NEW YORK, July 9, 2013 /PRNewswire/ -- U.S. Rare Earths, Inc., "UREE", (OTCBB: UREE), a rare earths exploration company with mining claims in Idaho, Montana, and Colorado, announced today a change in its corporate headquarters.
Effective immediately, U.S. Rare Earths, Inc., a Nevada corporation will headquarter its operations in Plano, Texas.
The Company will maintain its operating office in New York City.
The change will benefit UREE through the continued involvement of its Chairman, Victor Lattimore, who manages his broader business interests from Plano Texas.
"It should be clear how important Mr. Lattimore's continued involvement will be in the growth of the Company, including his commitment to creating American jobs," said Kevin Cassidy, CEO of U.S. Rare Earths.
"Mr. Lattimore, as the President of Lattimore Materials Company, employed more than 1,600 people, operated and controlled 7 aggregate mines, 26 concrete plants, in addition to 4 rail terminals and a fleet of over 400 mixer and haul trucks. Mr. Lattimore is also past-chairman of the board of Texas Aggregate and Concrete Association, and a past member of the Governor's Advisory Committee of Rock Crushers and Quarries.
"Mr. Lattimore's accomplishments, experience and proven commercial success in building an integrated operation, allowed his company to become the premier American concrete and aggregates supplier in the southwest. His involvement will be vital in taking UREE to the next level.
"The Company will benefit enormously from Mr. Lattimore's business acumen and highly regarded personal stature. His involvement translates into an incredible asset for all of the UREE shareholders."
In addition, Mr. Lattimore is the President and Chairman of the Board for Lattimore Properties, Inc. (LPI), which holds interests in several companies engaged in numerous real estate, agricultural and investment enterprises. Mr. Lattimore was the past-president of Lattimore Materials Company from 1986 to the date it was sold in March 2011.
Mr. Lattimore has the distinction of being an honorary member of the U.S. Navy Seal Teams, and recently received the honor of being placed on the Board of Directors for the Congressional Medal of Honor Foundation. He serves on the Board of Trustees of the Lattimore Foundation and is a member of the National Center for Policy Analysis Board of Directors ("NCPA").
Mr. Lattimore plays a very active role in several charities. He has received the Excalibur Award and the Top Gun Award from the American Cancer Society. He was honored with the Bob Beard Good Neighbor Award from the Texas Aggregate and Concrete Association.
He was named Chairman of U.S. Rare Earths, Inc. in June 2011.
The change in headquarters follows recent announcements of Mark Crandall and former Governor Bob Kerrey to the Company's Board of Directors.
U.S. Rare Earths holds drill permits for six rare earth properties across three states.
The Company's properties in the Lemhi Pass region have been recognized in the U.S. Department of Energy's Critical Materials Strategy publications to have significant showings of Heavy Rare Earth Elements, in particular for the five Rare Earths identified by DOE as being at "Critical Risk": Dysprosium, Europium, Neodymium, Terbium and Yttrium.
About U.S. Rare Earths, Inc.:
U.S. Rare Earths, Inc. ("UREE", "U.S. Rare Earths" or the "Company") is a mineral exploration, mining and claims acquisition company based in Plano, TX.
The Company holds over 12,000 acres of mining claims for rare-earth elements in Colorado, Idaho and Montana.
Rare earth elements are critical to many existing and emerging 21st century 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 in addition, critical defense applications such as global positioning systems, radar and sonar; and advanced water treatment applications, including those for industrial, military, homeland security, domestic and foreign aid use.
For more information visit www.usrareearths.com.
Safe Harbor Statement. Some statements contained in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, therefore, involve uncertainties or risks that could cause actual results to differ materially. These statements may contain words such as "desires," "believes," "anticipates, " "plans," "expects," "intends," "estimates" or similar expressions. These statements are not guarantees of the Company's future performance and are subject to risks, uncertainties and other important factors that could cause its actual performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Such statements include, but are not limited to, rare-earth industry risks, estimates of mineralized materials, litigation risks, plans to raise capital, and board, management and governance risks. Additional information regarding factors that could cause results to differ materially from management's expectations is found in the Company's SEC filings. The Company intends that the forward-looking statements contained herein be subject to the above-mentioned statutory safe harbors. Investors are cautioned not to rely on forward-looking statements.
Rubenstein Public Relations
Contact: Jonathan Goldberg Tel: 212.843.9335
SOURCE U.S. Rare Earths, Inc.