Trading Symbol: RTX - (TSX.V)
VANCOUVER, March 12, 2013 /CNW/ - Rara Terra Minerals Corp. ("Rara Terra" or the "Company") is pleased to announce that it has closed the non-brokered private placement announced on Jan 10th 2013. A total of 5,115,000 shares were issued at a price of $0.15 per share for total proceeds of $767,250. No finder's fees were paid in connection with this private placement.
All securities issued under this private placement are subject to a four month hold period and will not be tradeable until July 6, 2013. Proceeds from this private placement will be used for working capital.
About Rara Terra Minerals Corp.
Rara Terra is a Canadian mineral exploration and development company focussed on Rare Earth Elements (REEs). Rara Terra is seeking to identify and develop REE deposits characterized by less common mineralization. These unique deposits will bear those specific REEs that are widely agreed to have the strongest mid to long term technological relevance and sustainable economic value.
Due to significant challenges in the REE arena, Rara Terra has been assessing other opportunities to create shareholder value. With that said, Rara Terra remains optimistic that REE deposits with high grades of heavy rare earths or unusual distributions of rare earth will have continued value for the foreseeable future.
ON BEHALF OF THE BOARD
RARA TERRA MINERALS CORP.
Per: "Alexander Helmel"
Neither the 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 news release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Rara Terra Minerals Corp. Forward-looking statements consist of statements that are not purely historical, including but not limited to, any statements regarding beliefs, plans, expectations concerning timing and success of exploration activities generally, government regulation of exploration and mining operations, indications and benefits of exploration, drilling test work and engineering assessments, environmental risks, title disputes or claims, the Company's intention to raise additional capital and financing, and expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
SOURCE: Rara Terra Minerals Corp.
For further information:
Rara Terra Minerals Corp.
Phone: (604) 562-6915