Colorado Rare Earths Inc Enters into Agreement to Acquire U.S. Rare Earths, Inc.

Colorado Rare Earths, Inc.announced that it has entered into an agreement to acquire U.S. Rare Earths, Inc. (USRE), a Salt Lake City, UT-based, privately-held rare earths exploration company. The agreement is subject to completion of due diligence and certain other usual conditions and Company officials expect the transaction to close within ten days. Terms of the agreement were not disclosed. As part of the agreement and upon filing the necessary documents, Colorado Rare Earths, Inc. will change its name to U.S. Rare Earths, Inc.