30th Sep 2014 14:01
LONDON (Alliance News) - Rare Earth Minerals PLC Tuesday said Western Lithium USA Corp has signed a distribution deal via a subsidiary.
Hectatone Inc, a wholly-owned subsidiary of Western Lithium, in which Rare Earth owns a 3% stake, has signed a distribution deal with Houston, Texas-based Raw Materials Corp to sell its Hectatone products in five US states.
"Rare Earth is pleased with its investment in Western Lithium and the significant progress that Western Lithium has made over the past few months," said David Lenigas, chairman of Rare Earth.
Rare Earth shares were up 4.7% to 1.44 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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