Canada Rare Earths Arranges $600,000 Non-Brokered Private Placement

2012-03-05

TSXV - TSX Venture Exchange · Gold · Silver · Canada

(via Thenewswire.ca)

Vancouver, British Columbia - March 5th, 2012 - Canada Rare Earths Inc. ("Canada Rare Earths" or the "Company") (TSX.V: CJC; FSE: YXEN; OTC-BB: CJCFF) announces that it has arranged a non-brokered private placement offering (the "Offering") of up to 6,000,000 units (the "Units") of the Company priced at $0.10 per Unit, for gross proceeds of $600,000, subject to TSX Venture Exchange approval. Each Unit will consist of one share and one share purchase warrant exercisable at a price of $0.20 for a period of 2 years from the date of closing.

Proceeds from the Offering will be used to advance the Company's graphite projects previously announced on February 27, 2012, and for general working capital.

Finder's fees may be payable in connection with this Offering.

For more information on Canada Rare Earths Inc., please visit www.canadarareearths.com or call 604.685.5851.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

On Behalf of the Board,

"Chad McMillan"

President & CEO

Canada Rare Earths Arranges $600,000 Non-Brokered Private Placement

Earlier from Golconda Gold Ltd.