On February 8, 2013, Rare Earth Metals Inc. changed its name to Canada Rare Earth Corp. (“Canada Rare Earth” or “CREC”). The Company is well-funded and is presently developing a vertically integrated business within the global rare earth industry with the objective of establishing refineries and entering into long-term sales contracts with leading international manufacturing businesses. The Company also has several rare earth properties including three advanced projects in Ontario, Newfoundland and Labrador, exhibiting multi element potential and proximity to available infrastructure.
The corporate strategy has evolved from an initial focus on rare earth elements exploration by way of discovery and deposit development, to a focus on developing a vertically integrated supply chain. This supply chain will connect exploration to mining/concentration to separation/refining to major international customers of the individual rare earths. The Company plans to do this by identifying potential rare earths sources that can provide lucrative long term supply, developing full capability rare earth separation facilities in multiple geographic locations, and enhancing relationships with a number of top tier major international companies which depend on rare earths for their market leading products.
Canada Rare Earth has a strategic advisory agreement with CEC Rare Earth Corp. (“REC”) to assist the Company in developing this vertically integrated business within the global rare earth industry. The relationship with REC provides the Company with access to REC’s experienced personnel as well as its business model which includes designing, building and establishment of operations for rare earth refineries, outside of China, with the capability of separating the full spectrum, light and heavy rare earths, as well as the ongoing sales and marketing of refined rare earths. Additional information concerning Canada Rare Earth Corporation is contained in documents filed with securities regulators, available under the company’s profile at SEDAR.