HALIFAX, Dec. 15, 2015 /CNW/ - Namibia Rare Earths Inc. ("Namibia Rare Earths" or the "Company") (TSX: NRE) announced today that its Chief Executive Officer, Gerald J. McConnell, had acquired an additional 6,934,000 shares (9%) of the Company pursuant to a private share purchase agreement. Mr. McConnell now holds 9,044,000 shares representing 11.6% of the outstanding shares making him the second largest shareholder in the Company.
About Namibia Rare Earths Inc.
Namibia Rare Earths Inc. is focused on the accelerated development of the Lofdal Rare Earths Project. The common shares of Namibia Rare Earths Inc. trade on the Toronto Stock Exchange under the symbol "NRE".
No regulatory authority had approved or disapproved the adequacy or accuracy of this release. The foregoing information may contain forward-looking information relating to the future performance of Namibia Rare Earths Inc. Forward-looking information, specifically, that concerning future performance, is subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions.
SOURCE Namibia Rare Earths Inc.
For further information: Don Burton, President, Tel: +01 (902) 835-8760, Fax: +01 (902) 835-8761, Email: [email protected], Web site: www.NamibiaRareEarths.com