Update

May 26, 2023 | blog

PHOENIX, Ariz., May 26, 2023 (GLOBE NEWSWIRE) — As introduced on May 1, 2023, American Rare Earths (ASX: ARR, OTCQB: ARRNF, FSE:1BHA) (ARR or the Company) initiated a number of steps to progress the Halleck Creek asset, listing on the US markets and transfer the operations to the United States.

ARR is continuous its lively exploration program each at Halleck Creek and new prospects in Wyoming. The Company is finalizing an exploration program to improve the present JORC useful resource at Halleck Creek. The program will embrace drilling, mapping and geochemical surveys that shall be used for the Company’s financial and feasibility research at present underway. Our business evaluate of Halleck Creek and graduation of our feasibility research is a key milestone for the Company.
The Company has engaged US legal professionals, accountants and monetary teams who’re consultants in SEC laws and itemizing necessities. This physique of labor is in progress to twin listing and guarantee a clean transition to US fairness markets. BNY Mellon have additionally been engaged to ascertain American Depositary Receipts (ADR’s). In September, the Company may also full the third yr of Public Company Accounting Oversight Board (PCAOB) audits to satisfy SEC regulatory necessities.
The Company has engaged a number one mining trade headhunter primarily based out of Denver Colorado to assist determine and finally have interaction US primarily based mining administrators and officers for the corporate. The Company has recognized key roles it must proceed the event of the Halleck Creek undertaking and the transition to a US primarily based firm.
Over the previous few days, a lot of the Company’s unbiased administrators have been assembly within the US to progress and facilitate the transfer to the USA. The administrators are assembly with potential US primarily based board, operations, and technical candidates in Arizona, Colorado, and Texas. While within the USA the administrators have organized a number of conferences with monetary, exploration and operations teams who will assist facilitate the Companies transfer to the USA within the coming months.

ARR believes the steps taken to develop our US presence and recruit key personnel will assist in revaluing the Company’s standing as a profitable uncommon earth explorer within the USA, in addition to put together the Company to entry the US fairness markets and supply US buyers with an area market. Financially we’re properly funded and have greater than enough funds to finish the above actions.

The Company will stay twin listed because the Australian market and shareholders stay a core a part of the Company’s development technique. We wish to thank all our shareholders for his or her ongoing assist throughout this era of transition and we are going to proceed to replace the market as data turns into obtainable.

This market announcement has been approved for launch to the market by the Board of American Rare Earths Limited.

Creagh O’Connor, AM

Chairman

About American Rare Earths:

One of the one ASX listed corporations with publicity to the quickly increasing US market, American Rare Earths is creating its 100% owned magnet metals tasks, La Paz in Arizona, and Halleck Creek in Wyoming. Both have potential to be among the many largest, uncommon earths deposits in North America. The Company is concurrently evaluating different exploration alternatives whereas collaborating with US Government supported R&D to develop a sustainable home provide chain for the renewable future.

Head Office
Suite 706 Level 7, 89 York St.
Sydney, NSW 2000
Tel 612 8054 9779
GPO Box 1546
Sydney NSW 2001

US Mail
c/o Western Rare Earths
514 Grand Avenue #371
Laramie, WY 82070
data@americanrareearths.com.au
americanrareearths.com.au

Media Contact:
Susan Assadi
347 977 7125
sassadi@americanrareearths.com.au