Rex Minerals Limited executed a non-binding Heads of Agreement to acquire Hog Ranch Group Pty Ltd. from Richard Laufmann and others for AUD 1.2 million.

Rex Minerals Limited (ASX:RXM) executed a non-binding Heads of Agreement to acquire Hog Ranch Group Pty Ltd. from Richard Laufmann and others for AUD 1.2 million on July 17, 2019. As per the agreement, Rex will issue 10 million fully-paid ordinary Rex shares and 20 million performance rights which will convert to Rex shares based on the outcome of certain performance hurdles. Rex Minerals will do the due diligence and finalize commercial terms. The transaction is subject to shareholder approval.