Rare Earth Archives - MiningFeeds

Ucore's proposed Louisiana rare earth refining facility is located within the England Airpark & Community, a Foreign Trade Zone.
Foreign Trade Zones have the potential to mitigate the impact of proposed tariffs on the import and export of rare earth products.

Halifax, Nova Scotia–(Newsfile Corp. – December 4, 2024) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company"), noting the recent news about potentially increased tariffs, comments on the value of its new Strategic Metals Complex (SMC) in the favorable location of England Airpark Foreign Trade Zone (FTZ) for affordable supply of rare earths to U.S. consumers.

During the recent election campaign, and following the Republican victory, President-elect Trump emphasized a return to tariffs and other trade measures as a way to encourage the reshoring of American manufacturing. Key proposals include heightened tariffs on Chinese and other foreign-made goods, especially in critical materials supply chains.

The U.S. Department of Defense (DoD) and other key federal agencies have identified rare earth elements as critical to national security, powering technologies from advanced fighter jets to renewable energy systems. DoD, in particular, is required to begin sourcing rare earths from non-Chinese sources. However, over 80% of REE processing currently takes place in China, leaving the U.S. vulnerable to supply chain disruptions.

Ucore, which has located its first SMC within the England Airpark FTZ in Alexandria, Louisiana, is well-positioned to assist customers in developing secure rare earth supply chains that comply with DoD acquisition regulations and have favorable import status. FTZs are designated geographic areas where commercial merchandise, both domestic and foreign, is treated as if it were outside the U.S. commerce for Customs purposes. This structure can potentially provide tariff and tax relief, helping American businesses stay competitive on the import of foreign inputs and on exporting finished products.

Ucore encourages manufacturers seeking rare earth solutions to connect with us to determine how this uniquely advantageous import and export zone can reduce tariff costs, encourage sustainable supply chains, and support the revitalization of the domestic REE supply chain. This includes new manufacturers and technology operations, longtime rare earth magnet users, and even the most established supply chain managers in Europe, Japan and South Korea, who may all see a reduction in the cost and risk of operations.

Developing Louisiana SMC in Alexandria, Louisiana

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1119/232445_3acade1a14df7af4_001full.jpg

"Being located in Louisiana, where there is a strong Republican delegation, further highlights the advantages and opportune location to launch Ucore's REE refining and separation in the U.S.," stated Pat Ryan, CEO of Ucore. "The foreign trade zone status provided by our partner, the England Airpark & Community, is unique as it allows a competitive structure by reducing tariff burdens on the necessary foreign inputs and allowing a seamless avenue to service downstream customers with exported finished product."

# # #

About Ucore Rare Metals Inc.

Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."

For further information, please visit www.ucore.com.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements." All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. The details of the legislation by which tariffs are implemented can potentially impact the effectiveness of the protections afforded by Foreign Trade Zones. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.

Regarding any disclosure in the press release above about the US Department of Defense or the Government of Canada Programs and the expected successful progress and resulting milestone payments from these Programs, the Company has assumed that the Programs (including each of their milestones) will be completed satisfactorily. For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs (generally), see the risk disclosure in the Company's MD&A for Q3-2023 (filed on SEDAR on November 20, 2023) (www.sedarplus.ca) as well as the risks described below.

Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to complete the Demo Plant demonstration schedule and also later prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Element project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.

CONTACTS

Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.

For additional information, please contact:

Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232445

Halifax, Nova Scotia–(Newsfile Corp. – December 3, 2024) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") announces that the Company intends to extend the term of a total of 7,055,795 common share purchase warrants (the "Warrants"). The Warrants were originally issued pursuant to a non-brokered private placement of the Company, which closed on December 22, 2022. Each Warrant is exercisable at a strike price of $0.85, with an original 24-month term. The Company intends to extend the expiry date for these Warrants by 12 months, and accordingly, the new, proposed expiry date for the Warrants will be December 22, 2025.

All other terms and conditions of the Warrants will remain unchanged. The extension of the term of the Warrants is subject to the acceptance of the TSX Venture Exchange (the "TSXV").

Orca Holdings, LLC holds 1,785,000 of the Warrants and is wholly-owned by Mr. Randy Johnson, a member of Ucore's Board of Directors and an insider of Ucore. Therefore, the proposed extension of the term of the Warrants, as described in this news release, is considered to be a related party transaction within the meaning of Multilateral Instrument 61-01 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Warrant extension is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 since neither the fair market value of the amended securities, nor the consideration paid, insofar as it involves interested parties, exceeds 25% of the Company's market capitalization.

The above-described transaction was reviewed and unanimously approved by the Company's Board of Directors, with Mr. Johnson declaring his conflict and abstaining from the Board of Directors' deliberations. No special committee was created to review and approve the proposed extension to the term of the Warrants.

The Company also announces that it has entered into a marketing and consulting agreement (the "Marketing Agreement") with an arm's-length marketing firm, Outside the Box Capital Inc. ("OTBC") of Oakville, Ontario, to provide marketing consulting and investor relations services, including marketing services through social media channels and online media distribution.

In connection with the Marketing Agreement, which has commenced for an initial term of six months ending on April 28, 2025, the Company has paid OTBC a cash fee of $150,000 plus applicable taxes. The Agreement, dated October 22, 2024, can be terminated early by mutual consent of the parties. OTBC has no shares of the Company as of the date hereof and has no direct relationship with the Company other than as set out in this press release.

The Company's engagement with OTBC is another step in its efforts to enhance communication with the current investor community and expand visibility to a greater audience. OTBC specializes in leveraging various social media platforms and will be able to facilitate greater awareness and widespread dissemination of the Company's news. The engagement of OTBC, as contemplated in the Marketing Agreement and summarized above, remains subject to TSXV approval.

# # #

About Ucore Rare Metals Inc.

Ucore is focused on rare earth and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.

Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska. In the longer-term, Ucore aims to develop its 100%-controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."

For further information, please visit www.ucore.com.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements." All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.

For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs (generally), see the risk disclosure in the Company's MD&A for Q3-2024 (filed on SEDAR on November 18, 2024) (www.sedarplus.ca) as well as the risks described below.

Regarding any disclosure above about the anticipated extension relating to the Warrants and the engagement of OTBC, the Company has assumed that the extension and the engagement will be accepted by the TSXV. Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to complete the Demo Plant demonstration schedule and also later prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Element project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.

For additional information, please contact:

Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232379

Halifax, Nova Scotia–(Newsfile Corp. – November 12, 2024) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce that it is proposing to complete, and has accepted subscription agreements for, a non-brokered private placement offering of 4,803,329 units (the "Units") at a price of $0.50 per Unit for gross proceeds of $2,401,665 (the "Offering"). Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share (a "Warrant Share") for a period of 24 months following the date of closing of the Offering (the "Closing Date") at an exercise price of $0.75.

Pursuant to National Instrument 45-102 – Resale of Securities, the Common Shares and Warrants comprising the Units, including the Insider Units (as defined below), as well as any underlying Warrant Shares to be issued upon exercise of Warrants, will be subject to a four-month and one-day hold period commencing on the Closing Date. Additional hold periods and/or trading or resale restrictions may also apply in the United States.

Proceeds from the Offering are expected to be used for: (i) the finalization of upstream mixed-rare-earth feedstock agreements and also downstream customer offtake agreements for the Company's planned Strategic Metals Complex (Louisiana, USA) (the "SMC"); (ii) progressing engineering drawings and plans (currently ongoing) for the Company's planned SMC; (iii) debt servicing; and (iv) general corporate working capital purposes.

The closing of the Offering and issuance of the Units are subject to the approval of the TSX Venture Exchange (the "TSXV").

The closing of the Offering is expected to take place on or about November 14, 2024, or such other date as may be determined by the Company.

Pursuant to the Offering, certain insiders of the Company are expected to purchase a total of 2,856,330 Units (the "Insider Units") for gross proceeds to the Company of $1,428,165. As such, the Offering is considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Full details of this transaction will be disclosed on the System for Electronic Disclosure by Insiders (SEDI) at www.sedi.ca and in an early warning press release and an early warning report available on the System for Electronic Document Analysis and Retrieval+ (SEDAR+) at www.sedarplus.ca. The Company anticipates that the Offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the Offering, nor the consideration to be paid, is expected to exceed 25% of the Company's market capitalization. No new insiders and no control persons will be created in connection with the closing of the Offering.

# # #

About Ucore Rare Metals Inc.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."

For further information, please visit www.ucore.com.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements, including without limitation, statements regarding the completion of the Offering, and the anticipated timing and use of proceeds of the Offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.

For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs (generally), see the risk disclosure in the Company's MD&A for Q2-2024 (filed on SEDAR+ on August 27, 2024) (www.sedarplus.ca) as well as the risks described below.

Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future SMSs. Ucore has also assumed that sufficient external funding will be found to complete the Demo Plant demonstration schedule and also later prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Element project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of the content of this release.

CONTACTS

For additional information, please contact:

Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229691

Key Insights

Significant control over REE Automotive by individual investors implies that the general public has more power to influence management and governance-related decisions
A total of 6 investors have a majority stake in the company with 52% ownership
20% of REE Automotive is held by Institutions

Every investor in REE Automotive Ltd. (NASDAQ:REE) should be aware of the most powerful shareholder groups. And the group that holds the biggest piece of the pie are individual investors with 43% ownership. Put another way, the group faces the maximum upside potential (or downside risk).

Meanwhile, institutions make up 20% of the company’s shareholders. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders.

Let's take a closer look to see what the different types of shareholders can tell us about REE Automotive.

Check out our latest analysis for REE Automotive

ownership-breakdownWhat Does The Institutional Ownership Tell Us About REE Automotive?

Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.

As you can see, institutional investors have a fair amount of stake in REE Automotive. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see REE Automotive's historic earnings and revenue below, but keep in mind there's always more to the story.

earnings-and-revenue-growth

Hedge funds don't have many shares in REE Automotive. Samvardhana Motherson International Limited is currently the largest shareholder, with 20% of shares outstanding. For context, the second largest shareholder holds about 16% of the shares outstanding, followed by an ownership of 8.1% by the third-largest shareholder.

On further inspection, we found that more than half the company's shares are owned by the top 6 shareholders, suggesting that the interests of the larger shareholders are balanced out to an extent by the smaller ones.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.

Insider Ownership Of REE Automotive

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.

Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.

Our most recent data indicates that insiders own some shares in REE Automotive Ltd.. It has a market capitalization of just US$132m, and insiders have US$13m worth of shares, in their own names. Some would say this shows alignment of interests between shareholders and the board, though we generally prefer to see bigger insider holdings. But it might be worth checking if those insiders have been selling.

General Public Ownership

The general public, who are usually individual investors, hold a 43% stake in REE Automotive. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.

Private Company Ownership

Our data indicates that Private Companies hold 8.1%, of the company's shares. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.

Public Company Ownership

Public companies currently own 20% of REE Automotive stock. This may be a strategic interest and the two companies may have related business interests. It could be that they have de-merged. This holding is probably worth investigating further.

Next Steps:

I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Case in point: We've spotted 3 warning signs for REE Automotive you should be aware of.

Ultimately the future is most important. You can access this free report on analyst forecasts for the company.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

VANCOUVER, BC, Sept. 30, 2024 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") reports the following updated share capital and voting rights, in accordance with the Swedish Financial Instruments Trading Act:

The number of issued and outstanding shares of the Company has increased by 71,562 to 776,862,620 common shares with voting rights as of September 30, 2024. The increase in the number of issued and outstanding shares from September 1, 2024 to date is a result of the exercise of employee stock options or the vesting of employee share units.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States of America, primarily producing copper, zinc, gold and nickel.

The information in this release is subject to the disclosure requirements of Lundin Mining under the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out below on September 30, 2024 at 14:30 Pacific Time.

Lundin Mining Announces Updated Share Capital and Voting Rights (CNW Group/Lundin Mining Corporation)

SOURCE Lundin Mining Corporation

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2024/30/c1463.html

REE Automotive Ltd.

Production of P7 electric truck line-up to begin Q4 2024 at Roush’s facility in Detroit, Michigan, with annual capacity of up to 5,000 trucks.
Motherson to manage global supply chain and logistics for U.S. production as well as on-site manufacturing and quality assurance support via Motherson SAS in Detroit.
Faster production ramp up, improved unit costs, and accelerated road to free-cash flow generation are expected.
Customers have begun securing production slots.

TEL AVIV, Israel, Sept. 23, 2024 (GLOBE NEWSWIRE) — Marking a significant milestone on its path to electrifying fleet vehicles across North America, REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced that it has selected Roush Industries, a leading innovative vehicle contract manufacturer, to assemble REE’s P7 vehicles at Roush’s Detroit-area factory. REE will continue to manufacture its proprietary REEcorner® technology in its UK Coventry Integration Center. With a focus on speed to market and impeccable build quality, Roush’s assembly team unites decades of design, engineering, machining, fabrication, testing, manufacturing, and supply chain expertise to deliver a scalable process for REE. Roush will be supported onsite by a joint REE and Motherson team, who will be responsible for overall quality assurance, logistics, and testing.

Roush, as U.S. contract manufacture for the P7 lineup, will be responsible for the assembly of full vehicles according to REE’s requirements. REE’s software-defined electric trucks will be assembled at Roush’s Detroit based site specifically chosen for REE’s requirements and designed to have a yearly capacity of up to 5,000 trucks. Motherson, a leading global automotive part supplier with whom REE signed a strategic agreement, will manage global supply chain and logistics targeting cost reduction, improved unit economics and higher margines.

