Texas Rare Earth Resources to Begin Trading on OTCQX, the Top Tier of the OTC Market, on February 13, 2012
Texas Rare Earth Resources Corp. (the 'Company?) (OTCQX: TRER), a heavy
rare earths exploration and development company, today announced that
its common stock will transition from the OTCQB platform and will begin
trading on the quality-controlled OTCQX ? U.S. Premier trading
platform effective Monday, February 13, 2012.
The OTCQX U.S. Premier tier distinguishes the highest quality-controlled
companies traded over-the-counter (OTC) from more than 9,000 securities
traded on the OTCBB and OTC Link platform that are not required to meet
any financial standards or undergo a qualitative review, attesting to
the quality standards adhered to by Texas Rare Earth Resources. OTCQX
also offers a level of marketplace services formerly available only on a
U.S. exchange. This investor-friendly platform provides superior trading
information and easy access through all major online and full-service
U.S. brokerage firms. Trades are settled and cleared in the U.S. similar
to any NASDAQ or NYSE stock, and trade reports are disseminated through
most financial data providers.
Investors can find current financial disclosure and Real-Time Level 2
quotes for the Company on www.otcmarkets.com.
Dorsey & Whitney LLP will serve as Texas Rare Earth's Designated Advisor
for Disclosure ('DAD') on the OTCQX.
'We are pleased to have Texas Rare Earth Resources upgrade to trading on
OTCQX,' said R. Cromwell Coulson, President and Chief Executive Officer
of OTC Markets Group. 'OTCQX companies demonstrate their commitment to
providing superior information to investors and maintaining the highest
quality standards. Investors prefer the quality-controlled admission
process on OTCQX, which identifies the segment of OTC companies focused
on valuation and transparency.'
Marc LeVier, Chief Executive Officer of Texas Rare Earth Resources,
commented, 'The upgrade of our primary trading venue to the OTCQX U.S.
Premier trading platform is a testament to investors that Texas Rare
Earth Resources meets the highest qualitative standards among OTC traded
companies.? Mr. LeVier added, 'We have made considerable progress in
creating a viable exploration and development company focused on
advancing the exploration and resource definition efforts at our unique,
heavy rare earth Round Top Project. In 2011, we significantly
strengthened the Company′s management and governance, including the
appointment of three new directors, my appointment as CEO, and the
addition of Anthony Garcia as Senior Vice President of Project
Development and Engineering. We believe that our transition to the OTCQX
U.S. Premier is the next step toward further increasing investor
awareness through the platform's increased trading transparency and more
prominent access through U.S. broker-dealers.'
About OTC Markets Group Inc.
OTC
Markets Group Inc. (OTCQX: OTCM) operates the world's largest OTC
marketplace for equity securities. Our OTC Link trading system
delivers ?price transparency in over 10,000 securities and enables direct
interaction between broker-dealers that provide liquidity and execution
services. We organize the marketplace by categorizing the wide spectrum
of OTC-traded companies into three tiers: ?OTCQX - The Intelligent
Marketplace for the Best OTC Companies; OTCQB - The Venture
Marketplace; ?and OTC Pink - The Open Marketplace. Our information-driven
platform makes it easy for investors to trade at the best price through
the broker of their choice and empowers companies to build the best
markets for their investors. To learn more about our Open, Transparent,
and Connected marketplace, visit ?www.otcmarkets.com.
About Texas Rare Earth Resources Corp.
Texas Rare Earth Resources Corp.'s primary focus is exploring and
developing its Round Top rare earth minerals project. The Round Top
project is located in Hudspeth County, Texas, 85 miles east of El Paso,
Texas. Independently published data indicates the property may contain
over 1.0 billion metric tons of Rhyolite host rock containing rare earth
minerals with potentially a 70% ratio of heavy to total rare earth
minerals. The Company′s common stock now trades on the OTCQX U.S.
Premier tier under the symbol 'TRER.?
For more information on Texas Rare Earth Resources Corp., visit
its website at http://www.texasrareearth.com.
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission ('SEC?) limits
disclosure for U.S. reporting purposes to mineral deposits that a
company can economically and legally extract or produce. This press
release uses the term 'resource.? We advise U.S. investors that while
this term is defined in accordance with NI 43-101 and the Canadian
Institute of Mining, Metallurgy and Petroleum ('CIM?) - CIM
Definition Standards on Mineral Resources and Mineral Reserves,
adopted by the CIM Council, as amended (the 'CIM Standards?), such term
is not recognized by the SEC and is normally not permitted to be used in
reports and registration statements filed with the SEC. U.S. Investors
are cautioned not to assume that any defined resource would ever be
converted into SEC compliant reserves. Our Round Top rare
earth-beryllium-uranium project currently does not contain any known
proven or probable ore reserves under SEC reporting standards and our
reference above to the metric tons of rhyolite contained at the project
is a reference only to estimated in-place tonnage. U.S. investors are
urged to consider closely the disclosure in our latest reports and
registration statements filed with the SEC. You can review and obtain
copies of these filings at http://www.sec.gov/edgar.shtml.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the U.S. Securities Act of 1933, as amended, and U.S.
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that Texas Rare Earth
Resources expects or anticipates will or may occur in the future,
including such things as the potential development of the Round Top rare
earth project, estimates of mineralized material, the potential ratio of
heavy to total rare earth minerals present at the Round Top project, the
number of metric tons of rhyolite contained at the Round Top project,
possible listing on a national securities exchange, and other such
similar matters are forward-looking statements. When used in this press
release, the words 'potential?, 'indicate?, 'expect?, 'intend?, 'hopes,?
'believe,? 'may,? 'will,? 'if, 'anticipate? and similar expressions are
intended to identify forward-looking statements. These statements
involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of Texas Rare
Earth Resources to be materially different from any future results,
performance or achievements expressed or implied by such statements.
Such factors include, among others, uncertainty of mineralized material
estimates, risks relating to completing drilling and metallurgical
testing at the Round Top project, risks related to project development
determinations, risks related to fluctuations in the price of rare earth
minerals, the inherently hazardous nature of mining-related activities,
potential effects on Texas Rare Earth Resource′s operations of
environmental regulations, risks due to legal proceedings, risks related
to uncertainty of being able to raise capital on favorable terms or at
all, as well as those factors discussed under the heading 'Risk Factors?
in Texas Rare Earth Resource′s latest annual report on Form 10-K as
filed on November 22, 2011 and other documents filed with the U.S.
Securities and Exchange Commission. Although Texas Rare Earth Resources
has attempted to identify important factors that could cause actual
results to differ materially from those described in forward-looking
statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. Except as required by law, Texas
Rare Earth Resources assumes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Texas Rare Earth Resources Corp.
Nadine Wakely, 303-597-8737
Director,
Investor Relations
nwakely@trer.com
