Vulcan Forges $1.4 Bln Deal With US Government, ReElement To Expand Rare Earth Magnet Supply

Nov 3 (Reuters) - Vulcan Elements:

• VULCAN ELEMENTS FORGES $1.4 BILLION PARTNERSHIP WITH THE UNITED STATES GOVERNMENT AND REELEMENT TECHNOLOGIES TO EXPAND 100% VERTICALLY INTEGRATED, DOMESTIC MAGNET SUPPLY CHAIN

• VULCAN ELEMENTS: WILL BUILD, COMMISSION, AND OPERATE A 10,000 METRIC TONNE MAGNET FACILITY IN UNITED STATES

• VULCAN ELEMENTS: ONGOING TALKS WITH OFFICE OF STRATEGIC CAPITAL & DEPARTMENT OF COMMERCE'S CHIPS PROGRAM OFFICE TO FINALIZE DILIGENCE REQUIREMENTS

• VULCAN ELEMENTS: DEPARTMENT OF WAR TO RECEIVE WARRANTS IN BOTH VULCAN AND REELEMENT, DEPARTMENT OF COMMERCE TO RECEIVE $50 MILLION EQUITY IN VULCAN