REE’s P7 electric commercial trucks line-up is built on top of four REEcorners® featuring REE’s disruptive x-by-wire technology. REEcorners® pack critical vehicle components into the area between the chassis and the wheel, enabling a fully flat electric chassis end-to-end with up to 35% more interior volume for passengers, cargo and batteries. Electric vehicles built on the P7 chassis have the industry’s lowest step-in height, are autonomous ready, and can be powered by either batteries or fuel cells. The P7 is well established with a network of 78 service and sales locations through 24 authorized dealers across North America with potential access to over 200 fleets in the U.S. and Canada.

“We chose to work with Roush because of their proven capabilities and expertise in the commercial EV market, their capacity to scale production, and their understanding of our unique business model, which is to build our vehicles to order, not for inventory,” said Josh Tech, Chief Operating Officer of REE. “We want to get our trucks in the hands of our customers as soon as possible, while not sacrificing on quality, making sure our customers can count on us as they build their electric commercial fleets. By partnering with Roush, we can concentrate on our core technology and production of the REEcorners while optimizing production costs and reducing go to market times benefiting from their nearly 40-year track record of engineering and manufacturing spans from NASCAR, to lunar terrain vehicles, to the most innovative EVs.”

To learn more about REE Automotive’s patented technology and unique value proposition that position the company to break new ground in e-mobility, visit www.ree.auto.

About RoushFor close to 50 years, Roush has boldly imagined and created remarkable solutions for some of the world's greatest organizations. We dream, design, engineer, test, and deliver extraordinary products for customers in the advanced mobility, aerospace, defense, and theme park industries. Roush is unique in its ability to leverage services across the complete product development cycle, solving customers' most complex challenges and accelerating critical product launch targets.

Learn more at www.roush.com.

About REE AutomotiveREE Automotive Ltd. (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE® are equipped with the revolutionary REEcorner®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a full by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low total cost of ownership (TCO), and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com

Investor ContactDana RubinsteinChief Strategy Officer for REE Automotiveinvestors@ree.auto

These forward-looking statements are based on REE’s current expectations and assumptions about future events and are based on currently available information as of the date of this communication and current expectations, forecasts, and assumptions. Although REE believes that the expectations reflected in forward-looking statements are reasonable, such statements involve an unknown number of risks, uncertainties, judgments, and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur.

Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with building out of REE’s supply chain; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to lack of compliance with Nasdaq’s minimum bid price requirement; future sales of our securities by existing material shareholders or by us could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of the COVID-19 pandemic, interest rate changes, the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate; the ongoing military conflict in Israel; fluctuations in interest rates and foreign exchange rates; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2024 and in subsequent filings with the SEC.

REE Automotive Ltd.

TEL AVIV, Israel, Sept. 18, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced it will report its second quarter 2024 financial results before the market opens on Sept. 26, 2024.

A webcast and conference call will be held on the same date at 8:30 a.m. ET to review the Company’s financial results for the three months ended June 30, 2024, discuss recent events and conduct a question-and-answer session.

Event: REE’s Second Quarter Financial Results Conference CallDate: Thursday, Sept. 26, 2024Time: 8:30 a.m. ETConference Call Dial-In: https://register.vevent.com/register/BIabb1c34cdf204c199cebc65754c659faWebcast Registration: https://edge.media-server.com/mmc/p/xqamjdtg/Add to calendar https://www.addevent.com/event/US23021184

Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com

Investor ContactDana RubinsteinChief Strategy Officer for REE Automotiveinvestors@ree.auto

REE Automotive Ltd.

REE Assembly Line in Coventry UK

Motherson will oversee supply chain management, leveraging manufacturing capabilities for components, module integration, REEcorners, and platform assembly to support full vehicle production, including U.S. assembly of P7 electric trucks.

REE Vehicle on the road

Combining Motherson’s manufacturing expertise and supply chain might with REE’s market-leading software-defined EV product line-up promises to create a dominant new force in the electrified commercial vehicle market globally, allowing REE to provide OEMs and global fleet owners an innovative product portfolio.

Motherson is a global engineering and manufacturing specialist and one of the world’s leading automotive suppliers. For FY24, it achieved gross revenue of USD 17.2 billion1. The group employs over 190,000 people in its 400 facilities spanning across 44 countries.
Combining Motherson’s manufacturing expertise and supply chain might with REE’s market-leading software-defined EV product line-up promises to create a dominant new force in the electrified commercial vehicle market globally, allowing REE to provide OEMs and global fleet owners an innovative product portfolio.
Motherson will oversee supply chain management, leveraging manufacturing capabilities for components, module integration, REEcorners, and platform assembly to support full vehicle production, including U.S. assembly of P7 electric trucks.
With this agreement, REE believes its ability to service customers at scale will materially accelerate. Given the unmet market need, significant order growth is anticipated. In addition to faster revenue, improved unit costs are anticipated, accelerating the road to meaningful free-cash flow generation.
REE priced a $45.35 million registered direct offering, led by M&G Investment, REE’s largest shareholder, who invested $20 million; Motherson, who invested $15 million in the round; and Varana Capital, one of REE’s earliest investors; who invested $5.25 million.
Motherson will nominate a member to join REE’s board of directors.

TEL-AVIV, Israel and NOIDA, India, Sept. 16, 2024 (GLOBE NEWSWIRE) — REE Automotive (NASDAQ: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, and Motherson Group (IN: MOTHERSON), an engineering and manufacturing specialist and a major supplier to the automotive industry with long standing relationships with global OEMs such as Mercedes Benz, Audi, Volkswagen, Suzuki, BMW, Porsche, GM, Ford, Stellantis, Daimler Trucks, Paccar and John Deere today announced a strategic agreement. Pursuant to the agreement, Motherson will manage sourcing and supply chain of all production parts and support the assembly of the REEcorner® and REE P7 electric trucks, the first full by-wire, software-driven certified medium duty electric truck available on the market today. Motherson will also nominate a director to join REE’s board of directors.

In addition, REE has entered into definitive agreements with certain investors, including M&G Investments, Motherson, and Varana Capital, for the purchase and sale of 11,001,941 shares of its Class A ordinary shares (or pre-funded warrants in lieu thereof) at a purchase price of $4.122 per share in a registered direct offering, for gross proceeds of $45.35 million before deducting applicable fees and expenses. REE intends to use the proceeds for general working capital. The offering is expected to close on or by September 19, 2024, subject to the satisfaction of customary closing conditions.

M&G Investments, REE’s long-term supportive shareholder, led the investment with $20 million followed by Motherson participating with a $15 million investment. Following the closing of the offering, M&G will hold approximately 16.00% of REE’s issued and outstanding Ordinary Shares; Motherson will hold approximately 19% on a non-diluted basis; and, similarly, Varana Capital 8.00%

Benefiting from the new collaboration, the buying power, manufacturing capability, and industry relationships of Motherson, REE aims to expedite production to meet growing demand and anticipated fleet orders from significant multi-national customers. REE offers the only software-driven medium duty electric truck that can meet an expected fleet transition to electric of more than 240,000 medium duty trucks in the U.S. alone and more than double across the rest of the world. By collaborating with Motherson, REE can focus on further growing its customer base, pulling forward orders, increasing gross and cash flow margins, and expanding its patent portfolio.

Laksh Vaaman Sehgal, Vice Chairman, Motherson Group, said, "We are pleased to announce our long-term agreement with REE to accelerate its industrialization within a mutually beneficial commercial framework. We have been truly impressed by REE's remarkable technology, exceptional product offerings, and robust team. We look forward to facilitating REE's growth and technological advancement by expertly managing its supply chain and utilizing our world-class engineering and manufacturing capabilities to drive commercialization and industrialization. We also want to strengthen REE's integration into the automotive ecosystem by delivering unparalleled customer support across the value chain. We believe that this strategic partnership will contribute towards Motherson’s diversification and increasing content per vehicle strategy.”

REE Co-founder and CEO, Daniel Barel, said, “We are very excited to enter into this agreement with Motherson, as I believe this agreement will enable us to leapfrog over many of the challenges others face when ramping up production. Motherson’s global footprint and manufacturing prowess combines perfectly with REE’s technology and innovation mindset. This combination will benefit our customers and investors alike, by pushing forward the transition towards electrification and carbon neutrality. We are proud to join forces with Motherson and looking forward to learning from their incredible story and amazing culture.”

M&G Investments’ Portfolio Manager, Carl Vine, said, “I believe that this is a transformational transaction for REE and we are delighted to be involved. As shareholders in both companies, we are confident that the combination of core competencies from both sides will result in a sigh of relief from global fleet owners, who have been starved of an electrified product line-up that can be produced and serviced at scale. This is a win-win all round.”

The offering is being made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-266902) previously filed with the U.S. Securities and Exchange Commission (the "SEC"). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

REE was represented on the transactions by Sullivan & Worcester LLP with respect to matters relating to U.S. law and by Herzog Fox & Neeman with respect to matters relating to Israeli law.

Motherson Group

Founded in 1975, Motherson today is a global engineering and manufacturing specialist and one of the world’s leading automotive suppliers for OEMs. For FY24, it achieved gross revenue of USD 17.2 billion1. Motherson supports its customers from more than 400 facilities across 44 countries, with a team of over 190,000 dedicated professionals. Motherson operates as a full system solutions provider and serves its customers with multiple products and services through its 12 business divisions. The product portfolio includes electrical distribution systems, fully assembled vehicle interior and exterior modules, automotive rear vision systems, moulded plastic parts and assemblies, injection moulding tools, moulded and extruded rubber components, lighting systems, electronics, precision metals and modules, Industrial IT solutions and services etc. The group has expanded its presence to support customers in new segments, including health and medical, aerospace and logistics. The diversified range of technologies and capabilities allows Motherson to support a wide spectrum of sectors, with automotive as the main industry served. Thanks to the trust of its customers, the group is ranked among the top 15 automotive suppliers worldwide and is listed among the “World’s Best Companies of 2024 by Time”. For more information please visit www.motherson.com.

1 based on an exchange rate of INR to USD 83.4534 reference exchange rate published by RBI as of June 28, 2024)

REE Contacts

Media & Analysts:Keren Shemesh Chief Marketing OfficerKerens@ree.auto

Investor relations:Dana Rubinstein Chief Strategy OfficerDanar@ree.auto

Caution About Forward-Looking Statements

This communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses the expected benefits to be realized by the collaboration with Motherson, that with the collaboration agreement with Motherson, REE believes its ability to service customers at scale will materially accelerate, that significant order growth is anticipated and that in addition to faster revenue, improved unit costs are anticipated, accelerating the road to meaningful free-cash flow generation, that Motherson intends to nominate a member to REE’s board of directors, the expected ownership of certain of REE’s shareholders following the closing of the offering, the expected timing of the closing of the offering and the expected use of proceeds. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/0909afd3-d34b-40c8-ba30-3c9bf60381dc

https://www.globenewswire.com/NewsRoom/AttachmentNg/ffc3a3aa-31bc-43d1-844d-7e9a2d757aa2

Halifax, Nova Scotia–(Newsfile Corp. – September 12, 2024) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to provide an update on its latest advancements associated with the commercialization of its RapidSX™ rare earth separation technology. In addition to demonstrating its patent-pending RapidSX™ technology platform at the Commercialization and Demonstration Facility ("CDF") in Kingston, Ontario, for the separation of heavy and light rare earth elements ("REE"), the Company is trialing a number of ancillary systems to demonstrate the entire commercial flowsheet. These systems will ultimately be incorporated into Ucore's first commercial REE separation and rare earth oxide ("REO") production facility in Alexandria, Louisiana – the Louisiana Strategic Metals Complex ("SMC").

In parallel with a dedicated technical team, the CDF operates seven days per week, serving multiple purposes, requiring dedicated shift and activity schedules, namely:

the processing of mixed rare earth oxide ("MREO") and carbonate ("MREC") feedstocks over thousands of runtime hours to further the Company's two government demonstration projects;
to develop and demonstrate an array of ancillary processing systems with the deployment of the RapidSX™ technology platform in a rigorous production environment; and
conduct product qualification work to meet prospective Western world partners' commercial interests and associated specifications.

Figure 1 – Ucore's 52-stage RapidSX™ Commercial Demo Plant in Kingston, Ontario

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1119/223106_b73bd12ed46fe952_001full.jpg

RapidSX™ Operations

The Company schedules its 52-stage RapidSX™ Demonstration Plant ("Demo Plant") to operate 120 hours per week processing tonnes of feedstock in a simulated commercial environment. The completely automated system incorporates approximately 600 feedback sensors, which include monitoring acidity levels (pH), aqueous and organic interface levels, tank levels, and system pressures and flow rates, all of which are controlled by multiple programmable logic controllers ("PLCs") and a single operator at a central control station.

Since the Demo Plant was commissioned in late 2023, through a dedicated program of continuous improvement, the Ucore team has developed significant enhancements to the mechanical and control systems that deliver and remove the organic and aqueous solutions to each RapidSX™ stage. This is an essential component of the final "copy and paste" knowledge transfer process from the CDF to the SMC to ensure a robust and proven technology platform delivering best-in-class competitive processing versus that of the People's Republic of China.

Full Scope Operations

The purpose of the CDF is the demonstration of the entire rare earth refining flowsheet, which extends well beyond the separation of REEs utilizing the RapidSX™ system. The Company has been engaged in the development and demonstration of the associated operations, including:

design and testing of an optimized Cerium depletion process;
direct leaching of heavy MREO and light MREC, eliminating the pre-leaching calcining step traditionally required in the processing of MRECs;
development of a dedicated yttrium removal process;
design and installation of a distillation system for the concentration of produced rare earth chlorides and the recovery and recycling of hydrochloric acid;
design and installation of a neutralization system to recycle and manage the generated rare earth chloride solutions; and
development of a batch-level process for light and heavy rare earth oxide production.

