Rare Earth Element Corp entered into a definitive agreement to acquire KR Investment Ltd. (TSXV:KR.H) for CAD 9.2 million in a reverse merger transaction on March 20, 2024. Pursuant to the Securities Exchange Agreement, the Company has agreed to issue 18,550,500 Common Shares to the shareholders of REEC on the closing of the RTO. In addition, the 18,400,000 outstanding warrants of REEC, which are exercisable at CAD 0.10 until March 7, 2026, will be adjusted in accordance with their contractual terms upon the closing of the RTO, with each such REEC Warrant becoming exercisable for one Common Share at the same exercise price. As part of the closing of the RTO, the Company anticipates changing its name from ?KR Investment Ltd.? to ?Global Uranium Corp.? Closing of the RTO is subject to the satisfaction of customary closing conditions, including CSE and TSXV acceptance, as well as applicable director and shareholder approvals, including the approval of the shareholders of the Company. As of May 3, 2024, the transaction was approved by the target's shareholders. Aman Parmar of Cozen O'Connor LLP acted as legal advisor to KR Investment.

Rare Earth Element Corp completed the acquisition of KR Investment Ltd. (TSXV:KR.H) in a reverse merger transaction on May 6, 2024.