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Frontier Rare Earths closes US$60 million initial public offering

Fasken
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CIBC

On November 17, 2010, Frontier Rare Earths Limited (TSX:FRO)(TSX:FRO.WT) announced the completion of its initial public offering of 17,650,000 units of Frontier for aggregate gross proceeds to Frontier of $60,010,000. The offering was sold through a syndicate of underwriters led by CIBC World Markets Inc. and including Canaccord Genuity Corp., Cormark Securities Inc., Byron Securities Limited and National Bank Financial Inc. Each unit consists of one ordinary share and one-half of an ordinary share purchase warrant of Frontier, with each whole warrant entitling the holder thereof to purchase one additional ordinary share of Frontier at an exercise price of $4.60 per share at any time until November 17, 2012. Frontier's ordinary shares and the warrants comprising the units commenced trading the same day on the Toronto Stock Exchange under the symbols "FRO" and "FRO.WT", respectively. The underwriters were advised in this transaction by Fasken Martineau with a team led by Rob Mason and that included Amanda Fullerton and Michael Shour (securities) and Mitchell Thaw (tax).

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