End User Qualifications

Since the commencement of Kingston operations, Ucore has had numerous confidential requests for REO products produced to specifications from Western world end users. The CDF produces heavy and light rare earth chlorides from various feedstocks, including monazite, bastnaesite, ionic clays, and xenotime sources. This has been complemented by the development of a dedicated batch-level process area within the CDF for the production of kilogram quantities of rare earth oxides from the generated rare earth chlorides. This is the final processing step of the planned commercial REO production facility.

"It is an exceptionally exciting time for the Company," stated Mike Schrider, P.E., Vice President and Chief Operating Officer of Ucore. "The innovative work being completed at our Commercial Demonstration Facility strongly positions us as a first mover in the Western commercial heavy rare earth processing space as we continue to execute our plan for production in Louisiana.

"The Company is making daily advancements in our integrated knowledge of applying the chemistry of solvent extraction with our computerized column technology platform to the intricate separations involved with heavy rare earth elements. Our flowsheet development and demonstration work in Kingston are essential risk mitigation steps to help us achieve our Louisiana SMC commercial objectives."

The Company has hosted numerous visitors at the CDF over the past several months, including both potential feedstock and offtake partners, as well as supply chain alignment discussions with a variety of industry participants.

# # #

About Ucore Rare Metals Inc.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."

For further information, please visit www.ucore.com.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements." All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.

Regarding any disclosure in the press release above about the US Department of Defense or the Government of Canada Programs and the expected successful progress and resulting milestone payments from these Programs, the Company has assumed that the Programs (including each of their milestones) will be completed satisfactorily. For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs (generally), see the risk disclosure in the Company's MD&A for Q3-2023 (filed on SEDAR on August 27, 2024) (www.sedarplus.ca) as well as the risks described below.

Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.

CONTACTS

Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.

For additional information, please contact:

Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223106

Halifax, Nova Scotia and Perth, Australia–(Newsfile Corp. – August 20, 2024) – Meteoric Resources NL (ASX: MEI) ("Meteoric") and Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore") announce the August 2024 execution of a memorandum of understanding ("MOU") for the supply of 3,000 metric tonnes ("MT") of total rare earth oxide ("TREO") from Meteoric's forthcoming Caldeira Rare Earth Ionic Clay Project ("Caldeira") in the Minas Gerais State of Brazil to Ucore's developing Alexandria, Louisiana, USA, rare earth oxide ("REO") production facility, the Louisiana Strategic Metals Complex ("SMC").

Meteoric is an Australian public company headquartered in Perth, Western Australia. The TREO identified across its Caldeira Project represents an enriched heavy REO basket with strongly enriched Magnet REOs – terbium, dysprosium, neodymium, and praseodymium. Caldeira has been identified as one of the world's lowest-cost sources of rare earths with outstanding financial metrics (refer ASX release 8 July 2024).

Ucore is a Canadian public company headquartered in Halifax, Nova Scotia, with a transformational rare earth separation technology, RapidSX™. Ucore is currently undertaking heavy and light rare earth element ("REE") separation at demonstration scale at its RapidSX™ Commercialization and Demonstration Facility ("CDF") in Kingston, Ontario. Participants include the US Department of Defense and the Canadian Government as Ucore implements its technology transfer plan from demonstration scale to commercial scale at its prospective Louisiana SMC.

Key Provisions of the MOU:

During the term of the MOU, the Parties will work toward establishing a binding definitive agreement for the supply of mixed rare earth carbonate ("MREC") from Caldeira to the Louisiana SMC.
Once the Parties are in production they envision that Ucore will purchase a minimum quantity of 3,000MT of TREO annually from Caldeira.
- This could represent over 900MT of NdPr, approximately 6MT of Tb and 24MT of Dy.
Both Parties will support each other in the pursuit of funding and business development for their respective projects.
Ucore's initial production of REO in Louisiana is forecast to start commissioning by Q4-2025 and commence commercial operations in the first half of 2026.
Meteoric expects to obtain a construction permit by Q4-2025 and aims to commence MREC production during the second half of 2027.

Pat Ryan, P.Eng., Chairman and Chief Executive Officer of Ucore, stated: "Ucore is delighted to have the opportunity to work with Meteoric and its world-class Caldeira Project as we continue to engage with like-minded partners in establishing a Western supply chain made up of diverse global projects. The proximity of South America, particularly Brazil, to the Port of New Orleans and onto our Alexandria, Louisiana facility is ideally situated as we establish rare earth manufacturing in the Southeast United States."

Nick Holthouse, Chief Executive Officer of Meteoric stated: "We are very pleased to be bringing this important agreement with Ucore to market. This builds on Meteoric's MREC offtake strategy,and we are delighted to support Ucore in their march towards becoming an alternative separating option for a Western Rare Earth supply chain. Ucore's interest signals strong external market confidence in the Caldeira Project`s ability to progress to an FID and into production. We look forward to working with Ucore and having the benefit of their technical support and US Government relationships as we continue to pursue and develop our own downstream capabilities and progress to a binding commercial arrangement."

# # #

About Ucore Rare Metals Inc.

Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry. Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana and subsequent Strategic Metal Complexes in Canada and Alaska, USA.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."

CONTACTS

Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the Ucore content in this news release and may be contacted at 1.902.482.5214.

For additional information, please contact:

Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com

About Meteoric Resources

Meteoric Resources NL (ASX: MEI) is a Perth based rare earth company that is progressing its flagship Caldeira Project in Minas Gerais, Brazil and aims to become Brazil's next rare earth producer. The Caldeira Project is an advanced stage exploration project with a true Ionic adsorbed Clay (IAC) deposit with above industry TREO grades and excellent metallurgical recoveries using a standard Ammonium Sulphate (AMSUL) wash flowsheet. These grade and recovery characteristics allow a simple flowsheet to be developed to produce a Mixed Rare Earth Carbonate (MREC) with an anticipated low capital and operating costs. Meteoric aims to become a significant volume, low-cost producer and is committed to supporting and integrating into Western supply chain opportunities.

The announcement has been authorised for release by the Board.

For further information, please contact:

Nick HolthouseChief Executive OfficerMeteoric Resources NLE nholthouse@meteoric.com.auT +61 428 964 276

Michael VaughanInvestor and Media RelationsFivemark PartnersE michael.vaughan@fivemark.com.auT + 61 422 602 720

Forward-Looking Statements and Cautionary Notes

This press release includes certain statements that may be deemed "forward-looking statements" by either Meteoric or Ucore (the "Companies"). All statements in this release (other than statements of historical facts) that address future business development and/or acquisition activities (including any related commercial production activities), timelines, events or developments that the Companies expect, are forward looking statements. Although the Companies believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results and actual results or developments may differ materially from those in forward-looking statements.

For additional risks and uncertainties regarding Ucore, its CDF, its planned commercial activities, and its ongoing Programs (generally), see the risk disclosure in Ucore's MD&A for Q1-2024 (filed on SEDAR on May 28, 2024) (www.sedarplus.ca).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined by the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Meteoric confirms that all forecast financial information derived from the production target in the initial ASX release dated 8 July 2024 continue to apply and have not materially changed.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220620

(Bloomberg) — German chemicals maker BASF SE has abandoned plans to invest in lithium mining assets in Chile as a slowdown in electric-vehicle adoption worldwide drags down battery metal prices.

Most Read from Bloomberg Businessweek

Wallbridge Mining Company Limited

TORONTO, June 27, 2024 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX:WM, OTCQB:WLBMF) (“Wallbridge” or the “Company”) held its Annual Meeting of Shareholders (the “Meeting”) on June 26, 2024.

A total of 375,770,677 shares or 36.98% of the outstanding shares of the Company were represented at the Meeting. All of the matters submitted to the shareholders for approval as set out in the Company's notice of meeting and management information circular dated May 17, 2024 (“MIC”) were approved by the requisite majority of votes cast at the Meeting.

Voting on the following matters, as described in the MIC, were as follows:

To Set the Number of Directors at Seven (7)

Votes For		Votes Against
Number	Percent	Number	Percent
327,860,364	87.25%	47,910,313	12.75%

Election of Directors for the Ensuing Year

The following directors were elected until the next annual meeting of shareholders or until their successors are otherwise duly elected or appointed: Brian Penny, Janet Wilkinson, Michael Pesner, Anthony Makuch, Jeffery Snow, Danielle Giovenazzo and Brian Christie.

	Votes For		Votes Withheld
	Number	Percent	Number	Percent
Brian Penny	307,933,143	87.647%	43,398,663	12.353%
Janet Wilkinson	325,213,100	92.566%	26,118,706	7.434%
Michael Pesner	289,152,398	82.302%	62,179,408	17.698%
Anthony Makuch	343,276,508	97.707%	8,055,298	2.293%
Jeffery Snow	345,531,527	98.349%	5,800,279	1.651%
Danielle Giovenazzo	289,089,828	82.284%	62,241,978	17.716%
Brian Christie	344,870,421	98.161%	6,461,385	1.839%

Appointment of KPMG LLP as Auditor of the Corporation for the ensuing year and authorizing the Directors to fix their remuneration

Votes For		Votes Withheld
Number	Percent	Number	Percent
373,296,489	99.342%	2,474,188	0.658%

About Wallbridge Mining

Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend in Québec’s Northern Abitibi region while respecting the environment and communities where it operates.

Wallbridge’s most advanced projects, Fenelon Gold (“Fenelon”) and Martiniere Gold (“Martiniere”) incorporate a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred gold resources. Fenelon and Martiniere are located within an 830 square kilometre exploration land package controlled by Wallbridge.

Wallbridge has reported a positive Preliminary Economic Assessment (“PEA”) at Fenelon that estimates average annual gold production of 212,000 ounces over 12 years.

Wallbridge also holds a 15.79% interest in the common shares of NorthX Nickel Corp. (formerly “Archer Exploration”) as a result of the sale of the Company’s portfolio of nickel assets in Ontario and Québec. For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:

Wallbridge Mining Company Limited

Brian Penny, CPA, CMAChief Executive OfficerEmail: bpenny@wallbridgemining.comM: +1 416 716 8346

Victoria Vargas, B.Sc. (Hon.) Economics, MBACapital Markets AdvisorEmail: vvargas@wallbridgemining.comM: +1 289 242 3599

Cautionary Note Regarding Forward-Looking InformationThe information in this document may contain forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretations as at the date of this document.

All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include, but are not limited to, words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”

FLI in this document may include, but is not limited to: statements regarding the results of the PEA; the potential future performance of the Common Shares; future drill results; the Company’s ability to convert inferred resources into measured and indicated resources; environmental matters; stakeholder engagement and relationships; parameters and methods used to estimate the MRE’s at Fenelon and Martiniere (collectively the “Deposits”); the prospects, if any, of the Deposits; future drilling at the Deposits; and the significance of historic exploration activities and results.

FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. Accordingly, you should not place undue reliance on the FLI, or information contained herein.

Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.

Assumptions upon which FLI is based, without limitation, include: the results of exploration activities, the Company’s financial position and general economic conditions; the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Deposits; the accuracy of key assumptions, parameters or methods used to estimate the MREs and in the PEA; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about Wallbridge's business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca.

Cautionary Notes to United States InvestorsWallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). Terms relating to mineral properties, mineralization and estimates of mineral reserves and mineral resources and economic studies used herein are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended. NI 43-101 differs significantly from the disclosure requirements of the SEC generally applicable to US companies. As such, the information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.

REE Automotive Ltd.

Penske Truck Leasing begins to offer Powered by REE® Electric Vehicles to its customers
U-Haul received Powered by REE electric platform and is evaluating it as the first solution to support the electrification of its fleet
Airbus and REE collaborate on an autonomous program utilizing REE’s P7-C full by-wire and autonomous-ready technology, which opens REE to new autonomous driving markets
Demo program underway, with a growing number of trucks already delivered and an increasing number of fleets that continue to provide excellent reviews through REE’s network of 20 dealers, 66 sales and service locations, reaching a potential 200 fleet customers across North America
In discussions with several automotive manufacturers to incorporate REEcorner® by-wire technology into their electric offerings
P7-C is the first full by-wire truck to achieve U.S. FMVSS certification; now eligible for customer incentives of over $100,000 per truck
Cash and equivalents of $77.5 million as of March 31, 2024; $15 million (gross) proceeds raised in a public offering at $6.50 per share led by M&G, a strategic automotive investor and REE’s largest shareholder
First quarter GAAP net loss narrowed by 29% quarter-over-quarter (QoQ) with Non-GAAP net loss narrowing by 33% QoQ mainly due to the completion of the engineering phase and operational efficiencies
Company will hold a conference call at 8:30 a.m. Eastern Time today, May 30, 2024 which can be accessed via webcast at investors.ree.auto or webcast registration LINK; and via conference call dial-in LINK.

TEL AVIV, Israel, May 30, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE) (“REE” or the “Company”), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced its financial results and operational highlights for the three months ended March 31, 2024.

“We started 2024 with strong momentum and catalytic milestones, from achieving U.S. certification to starting to deliver trucks against our order book as part of our demo program with our dealers across North America. These demos are used by dealers to generate orders from their fleet customers, potentially further growing our order book value, which recently crossed $50 million. As our dealer network is now sufficiently built to properly cover North America, we are pivoting to focus on adding fleet orders to our order book and to serve some of the largest fleet companies in the world, including Penske Truck Leasing (“Penske”) and U-Haul International, Inc. (“U-Haul”). We are excited to partner with Penske and have them offer our electric trucks to their customers and we are proud to be the first electrification partner for U-Haul which we believe both demonstrates our leadership in the industry and the value our technology delivers,” stated Daniel Barel, REE’s co-founder and CEO.

