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u.s. rare earths inc (UREE) Snapshot

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12/6/13 - $3.20
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u.s. rare earths inc (UREE) Details

U.S. Rare Earths, Inc. operates as a mineral exploration, mining, and claims acquisition company. It holds approximately 1,300 mining claims for rare earth elements located on approximately 25,000 acres of land in Colorado, Idaho, and Montana. The company’s claims in Colorado include the Powderhorn property in Gunnison County, and the Wet Mountain property in Fremont and Custer counties. Its additional claims comprise the Lemhi Pass property in Lemhi County, Idaho and Beaverhead County, Montana; Diamond Creek and North Fork properties in Lemhi County, Idaho; and the Last Chance property in Lemhi region of Montana and the Sheep Creek properties in Ravalli County, Montana. The rare earth elements are used in various applications, including clean-energy technologies, such as hybrid cars and electric vehicles; high-technology applications, including cell phones and digital music players; hard disk drives used in computers; microphones; fiber optics; lasers; and defense applications comprising global positioning systems, radar, and sonar, as well as water treatment applications for industrial, military, homeland security, domestic, and foreign aid use. The company was formerly known as Colorado Rare Earths, Inc. and changed its name to U.S. Rare Earths, Inc. in October 2011. U.S. Rare Earths, Inc. is based in Plano, Texas.

3 Employees
Last Reported Date: 07/18/14

u.s. rare earths inc (UREE) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

u.s. rare earths inc (UREE) Key Developments

U.S. Rare Earths Mulls Acquisitions

U.S. Rare Earths, Inc. (OTCPK:UREE) is looking for acquisitions and will use the proceeds of its follow on offering for general corporate purposes, including working capital, as well as for reimbursement of certain costs in the amount of $0.29 million in connection with certain contingent agreements reached in a Settlement Agreement and to acquire or invest in complementary businesses, products and technologies.

U.S. Rare Earths, Inc. Announces Executive Changes

On April 30, 2014, the board of directors of U.S. Rare Earths, Inc. appointed F. Scott Chrimes to serve as the Chief Financial Officer and Secretary of the Company, effective immediately. Mr. Chrimes, age 60, has served as Vice President, Chief Financial Officer and Secretary/Treasurer of Lattimore Properties, Inc. since 1996. In addition, since February 2014, Mr. Chrimes serves as a director of and is Chief Financial Officer and Secretary of BioChemics, Inc. On April 30, 2014, the board of directors of the company removed Mr. Mark E. Scott as Chief Financial Officer and Secretary of the Company, effective immediately. There were no disagreements between Mr. Scott and the company or any officer or director of the company in connection with Mr. Scott's removal.

U.S. Rare Earths, Inc. announced delayed annual 10-K filing

On 03/31/2014, U.S. Rare Earths, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.


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