“We believe that our REEcorner® technology uniquely positions us in a lucrative portion of the commercial electric vehicles (“EV”) value chain. The U.S. Federal Motor Vehicle Safety Standards (“FMVSS”), U.S. Environmental Protection Agency (“EPA”) and California Air Resources Board (“CARB”) certifications attained solidified our technological leadership. We see growth in market penetration through our dealers’ network across North America, as well as increasing demand from other automotive manufacturers to adopt our REEcorner® technology. We continue to see interest in our mature full by-wire technology for autonomous solutions as we have shown through our collaboration with Airbus UpNext (“Airbus”) in its autonomous program. We believe that this, coupled with our capital expenditure (“CapEx”)-light manufacturing and operations strategy, enables us to rapidly reach our commercial market and financial goals. We believe our initial customer deliveries, and the feedback we receive on our products, show strong potential, and we expect it will generate significant growth in our order book supporting our production strategy,” Barel concluded.

Q1 2024 and Recent Highlights:

Business:

Penske begins to offer Powered by REE® EVs to its customers. Subsequent to quarter end, REE delivered to Penske a P7-C upfitted with a 16-foot Wabash DuraPlate® body for demos and orders across North America. Penske is a leading global transportation services provider managing a fleet of approximately 450,000 vehicles with more than 2,650 rental locations across North America. The Penske truck debuted at the 2024 ACT Expo generating interest from large fleets.
U-Haul received and is evaluating a Powered by REE® class 5 electric platform as the first solution to support the electrification of its fleet. U-Haul is a subsidiary of the U-Haul Holding Company (NYSE: UHAL) founded in 1945, U-Haul operates more than 23,000 rental locations across all 50 states and 10 Canadian provinces with a fleet of 192,200 trucks, 138,500 trailers and 44,500 towing devices.
Airbus selected the Powered by REE® vehicle for a fully autonomous program based on REE’s full by-wire capabilities. REE believes that this solidifies the maturity of its full by-wire technology and potentially opens REE to the autonomous driving market.
Deliveries have commenced to REE’s distribution network of 20 dealers with 66 points of sales and service and access to a potential of over 200 fleets across the U.S and Canada. Demos of REE’s P7-C have begun to be delivered to fleets for orders, potentially adding further momentum to the current $50 million order book value.
Launched demo program to expand fleets’ exposure to REE’s commercial EV. Subsequent to quarter-end more than 120 demo rides were performed with multiple prospects, with the aim to generate follow-on orders based on continued positive feedback received from fleets. The demos give fleets the opportunity to experience the first FMVSS certified full by-wire commercial vehicle, secure the inventory they need to transition their fleets to electric and aim to showcase the P7-C’s driver-centric cabin, modular design and tight maneuverability firsthand.
Two new complete P7-C solutions were showcased at the National Truck and Equipment Association’s Work Truck Week in Indianapolis, Indiana. Addressing Pritchard’s demand, a full P7-C truck was upfitted with a KUV body from Knapheide, North America’s most popular manufacturer of work truck bodies and truck beds. Subsequent to quarter-end, at the ACT Expo, REE presented the P7-C truck upfitted with a 16-foot Wabash DuraPlate® body, built per Penske’s requirements.

Technology:

P7-C is the first full by-wire truck to achieve U.S. FMVSS and EPA certifications. P7-C vehicles are now eligible for a U.S. federal tax credit of up to $40,000 per vehicle and are expected to be eligible for over $100,000 of incentives per vehicle with additional state incentives.

Operations:

REE is progressing with its CapEx light manufacturing strategy to achieve bill of materials break-even in the low hundreds of vehicles. The two-step manufacturing approach involves U.S. assembly of full vehicles and continued production of REEcorners® at the Company’s automated Coventry, UK facility, which has an annual capacity of 10,000 vehicle sets.
The tooling investment for the REEcorner® in the UK has been deployed, resulting in a highly efficient, automated production line consisting of 13 robotic stations, run by only seven human operators. REEcorners® are built upon customer order, not inventory, thus optimizing working capital.
Financing options are being evaluated to fund scale production of full vehicles by the end of 2024 and subsequent scaling in 2025 and beyond. Once funding is secured, REE plans to ramp up production in the U.S. against its order book, in parallel to the completion of the production tooling program. Once the U.S. production tooling comes online, REE plans to scale production responsibly according to available working capital and demand, with a goal of de-risking execution.

Financials:

First quarter GAAP net loss narrowed by 29% QoQ to $25.2 million compared to $35.2 million in Q4 2023 and narrowed by 12% year-over-year (YoY) compared to $28.6 million in Q1 2023. The YoY decrease was mainly driven by operational efficiencies implemented, which reduced payroll and related costs and other operational expenses, as well as lower share-based compensation expenses. These decreases were partially offset by losses from remeasurement of warrants and financial expenses related to convertible notes as well as an increase in income tax expenses. The decrease compared to the previous quarter was mainly attributed to the increased non-recurring engineering development costs in Q4 2023.
Non-GAAP net loss in the quarter narrowed by 33% QoQ to $21.7 million compared to $32.2 million in Q4 2023 and narrowed by 10% from $24.0 million in Q1 2023.
REE ended Q1 2024 with liquidity of $77.5 million comprised of cash and cash equivalents and short-term investments, inclusive of a $15 million credit facility.
Free cash flow (FCF) burn continued to narrow in Q1 2024, with a 6% reduction from Q4 2023, consistent with the trend in full year 2023 when REE reported a 25% YoY decrease in FCF burn.
During the first quarter, the Company raised approximately $15 million (gross) in proceeds through a public offering of ordinary shares priced at $6.50 per share. The equity raise was led by M&G Investment Management Limited, one of Europe’s largest investment firms, a strategic automotive investor, and REE’s largest shareholder. In addition, from January 2024 through May 30, 2024, the Company issued 54,938 Class A Ordinary Shares under the At the Market Offering Agreement with H.C. Wainwright & Co., LLC for total gross proceeds of approximately $0.3 million.

A reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."

Non-GAAP Financial Measures

We have provided in this release financial information that has not been prepared in accordance with Generally Accepted Accounting Principles (GAAP). These non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies. We use these non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with peer companies, many of which present similar non-GAAP financial measures to investors.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures provided in the financial statement tables below.

We believe that adjusted EBITDA, non-GAAP net loss, non-GAAP operating expenses, non-GAAP basic and diluted net loss per share, reflect additional means of evaluating REE’s ongoing operating results and trends. We believe that these non-GAAP measures provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

We believe that Free Cash Flow to be a liquidity measure that provides useful information to management and investors about the amount of cash used in our operational activities and capital expenditures. Free Cash flow burn represents the negative cash outflow used in our activities as explained above.

REE AUTOMOTIVE LTD.Condensed Consolidated Statements of Comprehensive LossU.S. dollars in thousands (except share and per share data)(Unaudited)
	Three Months Ended
	March 31,2024			December 31,2023			March 31,2023
Revenues	$	160		$	455		$	—
Cost of revenues		804			913			—
Gross loss	$	(644	)	$	(458	)	$	—
Operating expenses:
Research and development expenses, net		15,358			28,587			18,874
Selling, general and administrative expenses		7,170			8,125			10,843
Total operating expenses		22,528			36,712			29,717
Operating loss	$	(23,172	)	$	(37,170	)	$	(29,717	)
Income (loss) from warrants remeasurement		(706	)		396			—
Financial income, net		131			341			1,061
Net loss before income tax		(23,747	)		(36,433	)		(28,656	)
Income tax expense (income)		1,436			(1,200	)		(34	)
Net loss	$	(25,183	)	$	(35,233	)	$	(28,622	)
Net comprehensive loss	$	(25,183	)	$	(35,233	)	$	(28,622	)
Basic and diluted net loss per Class A ordinary share(1)	$	(2.28	)	$	(3.44	)	$	(2.87	)
Weighted average number of ordinary shares used in computing basic and diluted net loss per share(1)		11,023,880			10,236,827			9,961,218

(1) On October 18, 2023, the Company effected a reverse share split of the Company’s Class A ordinary shares and Class B ordinary shares at the ratio of 1-for-30. As a result, all Ordinary Class A shares, Ordinary Class B shares, options for Ordinary Class A Shares, exercise price and net loss per share amounts were adjusted retroactively for all periods presented above as if the stock reverse split had been in effect as of the date of these periods. For further details, see the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on March 27, 2024.

REE AUTOMOTIVE LTD.Condensed Consolidated Balance SheetsU.S. dollars in thousands (except share and per share data)
	March 31,2024			December 31,2023
	(Unaudited)			(Audited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	53,612		$	41,232
Short-term investments		23,880			44,395
Accounts receivable		45			455
Inventory		1,500			463
Other accounts receivable and prepaid expenses		8,143			6,959
Total current assets		87,180			93,504

NON-CURRENT ASSETS:
Non-current restricted cash		3,009			3,008
Other accounts receivable		2,348			2,871
Operating lease right-of-use assets		20,591			21,418
Property and equipment, net		17,113			17,099
Total non-current assets		43,061			44,396
TOTAL ASSETS	$	130,241		$	137,900

LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Short term loan	$	15,015		$	15,019
Trade payables		3,430			3,703
Other accounts payable and accrued expenses		12,985			14,046
Operating lease liabilities		2,407			2,411
Total current liabilities		33,837			35,179

NON-CURRENT LIABILITIES:
Warrants liability		4,106			3,400
Convertible promissory notes		5,577			4,806
Deferred tax liability		725			—
Operating lease liabilities		15,659			16,440
Total non-current liabilities		26,067			24,646
TOTAL LIABILITIES		59,904			59,825

SHAREHOLDERS’ EQUITY:
Ordinary shares		—			—
Additional paid-in capital		931,656			914,211
Accumulated deficit		(861,319	)		(836,136	)
Total shareholders’ equity		70,337			78,075
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	130,241		$	137,900

REE AUTOMOTIVE LTD.Condensed Consolidated Statements of Cash FlowsU.S. dollars in thousands(Unaudited)
	Three Months Ended
	March 31,2024			March 31,2023
Cash flows from operating activities:

Net loss	$	(25,183	)	$	(28,622	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		813			483
Accretion income on short-term investments		—			(328	)
Share-based compensation		2,823			4,658
Change in fair value of warrants liability		706			—
Change in fair value of derivative liability		441			—
Amortization of convertible promissory note		112			—
Interest expenses		215			—
Decrease in accrued interest on short-term investments		515			171
Increase in inventory		(1,037	)		—
Decrease in accounts receivable		410			—
Increase in other accounts receivable and prepaid expenses		(661	)		(806	)
Change in operating lease right-of-use assets and liabilities, net		42			(293	)
Decrease in trade payables		(235	)		(944	)
Decrease in other accounts payable and accrued expenses		(911	)		(780	)
Increase in deferred tax liability, net		725			—
Other		—			31
Net cash used in operating activities		(21,225	)		(26,430	)

Cash flows from investing activities:

Purchase of property and equipment		(865	)		(1,269	)
Purchases of short-term investments		—			(22,364	)
Proceeds from short-term investments		20,000			55,100
Net cash provided by investing activities		19,135			31,467

Cash flows from financing activities:

Proceeds from issuance of ordinary shares, net		14,471			—
Proceeds from exercise of options and warrants		—			68
Repayment of short term loan		(15,000	)		—
Proceeds from short term loan		15,000			—
Net cash provided by financing activities		14,471			68

Increase in cash, cash equivalents and restricted cash		12,381			5,105
Cash, cash equivalents and restricted cash at beginning of year		44,240			59,925
Cash, cash equivalents and restricted cash at end of period	$	56,621		$	65,030

Reconciliation of GAAP Financial Metrics to Non-GAAPU.S. dollars in thousands (except share and per share data)(Unaudited)Reconciliation of Net Loss to Adjusted EBITDA
	Three Months Ended
	Mar 31,2024			Dec 31,2023			Mar 31,2023
Net Loss on a GAAP Basis	$	(25,183	)	$	(35,233	)	$	(28,622	)
Financial income, net		(131	)		(341	)		(1,061	)
Income tax expense (income)		1,436			(1,200	)		(34	)
Loss (income) from warrants remeasurement		706			(396	)		—
Depreciation, amortization and accretion		1,640			1,541			1,060
Share-based compensation		2,823			3,388			4,658
Adjusted EBITDA	$	(18,709	)	$	(32,241	)	$	(23,999	)

Reconciliation of net cash used in operating activities to Free Cash Flow
	Three Months Ended
	Mar 31,2024		Dec 31,2023		Mar 31,2023
Net cash used in operating activities	(21,225	)	(23,084	)	(26,430	)
Purchase of property and equipment	(865	)	(392	)	(1,269	)
Free Cash Flow	(22,090	)	(23,476	)	(27,699	)

Reconciliation of GAAP operating expenses to Non-GAAP operating expenses; GAAP net loss to Non-GAAP net loss, and presentation of Non-GAAP net loss per Share, basic and diluted:
	Three Months Ended
	Mar 31,2024			Dec 31,2023			Mar 31,2023
GAAP operating expenses		22,528			36,712			29,717
Share-based compensation		(2,823	)		(3,388	)		(4,658	)
Non-GAAP operating expenses		19,705			33,324			25,059

GAAP net loss		(25,183	)		(35,233	)		(28,622	)
Loss (income) from warrants remeasurement		706			(396	)		—
Share-based compensation		2,823			3,388			4,658
Non-GAAP net loss	$	(21,654	)	$	(32,241	)	$	(23,964	)

Weighted average number of ordinary shares used in computing basic and diluted net loss per share(1)		11,023,880			10,236,827			9,961,218
Non-GAAP basic and diluted net loss per share(1)	$	(1.96	)	$	(3.15	)	$	(2.41	)

To learn more about REE Automotive’s patented technology and unique value proposition that position the company to break new ground in e-mobility, visit www.ree.auto.

About REE AutomotiveREE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE® are equipped with the revolutionary REEcorner®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a full by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low total cost of ownership (TCO), and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com

Investor ContactDana Rubinstein Chief Strategy Officer | REE Automotiveinvestors@ree.auto

Caution About Forward-Looking StatementsThis communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses that its REEcorner® technology uniquely positions it in a lucrative portion of the commercial EV value chain, the growing demand to adopt its REEcorner® technology and products, its outlook that deliveries are expected to grow to the low thousands of vehicles in 2025, working up to a cumulative delivery goal of approximately 6,000 vehicles by the end of 2026, putting it in a position for positive cash flow, access to a potential of 200 fleets across North America, benefits and advantages of REE trucks, that P7-C vehicles are expected to be eligible for over $100,000 of incentives per vehicle with additional state credits, that it is evaluating its financing options to fund the scaling of production of full vehicles by the end of 2024, its planned subsequent scaling in 2025 and beyond, that once funding is secured, and that once U.S. production tooling comes online, that it plans to ramp up production responsibly according to available working capital and demand, with a goal of de-risking execution. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.

REE Automotive Ltd.

Penske Class 4 EV Powered by REE

The P7-C is the world’s first FMVSS certified full by-wire EV featuring all-wheel steer and all-wheel drive with a range of up to 169 miles and a driver-centric cab upfitted with a 16 foot Wabash DuraPlate® body with ramp

– The Powered by REE® Penske truck will be on display at the REE booth at ACT Expo in Las Vegas- The P7-C is the world’s first FMVSS certified full by-wire EV featuring all-wheel steer and all-wheel drive with a range of up to 169 miles and a driver-centric cab upfitted with a 16 foot Wabash (NYSE: WNC) DuraPlate® body with ramp- REE and Penske will hold a joint press conference to expand on the collaboration during ACT Expo in Las Vegas

LAS VEGAS, May 15, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced that Penske Truck Leasing, a leading global transportation services provider, will begin to offer Powered by REE EVs to its customers interested in electrifying their fleets for demos and orders, adding further momentum to REE’s current $50 million order book value.

“We are looking forward to adding REE’s by-wire vehicle to our electric truck lineup and giving our fleet customers the opportunity to demo the vehicle and experience the technology firsthand,” said Paul Rosa, Senior Vice President of Procurement & Fleet Planning at Penske.

Paul Rosa and Daniel Barel, co-founder and CEO of REE, will hold a joint press conference to expand on the collaboration on May 22, 2024, at ACT Expo in REE’s booth #3723 at 12:45 p.m. PT.

Penske’s customers will have the opportunity to experience the intended benefits of the world’s first U.S. Federal Motor Vehicle Safety Standards (FMVSS) certified, software-driven, electric vehicle powered by REEcorner® full by-wire technology including:

Superior maneuverability and all-wheel drive functionality
Enhanced safety with fail operational design via redundancies in hardware and software
Driver-centric cabin with excellent ergonomics and low chassis height
REEcorners designed for serviceability for low total cost of ownership (TCO)
Strong residual values
Future-proofed, autonomous-ready and over-the-air (OTA) upgrade capable
Modular design and quick time to market
Optimal energy efficiency

“Today’s announcement is a testament to the synergy between REE's revolutionary technology and Penske's commitment to leading in the transportation and logistics industry,” said Daniel Barel, CEO and co-founder of REE Automotive. “This is the fruit of a long collaboration and incorporation of Penske’s voice of the customer. We are currently working on additional P7-C configurations to maximize utilization within Penske’s large product offering. By partnering with Wabash for this upfit, we believe that we were able to provide a superior product to Penske, meeting their requirements as well as expanding our roster of upfitters that can seamlessly integrate with REE’s platforms.”

REE collaborated with Wabash (NYSE: WNC) to upfit the P7-C with a custom DuraPlate® truck body utilizing the unique low floor, all-wheel steer all-wheel drive full by wire P7-C characteristics. Wabash's DuraPlate technology's lightweight properties enhance the feasibility of electric chassis for fleets while maintaining durability. Vehicles Powered by REE are upfit ready and designed to offer considerable benefits for body installations, including:

No Drill: Integrated mounting weld nuts so that bodies can be secured directly to frame rails
Battery Maintenance: Accessible from under the chassis
Flat Floor with integrated ramp: Structural advantages and weight savings by reducing the need for additional body mounting kits, and independent suspension to reduce body stresses. The ramp takes advantage of the low floor box configuration.
Electrical Integration: Plug and play chassis harnesses for aftermarket electrical and ADAS systems
Driver Assistance Systems: Seamless integration of third-party systems; camera images can be viewed directly on infotainment screen

To learn more about REE Automotive’s patented technology and unique value proposition that position the company to break new ground in e-mobility, visit www.ree.auto.

About REE AutomotiveREE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE® are equipped with the revolutionary REEcorner®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a fully by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low total cost of ownership (TCO), and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

About Penske Truck LeasingPenske Truck Leasing is a Penske Transportation Solutions company headquartered in Reading, Pennsylvania. A leading provider of innovative transportation solutions, Penske operates and maintains more than 445,000 vehicles and serves its customers from more than 980 maintenance facilities and more than 2,650 rental locations across North America. Solutions from Penske include full-service truck leasing, fleet maintenance, truck rentals, used trucks, and a comprehensive array of technologies to keep the world moving forward. Visit PenskeTruckLeasing.com to learn more.

Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com

Investor ContactKamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

Caution About Forward-Looking StatementsThis communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses the benefits of its vehicle design, its intent to provide additional P7-C configurations, its intent to hold a press conference with Penske at ACT Expo, the potential for the demo to add further momentum to its current $50 million order book value and Penske’s intent to demo the P7-C to its customers. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.

Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with building out of REE’s supply chain; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to lack of compliance with Nasdaq’s minimum bid price requirement; future sales of our securities by existing material shareholders or by us could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of interest rate changes, the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate; the ongoing military conflict in Israel; fluctuations in interest rates and foreign exchange rates; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2024 and in subsequent filings with the SEC.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a582bc2-e518-4f0b-8324-cef314eae769

REE Automotive Ltd.

REE to showcase new variants of its software-driven electric trucks

For the first time, the company will showcase its software-driven, clean sheet approach to modular electric vehicles (EVs) including the revolutionary REEcorner®, the P7-S stripped chassis, and a full vehicle built on the P7-C chassis cab with a bespoke upfit.

– REE to showcase new variants of its software-driven electric trucks

– Company to announce new partnerships

– First ever open opportunity to ride and drive the world’s first full by-wire P7-C truck

– Explore the three ways to upgrade your vehicles to the full by wire technology at booth 3723

LAS VEGAS, May 08, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced it will attend ACT Expo 2024 in Las Vegas May 20-23, 2024. For the first time, the company will showcase its software-driven, clean sheet approach to modular electric vehicles (EVs) including the revolutionary REEcorner®, the P7-S stripped chassis, and a full vehicle built on the P7-C chassis cab with a bespoke upfit. ACT Expo attendees will see firsthand the wide range of application potential through three different variations of REE’s groundbreaking technology and will be able to get behind the wheel of the P7-C electric truck for a ride and drive experiencing firsthand the advantages of the REEcorner® full by wire technology.

“At our core, we are an automotive technology company shaking up the industry with our disruptive x-by-wire technology,” said Daniel Barel, CEO and co-founder of REE Automotive. “By showcasing our REEcorner, stripped chassis and full vehicle solution, we are able to properly demonstrate our mantra of ‘complete not compete’. Pure software driven vehicles are the future of automotive and at ACT 2024 we will be showcasing all of the different paths to upgrade to powered by REE EVs based on our REEcorners, stripped chassis and FMVSS certified full vehicles to fleets and other OEMs.”

Intended benefits of REE’s full x-by-wire technology:

Steer, brake and drive-by-wire technology
Enables purpose-built vehicles to drive down total cost of ownership (TCO)
Excellent serviceability + residuals
Future-proofed, autonomous-ready and over the air (OTA) upgrade capable
Improved maneuverability and tight turn radius
Low energy cost per mile
Deep data analytics and application services

Three ways to work with REE to upgrade your vehicles to be software-driven:

Enhance your platforms with REEcorners®

Build your truck on a REE chassis

Fast time to market with a ready electric chassis
Battery agnostic
Fully flat and low chassis, designed for high modularity
Simple and fast top-hat compatibility

Purchase a full P7-C Chassis Cab

FMVSS, EPA and CARB certified medium-duty electric truck
Driver centric cabin
Fully flat with low step in height
Eligible for the U.S. federal Internal Revenue Service (IRS) Commercial Clean Vehicle Tax Credit which allows customers to receive a tax credit of up to $40,000 per vehicle which can be combined with state incentives equaling up to $100,000 per vehicle

To schedule a meeting with REE’s sales team while at the show, visit https://ree.auto/event/act-expo-2/.

Media interested in more information or scheduling a meeting with company management may contact ree@skyya.com.

To learn more about REE Automotive’s patented technology and unique value proposition that position the company to break new ground in e-mobility, visit www.ree.auto.

About REE AutomotiveREE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE® are equipped with the revolutionary REEcorner®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a fully by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low TCO, and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com

Investor ContactKamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

Caution About Forward-Looking StatementsThis communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses its intent to showcase its EVS, REEcorner®, chassis and a full vehicle built on the p7-C chassis cab at ACT Expo 2024, its belief that software driven vehicles are the future of the automotive industry and the expected time to market of its ready electric chassis . In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/099dca30-4748-4c79-b757-c6b980f25bce

REE Automotive Ltd.

TEL AVIV, Isreal, March 22, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE) (“REE” or the “Company”), an automotive technology company and provider of full by-wire electric trucks and platforms, will release its fourth quarter and fiscal year 2023 financial results before market open on Wednesday, March 27, 2024.

A webcast and conference call will be held on the same date at 8:30 a.m. ET to review the Company’s financial results for the fourth quarter and fiscal year 2023, discuss recent events and conduct a question-and-answer session.

The live webcast of the conference call can be accessed on the Investors section of the Company’s website at investors.ree.auto. Click here for webcast URL.

The conference call will be accessible domestically or internationally by pre-registering at investors.ree.auto. Upon registering, each participant will be provided with a Participant Dial-in Number, and a unique PIN. For the telephone conference online registration click here.

About REE AutomotiveREE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE® are equipped with the revolutionary REEcorner®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a fully by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low TCO, and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com

Investor ContactKamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

REE Automotive Ltd.

REE Automotive P7-C

REE’s zero-emission, software-driven commercial EV will be on display, showcasing to investors the company’s unique value proposition for the North American market

– REE’s zero-emission, software-driven commercial EV will be on display, showcasing to investors the company’s unique value proposition for the North American market- Carlton Rose, REE's chairman of the board, will speak on a panel discussion around sustainability and the future of zero emission trucking on Monday, March 18 at noon PT- REE Co-Founder and CEO Daniel Barel will participate in a fireside chat on Tuesday, March 19 at 1 p.m. PT

DANA POINT, Calif., March 14, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, will present at the 36th Annual Roth Conference in Dana Point, Calif., March 17-19 (“the Roth Conference”). The company will showcase its electric vehicle technology – the REEcorner® and display it’s P7-C vehicle part of a demo program, the first U.S. FMVSS certified full by-wire vehicle.

“At the Roth Conference, we are welcoming the investment community to learn more about REE and how we plan to power the zero-emission future,” said Daniel Barel, CEO and co-founder of REE Automotive. “We believe that we are unlike anything commercially available today, with our IP-protected REEcorner technology designed to allow our vehicles to deliver greater efficiency and flexibility, and makes them autonomous ready. We are seeing strong market demand as we continue to grow our order book and expand dealership network across North America. We are doing this while at the same time built for strong unit economics with modest capital needs by focusing on our core competencies.”

REE will display its P7-C chassis cab upfitted with a Knapheide KUVcc body – the world’s first FMVSS certified, software-driven, fully by-wire electric demo vehicle – at the Roth Conference, Ritz-Carlton, Laguna Niguel.

REE leadership will participate in two speaking engagements:

EV Trucking; Industry Oracles Give the Commercial Perspective Panel Participants: Carlton Rose, REE chair of the board and former UPS global fleet manager; Ryan Pritchard, chief revenue officer of Pritchard EV; Date: Monday, March 18 Time: 12 p.m. PTLocation: The Ritz-Carlton, Laguna Niguel in Salon 3 Webcast link

Fireside Chat with REE CEO and Co-founder Daniel BarelDate: Tuesday, March 19 Time: 1 p.m. PTLocation: The Ritz-Carlton, Laguna Niguel in Salon 3

To schedule a 1-1 meeting with REE’s management team while at the conference, contact ir@ree.auto.

To learn more about REE Automotive’s patented technology and unique value proposition that positions the company to break new ground in e-mobility, visit www.ree.auto.

About REE AutomotiveREE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE® are equipped with the revolutionary REEcorner®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a fully by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low TCO, and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

About ROTH MKMROTH MKM is a relationship-driven investment bank focused on serving growth companies and their investors. Their full service platform provides capital raising, high impact equity research, macroeconomics, sales and trading, technical insights, derivatives strategies, M&A advisory, and corporate access. Headquartered in Newport Beach, California, ROTH MKM is a privately-held, employee owned organization and maintains offices throughout the U.S. For more information, please visit www.roth.com.

Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com

Investor ContactKamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

Caution About Forward-Looking StatementsThis communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it states its belief that it is unlike anything commercially available today and that it is seeing strong market demand as it continues to grow its order book and expand dealership network across North America. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.

A photo accompanying this announcement is available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/6c67eed5-f56e-434a-b1d1-7f473ac5720f

REE Automotive Ltd.

REE Automotive and Knapheide Debut Full Vehicle Solution 1

REE Automotive’s first Class 4 P7-C demo electric chassis cab to arrive in the U.S. has been upfitted with Knapheide’s KUV body

REE Automotive and Knapheide Debut Full Vehicle Solution 3

REE Automotive’s first Class 4 P7-C demo electric chassis cab to arrive in the U.S. has been upfitted with Knapheide’s KUV body

REE Automotive and Knapheide Debut Full Vehicle Solution 4

REE Automotive’s first Class 4 P7-C demo electric chassis cab to arrive in the U.S. has been upfitted with Knapheide’s KUV body

REE Automotive and Knapheide Debut Full Vehicle Solution 2

REE Automotive’s first Class 4 P7-C demo electric chassis cab to arrive in the U.S. has been upfitted with Knapheide’s KUV body

REE Automotive’s first Class 4 P7-C demo electric chassis cab to arrive in the U.S. has been upfitted with Knapheide’s KUV body
The vehicle will travel to NTEA Work Truck Week in Indianapolis to be showcased at Knapheide’s distributor event on March 5, 2024

QUINCY, Ill., Feb. 22, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced that its first demo P7-C fully by-wire chassis cab has arrived in the U.S. and has completed its upfitting at Knapheide in Quincy, Illinois. Knapheide, North America’s most popular manufacturer of work truck bodies and truck beds, upfitted the P7-C with its KUV body, known to create optimized organization for the technician by dividing the storage space into manageable compartments that are externally accessible from either side of the body. By working together, REE and Knapheide will allow fleets the flexibility they need when selecting a body for their fully by-wire electric vehicles.

“With REE’s first of its kind fully by-wire vehicle technology and Knapheide’s proven excellence with work truck bodies, we believe that REE and Knapheide will be able to provide the right body and equipment solutions for vocational fleets across North America,” said Tali Miller, Chief Business Officer of REE Automotive. “Once upfitted, vocational fleets will be able to experience and drive REE vehicles on their routes and use it in their everyday activities. This is where we believe REE vehicles will really shine.”

“As the most popular choice in North America for work truck bodies, we are happy to work with REE and its Authorized Dealer Network to put our world class bodies on their fully-flat, full by-wire chassis,” said Chris Weiss, Vice President of Engineering for Knapheide. “We are committed to making the upfit process seamless for fleet owners and providing them with a tailored experience that will result in a customized vehicle solution they’re excited to drive.”

Photos of the full vehicle:

REE Automotive and Knapheide Debut Full Vehicle Solution 1

REE Automotive and Knapheide Debut Full Vehicle Solution 3

REE Automotive and Knapheide Debut Full Vehicle Solution 4

REE Automotive and Knapheide Debut Full Vehicle Solution 2

To learn more about REE Automotive’s patented technology and unique value proposition that position the company to break new ground in e-mobility, visit www.ree.auto.

About REE AutomotiveREE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE™ are equipped with the revolutionary REEcorner™, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to certify a fully by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners™ enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low TCO, and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

Media ContactMalory Van GuilderSkyya PR for REE Automotive +1 651-335-0585ree@skyya.com

Investor ContactKamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

Caution About Forward-Looking StatementsThis communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward looking statements when it discusses the potential benefits of the P7-C upfitted with Knapheide’s KUV vehicles, the types of activities that may be performed during REE’s demo program and the overall potential benefits of REE’s platforms. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/dc0f6f47-6784-48a7-ae13-6571bde24346

https://www.globenewswire.com/NewsRoom/AttachmentNg/3e54e263-ecf8-4b2f-ab84-a1e886633a4e

https://www.globenewswire.com/NewsRoom/AttachmentNg/04ad1afa-8bfe-485a-a2fb-d93ac42aad08

https://www.globenewswire.com/NewsRoom/AttachmentNg/39662972-c313-4284-9ee4-5b0b1d59c940

REE Automotive Ltd.

REE AUTOMOTIVE P7-C

COVENTRY, United Kingdom, Jan. 29, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE) (“REE” or the “Company”), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced that leading northwest fleets in the U.S., including Franz Bakery, Bedmart, Indoor Billboard, PointS Tires and Kelly’s Home Center, in partnership with certified REE dealer FMI Trucks, plan to evaluate the P7-C medium-duty electric demo truck.

FMI Trucks is one of the first dealers to receive the brand-new P7-C electric truck from REE’s initial production batch for their fleet customers to review Powered By REE™ vehicles in real world conditions.

The demo will give fleets the opportunity to experience the first fully-by-wire commercial vehicle and secure the inventory they need to transition their fleets to electric and aims to showcase the P7-C’s driver-centric cabin, modular design and improved maneuverability firsthand.

“I am very excited to be among the first U.S. dealers to receive REE’s P7-C demo trucks and to soon be able to provide our fleets with the opportunity to try out a great electric truck that drivers want to drive, and fleets want to buy,” said Don Emerson, President at FMI. “REE's commitment to redefining the automotive landscape aligns seamlessly with FMI's pursuit to offer our fleet customers the most cutting-edge vehicles and to partner with them as they make the transition to electrification."

“Now that fleets have the opportunity to experience REE’s technology in the real world, we are looking forward to receiving their valuable feedback,” said Tali Miller, Chief Business Officer at REE. “The P7-C demo is designed to allow our certified dealers to offer their fleet customers a truly differentiated electric truck and a superb service that allows them to shift their fleets to the electric future.”

To learn more about REE Automotive’s patented technology and unique value proposition that positions the company to break new ground in e-mobility, visit www.ree.auto.

About REE Automotive

REE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE™ are equipped with the revolutionary REEcorner™, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to certify a fully by-wire vehicle in the US, REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners™ enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low TCO, and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

About FMI Sales & Service

Founded by Don Emerson in May of 1985 in Portland, Oregon, FMI Truck Sales & Service began as repair and maintenance facility for truck fleets with two diesel mechanics and one parts counterman. FMI now operates two shifts, from three dealership locations with twenty-six technicians and ten parts specialists. In 1989, FMI became a full-service Hino Diesel Truck dealership and the Isuzu franchise was added in early 1992.

FMI is dedicated to providing excellent customer service and satisfaction. They are focused on treating everyone – customers, employees, partners and vendors – with honesty and respect. They believe that customer service begins with the understanding that it is simply “people doing business with people.”

FMI sells trucks and parts nationwide and serves the repair and service needs of companies in Oregon and SW Washington. While FMI’s core business remains Hino and Isuzu truck sales, Japanese truck service and repair and the sale of new and used Isuzu, Hino and UD parts, it has diversified into body fabrication and installation, rental trucks, and specialty components to meet our customers varied needs and requirements.

Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com

Investor ContactKamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

Caution About Forward-Looking Statements

This communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward looking statements when it discusses that the demo vehicle aims to give fleets the opportunity to experience the first fully-by-wire commercial vehicle and secure the inventory they need to transition their fleets to electric, the potential benefits of the P7-C and that the demo is designed to allow certified dealers to offer their fleet customers a truly differentiated electric truck and a superb service that allows them to shift their fleets to the electric future. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/1ef849b2-dcd6-4a2c-bc66-6ff24f21f03e

https://www.globenewswire.com/NewsRoom/AttachmentNg/d8d1f516-a3ae-445e-be60-276a8d105023

REE Automotive Ltd.

P7-C Front

REE

P7-C Side Profile

SAN FRANCISCO, Jan. 25, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE) (“REE” or the “Company”), an automotive technology company and provider of full by-wire electric trucks and platforms, announced today that Monarch Truck Center, a premier medium-duty truck dealer in the California Bay Area, will be amongst the first of REE’s certified dealers to receive a P7-C medium-duty by-wire electric demo truck that fleet customers will be able to experience.

Many of Monarch Truck Center’s large fleet customers will be invited to test and evaluate the P7-C for daily fleet operations at ride and drive events in the Bay Area. These customers include, among others, Canteen, the leading provider of workplace food services in the U.S. and part of Compass Group North America, Stanford University and the City of San Jose.

“We are excited to be amongst the first dealers in the U.S. to be receiving REE’s P7-C demo for multiple customers to have an opportunity to use and evaluate the first full-by-wire electric work truck,” said Nicole Guetersloh, President and Owner of Monarch Truck Center. “We see a strong potential for the P7-C to become an important part of our largest fleet customers next generation electric fleet and we will hold a REE ride and drive event for our customers to test and evaluate the P7-C for their daily fleet operations.”

Over the next few months Monarch’s fleet customers will evaluate REE's touted benefits of the P7-C, including its driver centric cabin, modular upfitting designs and improved maneuverability.

“Monarch Truck Center is an important partner that brings a valuable voice of the customer feedback through their relationships with rental and large fleet customers,” said Tali Miller, Chief Business Officer at REE. “We see a very strong potential for the P7-C in California’s electrification plans. It is important for us to allow California-based fleets to have the first opportunity to experience REE’s strong value offering so they can take advantage of the lucrative California electrification incentives.”

To learn more about REE Automotive’s patented technology and unique value proposition that positions the company to break new ground in e-mobility, visit www.ree.auto.

About REE Automotive

To learn more visit www.ree.auto.

Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com

Investor ContactKamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

Caution About Forward-Looking Statements

This communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward looking statements when it discusses the strong potential for the P7-C to become an important part of Monarch’s largest fleet customers next generation electric fleet, that customers will test and evaluate the P7-C for their daily fleet operations, the potential benefits of the P7-C and that it sees strong potential for the P7-C in California’s electrification plans. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/56fde0c2-b203-420c-99e5-3f5e960c5f3d

https://www.globenewswire.com/NewsRoom/AttachmentNg/cb02f621-a34c-4aa9-bb78-6a2c519badcc

https://www.globenewswire.com/NewsRoom/AttachmentNg/0cb1af87-3f51-4208-8fa1-89281910b4ac

REE Automotive Ltd.REE's P7-C electric commercial truck

REE's P7-C

REE’s P7-C can be up fit with almost any body design

REE's P7-C Chassis Cab

The P7-C chassis cab

REE's P7-C Driving on Roads

REE’s P7-C has become the first full by-wire vehicle to be certified in the U.S.

REE’s P7-C is the first fully by-wire truck to achieve U.S. FMVSS and EPA certifications
Customer deliveries of demonstration trucks has begun
P7-C vehicles are eligible for US federal tax credit of up to $40,000 per vehicle and are expected to be eligible for over $100,000 of incentives per vehicle with additional state credits

TEL AVIV, Israel, Jan. 22, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE) (“REE” or the “Company”), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced that it has begun customer deliveries of its P7-C electric chassis cab following Federal Motor Vehicle Safety Standards (FMVSS) and Environmental Protection Agency (EPA) certification, making it the first to certify a fully x-by-wire vehicle.

REE is the first to certify a fully steer-by-wire, brake-by-wire and drive-by-wire vehicle. The Powered by REE™ P7-C medium duty electric commercial truck has met the FMVSS requirements and has achieved EPA approval.

REE has initiated customer deliveries of the first batch of P7-C demonstration trucks for multiple fleets evaluations in North America via its fast-growing Authorized Dealer Network. Pritchard EV, a leading dealer in the U.S., is the first to receive the P7-C demonstration truck for a roadshow with its large fleet customers. Additional REE authorized dealers and leading fleets are expected to receive additional P7-C demonstration units in the coming weeks.

REE’s P7-C is eligible for the U.S. federal Internal Revenue Service (IRS) Commercial Clean Vehicle Tax Credit (Internal Revenue Code 45W), which allows customers to receive a tax credit of up to $40,000 per vehicle. The Company is also in the process of initiating eligibility for various state incentives, which could bring the total incentive to over $100,000 per vehicle, depending on the customer’s location.

“I believe our REEcorner is a true gamechanger, allowing us to build electric trucks that fleets will want to buy, and drivers will love to drive as we continue to see a strong demand for our work trucks,” said Daniel Barel, CEO and co-founder of REE Automotive. “I am incredibly proud of the team at REE for completing certification of the automotive industry’s first ever fully x-by-wire vehicle. Our customers have been eagerly waiting for our vehicles to be ready to deliver and now our first demo trucks are on their way to dealerships for customer evaluations.”

Benefits of REE’s proprietary REEcorner™ and x-by-wire technology can enable:

Superior maneuverability and volumetric efficiency
Enhanced safety with fail operational design via redundancies in hardware and software
Improved ergonomics with low step-in height and driver-centric cabin
Improved serviceability
More efficient maintenance and lower spare part inventory management
Improved residual value
Future-proofed, autonomous-ready and OTA upgrade capable
Modular design and quick time to market
Optimal energy efficiency

“Achieving this certification milestone is a testament to REE’s dedicated team and our determination to bring this technology to market safely,” said Richard Colley, REE’s VP of Government and Regulatory Affairs. “The federal and state incentives that the P7-C will be eligible for will help accelerate fleet electrification in the US, helping to improve public health and meet ambitious climate goals.”

To learn more about REE Automotive’s patented technology and unique value proposition that position the Company to break new ground in e-mobility, visit www.ree.auto.

Media Contact

Malory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com

Investor Contact

Kamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

About REE

Forward Looking Statements

This communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward looking statements when it discusses that authorized dealers and leading fleets are expected to receive additional P7-C demonstration units in the coming weeks, the potential tax credits and incentives available for the P7-C, the potential benefits of its proprietary REEcorner™ and x-by-wire technology and that the federal and state incentives that the P7-C will be eligible for will help accelerate fleet electrification in the U.S., helping to improve public health and meet ambitious climate goals. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.

A video accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/2e6ae948-5a72-4724-8701-96b5e1e09862

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/6ee6ada0-7588-491e-b25f-68610a56cfc4

https://www.globenewswire.com/NewsRoom/AttachmentNg/cbf6333d-f7d1-4457-96e4-9abeb0b8edd9

https://www.globenewswire.com/NewsRoom/AttachmentNg/37bc93fe-f267-4a89-a074-55d79315669f

REE Automotive Ltd.

TEL AVIV, Israel, Sept. 21, 2023 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, has been included in FreightWaves’ annual FreightTech 100 list, an award spotlighting the most innovative companies in the freight technology sector. FreightWaves provides thought leadership and editorial content focused on economic and innovative technology drivers for the freight transportation ecosystem.

“At REE, we believe in pushing the boundaries of what’s possible in the world of mobility,” said Daniel Barel, CEO and co-founder of REE Automotive. “Being recognized as a FreightTech 100 company not only serves a testament to the hard work and dedication of our team but also reinforces our mission to reshape the future of fleets through our innovative REEcorner™ technology.”

Nearly 900 companies from around the globe were nominated for this year's award program. The 100 finalists were selected by a panel of journalists, analysts and experts handpicked by FreightWaves.

Third-party auditor Henderson, Hutcherson and and McCullough (HHM) will conduct a vote among a select group of CEOs, industry leaders and investors actively engaged in the industry to further narrow down the finalists and the FreightTech 25 will be revealed during the upcoming F3: Future of Freight Festival, scheduled for November 7-9 in Chattanooga, Tenn.

To learn more about REE Automotive’s patented technology and unique value proposition that position the company to break new ground in e-mobility, visit www.ree.auto.

Media ContactMalory Van GuilderSkyya PR for REE Automotive +1 651-335-0585ree@skyya.com

Investor ContactKamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

About REE AutomotiveREE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build any size or shape of electric vehicle on their modular platforms. With complete design freedom, vehicles Powered by REE are equipped with the revolutionary REEcorner™, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. With proprietary by-wire technology for drive, steer and brake control that eliminate the need for mechanical connections, all four identical REEcorners™ enable REE to build the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low TCO, and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with building out of REE’s supply chain; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to lack of compliance with Nasdaq’s minimum bid price requirement; future sales of our securities by existing material shareholders or by us could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of the COVID-19 pandemic, interest rate changes, the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate; fluctuations in interest rates and foreign exchange rates; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 28, 2023 and in subsequent filings with the SEC.

REE Automotive Ltd.

Carlton Rose

Carlton Rose joins REE Automotive’s board of directors

TEL AVIV, Israel, June 27, 2023 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE) today announced that Carlton Rose, former global president of fleet maintenance and engineering at UPS, has been appointed to the company’s board of directors, effective immediately.

“Carlton, who spent 42 years at UPS, is one of the most experienced and respected fleet leaders in the world bringing invaluable expertise and a wealth of experience to REE,” said Arik Steinberg, chairman of REE. “We will greatly benefit from his management and industry experience as we continue to shape our long-term vision and strategy.”

“I am excited to join REE’s board of directors at this paramount time in the company’s evolution,” said Carlton Rose. “Over several years I have watched it transform from a startup to a company focused on scaling production as a highly innovative and commercially competitive electric vehicle solution. I look forward to applying my strategic expertise and insights of the industry, as former global president of fleet maintenance and engineering at UPS, managing over 330,000 pieces of equipment around the world.”

“During my time at UPS, I led the development and deployment of over 16,000 low and zero emission, alternate fuel and advanced technology vehicles,” Rose continued. “REE’s focus on innovation, electrification and automation provide a compelling foundation to accelerate e-mobility across multiple vehicle classes, use cases and applications. I believe that better is before us and that REE will come out a leader in the commercial EV industry.”

“It has been exactly four years since we first met Carlton and his team in Tel Aviv where we presented the REEcorner tech to UPS,” said Daniel Barel, co-founder and CEO of REE. “Carlton’s deep industry knowledge and real-life experience in new technology introduction will be of immense addition to REE as we continue to strengthen strategic partnerships with industry-leading dealers and fleet customers.”

To learn more about REE Automotive’s patented technology and unique value proposition that position the company to break new ground in e-mobility, visit www.ree.auto.

Media ContactMalory Van GuilderSkyya PR for REE Automotive +1 651-335-0585ree@skyya.com

Investor ContactKamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

About REE AutomotiveREE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build any size or shape of electric vehicle on their modular platforms. With complete design freedom, vehicles Powered by REE are equipped with the revolutionary REEcorner, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel, enabling REE to build the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low TCO, and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

Caution About Forward-Looking StatementsThis communication includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships, objectives and expectations for our business, the impact of trends on and interest in our business, intellectual property or product and its future results, operations and financial performance and condition.

These forward-looking statements are based on information available as of the date of this communication and current expectations, forecasts, and assumptions. Although REE believes that the expectations reflected in forward-looking statements are reasonable, such statements involve an unknown number of risks, uncertainties, judgments, and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur.

Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, produce and market its newest medium-duty electric box truck built on a P7 cab chassis, as discussed in this press release; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of the ongoing COVID-19 pandemic and any other worldwide health epidemics or outbreaks that may arise; and adverse global conditions, including macroeconomic and geopolitical uncertainty; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 28, 2023 and in subsequent filings with the SEC.

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/0dad5048-7885-422f-b639-c5cfdb9d203e

REE Automotive Ltd.

Continued growth in authorized dealer network and orders, on track for initial production and pilot deliveries by the end of 2023

TEL AVIV, Israel, May 23, 2023 (GLOBE NEWSWIRE) — REE Automotive Ltd. (NASDAQ: REE) (“REE” or the “Company”), an automotive technology leader and provider of electric vehicle (EV) platforms, today announced its financial results for the first quarter ended March 31, 2023, through a shareholder letter posted on the company’s investor relations website at https://investors.ree.auto.

The company will also hold a conference call today, May 23 at 8:30 a.m. ET. The live webcast of the conference call can be accessed on the Investors section of the Company’s website. Click here for webcast URL. For the telephone conference online registration click here.

1Q23 Highlights:

REE remains focused on zero emission Class 3-5 vehicles built on its P7 platforms; ongoing activities support previously announced planned certification completion in 2H23; initial pilot vehicle deliveries to customers targeted to begin by the end of year 2023.
Expands dealer network in the US, with eight dealers and three fleet customers, with initial orders of approximately 100 vehicles1 which are designed to meet the growing demand in part driven by the Advanced Clean Fleet (ACF) regulation. These dealers also facilitate relationships and adoption by fleets, which we believe could purchase hundreds or thousands of vehicles per year.
Company announces two-phase production road map; Phase 1 anticipates production of vehicles in the low hundreds in 2024, with breakeven gross margin on a unit level by the end of that year. Phase 2 targets production in low – mid thousands of vehicles and breakeven EBITDA by the end of 2025.
Company ended fiscal 1Q23 with liquidity of $126 million with no debt; anticipates liquidity of $65 million at year end, following the production of initial 25 P7 vehicles for internal testing and pilot deliveries.

________________________1 The Company’s order book is determined by management based on purchase orders received by the Company. The number of vehicles included in the order book as of May 22, 2023 include 76 vehicles under firm orders (i.e. binding orders) and the remainder of vehicles are of orders that are binding orders with certain additional conditions as set forth in the order.

About REEREE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build any size or shape of electric vehicle on their modular platforms. With complete design freedom, vehicles Powered by REE are equipped with the revolutionary REEcorner, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel, enabling REE to build the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low TCO, and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

Contacts

InvestorsKamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

MediaKeren ShemeshChief Marketing Officermedia@ree.auto

Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, produce and market its newest medium-duty electric box truck built on a P7 platform, as discussed in this press release; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of the ongoing COVID-19 pandemic and any other worldwide health epidemics or outbreaks that may arise; and adverse global conditions, including macroeconomic and geopolitical uncertainty; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 28, 2023 and in subsequent filings with the SEC.

REE Automotive Ltd.

Proxima Powered by REE

REE will host an investor event on July 28, live-streamed from the American Center for Mobility in Ypsilanti, Mich., to provide a business update and showcase the first electric walk-in van Powered by a REE P7 electric chassis, paired with the newly-designed EAVX and Morgan Olson Proxima van body.

YPSILANTI, Mich., July 26, 2022 (GLOBE NEWSWIRE) — REE Automotive (NASDAQ: REE) will host an investor event on July 28, live-streamed from the American Center for Mobility in Ypsilanti, Mich., to provide a business update and showcase the first electric walk-in van Powered by a REE P7 electric chassis, paired with the newly-designed EAVX and Morgan Olson Proxima van body.

What: Live-streamed event to include a business update and Q&A session with REE’s management team including:

Daniel Barel, Co-Founder & CEO,
David Goldberg, CFO,
Joshua Tech, COO, and
Peter Dow, VP of Engineering.

When: Thursday, July 28 at 11 a.m. ET

Where: Register for the webcast here.

The event follows the start of prospective customer evaluations of the all-new electric step-in van, which leverages REE’s REEcorner technology and P7 electric vehicle chassis. Combined with EAVX and Morgan Olson’s decades of experience building walk-in step van bodies, the vehicle introduces new technologies to enhance driver ergonomics and efficiencies that will transform the industry.

For more information on Proxima Powered by REE, read the press release here, watch it in motion here, and visit https://www.lastmileevolution.com/.

MediaCaroline HutchesonHead of Global Communications | REE Automotive+1252-314-2028media@ree.auto

InvestorsLimor GruberVP Investor Relations | REE Automotive+972-50-5239233investors@ree.auto

Kamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

About REE AutomotiveREE (Nasdaq: REE) is an automotive technology leader whose mission is to empower companies to build any size or shape of electric or autonomous vehicle – from Class 1 through Class 6 – for any application and any target market. REE aims to serve as the underpinning on top of which EVs and AVs will be built and envisions a future where EVs and AVs will be ‘Powered by REE’.

REE’s revolutionary technology – the REEcorner™ – packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel, enabling REE to build the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE uses x-by-wire technology to control each of the corners of the vehicles with full drive-by-wire, brake-by-wire and steer-by-wire.

REE’s EV platforms afford complete freedom of design, enabling auto-manufacturers, OEMs, delivery & logistic fleets, Mobility-as-a-Service providers and new mobility players to design mission-specific EVs and AVs based on their exact business requirements and significantly reduce their time-to-market, lower TCO and meet zero-carbon regulations.

Headquartered in Herzliya, Israel, REE has an Engineering Center in the UK, as well as subsidiaries worldwide including Japan and Germany, and plans to open its U.S. headquarters and first Integration Center in Austin, Texas. REE’s unique CapEx-light manufacturing model leverages Tier-1 partners’ existing production lines; the company’s extensive partner ecosystem encompasses leading names including Hino Motors (truck arm of Toyota), Magna International, JB Poindexter, Navya and American Axle & Manufacturing to provide a full turnkey solution.

REE’s patented technology, together with its unique value proposition, position it to break new ground in e-Mobility.

For more information visit: https://www.ree.auto.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6345b793-fd94-444f-bdfb-66789aecfcce

REE will leverage Say Connect Platform to crowdsource questions ahead of earning calls, broadening access to retail investors

TEL-AVIV, Israel, Nov. 09, 2021 (GLOBE NEWSWIRE) — REE Automotive Ltd. (NASDAQ: REE), a leader in e-mobility, today announced that it has partnered with Say Technologies, (“Say”) for its innovative communication platform. The platform will allow REE to deepen its connection with its investors and enable them to submit and upvote questions to management ahead of earning calls. REE will use the Say Connect platform for its upcoming third quarter earnings call which is scheduled for 8:30am ET on Tuesday, November 16, 2021.Daniel Barel, REE Co-Founder and CEO: “We believe in transparency and accessibility – it’s imperative that we are able to communicate and interact with our various investor types. We are excited to partner with Say Technologies to utilize their advanced platform of interaction with our shareholders.”Starting today, shareholders will be able to submit and up-vote questions to management ahead of earnings. To submit questions, please click here: https://app.saytechnologies.com/ree-2021-q3/

The Q&A platform will remain open until 24 hours before the earnings call and management intends to respond to a selection of questions during the Q&A portion of the call.

The live webcast of the conference call can be accessed via the Events section in REE’s Investor Relations website at https://investors.ree.auto/ or by clicking here: https://edge.media-server.com/mmc/p/rkvhaymk. For those unable to access the webcast, the conference call will be accessible domestically or internationally, by dialing 877-407-9039 or 201-689-8470, respectively. Upon dialing in, please provide your details and request to join the REE Automotive Third Quarter 2021 Earnings Conference Call.

Headquartered in Herzliya, Israel, REE has an Engineering Center in the UK, as well as subsidiaries worldwide including Japan and Germany, and plans to open its U.S. headquarters and first Integration Center in Austin, Texas. REE’s unique CapEx-light manufacturing model leverages Tier-1 partners’ existing production lines; the company’s extensive partner ecosystem encompasses leading names including Hino Motors (truck arm of Toyota), Magna International, JB Poindexter, and American Axle & Manufacturing to provide a full turnkey solution.

REE’s patented technology, together with its unique value proposition, position it to break new ground in e-Mobility. For more information visit https://www.ree.auto.

About SaySay unlocks the power of shareholder votes and voices. Innovative public companies use Say to build deeper relationships with their investors, and the world’s fastest-growing brokers and investment platforms use Say to make shareholder rights more accessible for their customers. Additional information is available at www.saytechnologies.com.

Contacts:

Investor Relations Limor Gruber VP Investor Relations | REE Automotive +972-50-5239233 investors@ree.auto

MediaKeren ShemeshChief Marketing Officer | REE Automotive+972-54-5814333media@ree.auto

TEL AVIV, Israel, November 05, 2021–(BUSINESS WIRE)–REE Automotive Ltd. (NASDAQ: "REE"), a leader in e-mobility, today announced the nomination of American Axle & Manufacturing (AAM) Holdings, Inc. (NYSE: AXL), a leading global Tier 1 automotive supplier, to supply REE with its high-performance electric drive units (EDU).

AAM’s award-winning 3-in-1 electric drive technology – which places the electric motor, gearbox and inverter into a single package – will be integrated into REEcorner technology. AAM’s high-speed, highly integrated 3-in-1 propulsion systems are designed to provide the highest levels of torque and power density, a great match for REE’s compact and modular REEcorners as they offer more power with less weight and packaging volume.

The electric drive units will be developed at AAM’s Advanced Technology and Development Center in Detroit with delivery of prototypes planned by the end of 2021 with full volume production expected by 2024. The initial integration will be for prototype builds for a U.S.-based delivery van program.

REEcorners™ integrate critical vehicle components (inc. steering, braking, suspension, powertrain & control) into a single compact module positioned between the chassis and the wheel. REE uses true x-by-wire technology to control each of the corners of the vehicles with full drive-by-wire, brake-by-wire and steer-by-wire, expected to deliver vehicle stability, responsiveness and safety with fully independent wheel control. REE’s corner technology enables building modular, fully-flat EV platforms with more room for passengers, cargo and batteries – as much as 35% greater interior space as compared to internal combustion vehicles or conventional EVs. REE’s EV platforms afford complete freedom of design, enabling auto-manufacturers, OEMs, delivery & logistics companies, and new mobility players to design EVs based on their exact specifications while reducing time-to-market, lowering TCO and meeting zero-carbon regulations.

Daniel Barel, REE Co-Founder and CEO: "This supplier nomination is an important step in our production progress as we remain totally focused on execution. With our nomination of AAM, an innovator in electric propulsion systems, we are securing future capacity of EDUs to support our growth and advancing our goal of partnering with leading automotive suppliers to bring the best technology to customers for flexible end-use options. In AAM we have a found a partner with the experience and expertise that will help propel a zero-emissions future in line with our vision."

About REE Automotive

REE (Nasdaq: REE) is an automotive technology leader whose mission is to empower companies to build any size or shape of electric or autonomous vehicle – from Class 1 through Class 6 – for any application and any target market. REE aims to serve as the underpinning on top of which EVs and AVs will be built and envisions a future where EVs and AVs will be ‘Powered by REE’.

Headquartered in Herzliya, Israel, REE has an Engineering Center in the UK, as well as subsidiaries worldwide including Japan and Germany, and plans to open its U.S. headquarters and first Integration Center in Austin, Texas. REE’s unique CapEx-light manufacturing model leverages Tier-1 partners’ existing production lines; the company’s extensive partner ecosystem encompasses leading names including Hino Motors (truck arm of Toyota), Magna International, JB Poindexter, and American Axle & Manufacturing to provide a full turnkey solution.

REE’s patented technology, together with its unique value proposition, position it to break new ground in e-Mobility. For more information visit https://www.ree.auto.

About AAM

AAM (NYSE: AXL) delivers POWER that moves the world. As a leading global Tier 1 automotive supplier, AAM designs, engineers and manufactures driveline and metal forming technologies that are making the next generation of vehicles smarter, lighter, safer and more efficient. Headquartered in Detroit, AAM has approximately 20,000 associates operating at nearly 80 facilities in 17 countries to support our customers on global and regional platforms with a focus on quality, operational excellence and technology leadership. To learn more, visit www.aam.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211105005486/en/

Contacts

Investor Relations Limor GruberVP Investor Relations, REE Automotive+972-50-5239233investors@ree.auto Media Keren ShemeshChief Marketing Officer, REE Automotive+972-54-5814333media@ree.auto

NEW YORK and TEL AVIV, Israel, Nov. 02, 2021 (GLOBE NEWSWIRE) — REE Automotive, Ltd. (NASDAQ: REE), a leader in e-mobility, announced today that it will release its third quarter 2021 financial results before the market opens on Tuesday, November 16, 2021. A webcast and conference call will be held on November 16, 2021, at 8:30 a.m. Eastern time to review the Company’s third quarter results, discuss recent developments and conduct a question-and-answer session.

The live webcast of the conference call can be accessed via the News & Presentations/Events section in REE’s Investor Relations website at https://investors.ree.auto/. For those unable to access the webcast, the conference call will be accessible domestically or internationally, by dialing 877-407-9039 or 201-689-8470, respectively. Upon dialing in, please provide your details and request to join the REE Automotive Third Quarter 2021 Earnings Conference Call.

ReplayFollowing the live webcast a replay of the conference call can be accessed via the Events section in REE’s Investor Relations website at https://investors.ree.auto/.

About REEREE is an automotive technology leader creating the cornerstone for tomorrow's zero-emission vehicles. REE’s mission is to empower global mobility companies to build any size or shape of electric or autonomous vehicle – from class 1 through class 6 – for any application and any target market. Our revolutionary, award-winning REEcorner technology packs traditional vehicle drive components (steering, braking, suspension, powertrain and control) into the arch of the wheel, allowing for the industry's flattest EV platform. Unrestricted by legacy thinking, REE is a truly horizontal player, with technology applicable to the widest range of target markets and applications. Fully scalable and completely modular, REE offers multiple customer benefits including complete vehicle design freedom, more space and volume with the smallest footprint, lower TCO, faster development times, ADAS compatibility, reduced maintenance and global safety standard compliance.

Headquartered in Tel Aviv, Israel, with subsidiaries in the USA, the UK and Germany. REE has a unique CapEx-light manufacturing model that leverages its Tier 1 partners’ existing production lines. REE’s technology, together with their unique value proposition and commitment to excellence, positions REE to break new ground in e-Mobility. For more information visit https://www.ree.auto.

Contacts

Investor RelationsLimor GruberVP Investor Relations, REE Automotive+972-50-5239233investors@ree.auto

MediaKeren ShemeshChief Marketing Officer, REE Automotive+972-54-5814333media@ree.auto

Vancouver, British Columbia–(Newsfile Corp. – October 25, 2021) – Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth") makes the following announcement in accordance with National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and National Instrument 62-104 Take-Over Bids and Issuer Bids.

The Company is pleased to announce that on October 22, 2021, the Company acquired 13,225,197 common shares (each, an "Acquired Share") of World Copper Ltd. ("World Copper") from Escalones Resource Corp. ("ERC"), a wholly owned subsidiary of Gold Springs Resource Corp. ("Gold Springs"; together with ERC, the "Vendor"), pursuant to a securities transfer agreement (the "Securities Transfer Agreement") among World Copper, the Company, Gold Springs and ERC for the aggregate purchase price of $4,364,315.01 (the "Acquisition").

Immediately prior to the closing of the Acquisition, the Company beneficially owned and had control and direction over an aggregate of 8,333,333 common shares of World Copper (the "WCU Shares"), representing approximately 16.72% of the issued and outstanding WCU Shares. Immediately after the closing of the Acquisition, the Company beneficially owns and has control and direction over an aggregate of 21,558,530 WCU Shares, representing approximately 43.26% of the issued and outstanding WCU Shares. The change in the Company's securityholding percentage of WCU Shares is approximately 26.54%.

Pursuant to the Securities Transfer Agreement, the Company also acquired from the Vendor a special warrant (the "Special Warrant") originally issued by World Copper to ERC on January 15, 2021. The Special Warrant entitles the holder thereof to acquire upon the deemed exercise of the Special Warrant, for no additional consideration, up to 8,148,900 common shares of World Copper (the "Special Warrant Shares") from time to time, upon the exercise of any of the 19,014,101 common share purchase warrants (the "WCU Warrants") of World Copper which were issued and outstanding as of January 15, 2021, all of which WCU Warrants remain issued and outstanding as of the date hereof.

Of the 13,225,197 Acquired Shares acquired by the Company, (i) 9,918,898 Acquired Shares will remain subject to a TSX Venture Exchange value securities escrow agreement made as of January 15, 2021 (the "Escrow Agreement") among World Copper, Computershare Investor Services Inc. and certain shareholders of World Copper; and (ii) 3,306,299 Acquired Shares are free trading. Any Special Warrant Shares issued will also be released from escrow in accordance with the Escrow Agreement.

The Company completed the Acquisition for investment purposes and, to the extent that the aggregate number of exercised Options (as defined below) is in excess of the number of WCU Shares owned by the Company immediately prior to the Acquisition, for resale purposes. The Company will review its holdings in World Copper on a continuing basis and, other than as a result of the deemed exercise of the Special Warrant resulting in the issuance of Special Warrant Shares to the Company, may from time to time and at any time, in their sole discretion, acquire or cause to be acquired additional securities of the Company, or dispose or cause to be disposed such securities, through open market transactions, private placements by the Company and other privately negotiated transactions, or otherwise, in each case in accordance with the Company's obligations to applicable securities laws.

The Company will file an early warning report under World Copper's profile on the SEDAR website at www.sedar.com. A copy of the early warning report can also be obtained from the Company's head office at Suite 2710 – 200 Granville Street, Vancouver, British Columbia, V6C 1S4, Attn.: Marla Ritchie (Phone: 604-331-0096 Ext. 3886).

Closing of Non-Brokered Private Placement

The Company is also pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering") for aggregate gross proceeds of $5,750,000 through the issuance of 12,234,044 units (the "Units") at a subscription price of $0.47 per Unit.

Each Unit consists of one common share in the capital of the Company and one contractual option (each, an "Option") to purchase a WCU Share from the Company. Each Option will entitle the holder to purchase from the Company one WCU Share at the price of $0.33 for a period of three years. The Options held by each holder will be non-transferable and will be exercisable in accordance with the provisions of the certificates evidencing the Options.

In connection with the closing of the Offering, finder's fees were payable on a portion of the Offering to PI Financial Corp. ($9,870 cash), Canaccord Genuity Corp. ($9,376.50 cash) and Richardson Wealth Ltd. ($8,225 cash). All securities issued pursuant to the Offering will be subject to a hold period of four-months and one day in Canada from the closing of the Offering. The net proceeds were used to purchase 13,225,197 WCU Shares pursuant to the abovementioned Acquisition, and for general working capital.

A director of the Company (the "Related Party") participated in the Offering pursuant to the terms described above, purchasing in aggregate 2,127,660 Units. This constitutes a related party transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on Sections 5.5(a) and 5.7(1)(a) of MI 61-101 for an exemption from the formal valuation and minority shareholder approval requirements, respectively, as at the closing of the Offering, neither the fair market value of the Units issued in connection with the Offering, nor the fair market value of the consideration received by the Company for same, insofar as it involved the Related Party, exceeded 25% of the Company's market capitalization.

About Wealth Minerals Ltd.

Wealth is a mineral resource company with interests in Canada, Mexico and Chile. The Company's main focus is the acquisition and development of lithium projects in South America. To date, the Company has positioned itself to work alongside existing producers in the prolific Atacama salar, where the Company has a substantial license package.

Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.

For further details on the Company readers are referred to the Company's website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.

On Behalf of the Board of Directors ofWEALTH MINERALS LTD.

"Hendrik van Alphen"Hendrik van AlphenChief Executive Officer

For further information, please contact:

Marla RitchiePhone: 604-331-0096 Ext. 3886 or 604-638-3886E-mail: info@wealthminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the amount of the Offering, the anticipated use of proceeds from the Offering, the anticipated deemed exercise of the Special Warrant and the number of Special Warrant Shares issuable thereunder, the exercise of Options, and the anticipated business plans and timing of future activities of the Company, are forward looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believe", "will", "may", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events that may, could, would, might or will occur or be taken or achieve. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100690

Mosaic (MOS) closed at $42.17 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's daily gain of 0.3%.

Prior to today's trading, shares of the fertilizer maker had gained 28% over the past month. This has outpaced the Basic Materials sector's gain of 7.79% and the S&P 500's gain of 4.28% in that time.

MOS will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2021. The company is expected to report EPS of $1.63, up 608.7% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.83 billion, up 60.82% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.02 per share and revenue of $12.48 billion, which would represent changes of +490.59% and +43.77%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for MOS. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.14% higher within the past month. MOS is currently a Zacks Rank #2 (Buy).

In terms of valuation, MOS is currently trading at a Forward P/E ratio of 8.47. This represents a discount compared to its industry's average Forward P/E of 14.81.

It is also worth noting that MOS currently has a PEG ratio of 1.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Fertilizers stocks are, on average, holding a PEG ratio of 1.53 based on yesterday's closing prices.

The Fertilizers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

The Mosaic Company (MOS) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

CONNECT WITH US

Tweets

Tweet with hash tag #miningfeeds or @miningfeeds and your tweets will be displayed across this site.

Tweets by MiningFeeds

MOST ACTIVE MINING STOCKS

Daily Gainers


Ratel Group Ltd.	RTG.TO	+60.00%
Empire Resources Limited	ERL.AX	+50.00%
MRG Metals Limited	MRQ.AX	+50.00%
African Metals Corp.	AFR.V	+33.33%
Carbine Resources Limited	CRB.AX	+33.33%
Granite Creek Gold Ltd.	GCX.V	+33.33%
Rugby Mining Limited	RUG.V	+33.33%
Casa Minerals Inc.	CASA.V	+30.00%
Blue Sky Uranium Corp.	BSK.V	+25.00%
Plato Gold Corp.	PGC.V	+25.00%

CONNECT WITH US

Tweets

MOST ACTIVE MINING STOCKS

Daily Gainers

Articles

FOUND POSTS

Arizona Gold & Silver (TSXV:AZS)(OTCQB:AZASF) Provides Exploration Update for Philadelphia Project in Arizona

Arras Minerals (TSXV:ARK) Updates on Elemes Drill Program in Kazakhstan

Barksdale Resources (TSXV:BRO) Intercepts Copper-Rich CRD Sulfide Mineralization

Potential Trump Tariffs Could Reshape Copper Market Dynamics in 2025

Solaris Resources (TSX:SLS) in 2024: A Look Back at a Year of Transformation and Strategic Realignment