RareX Announces Proposed Issue of Securities

RareX Limited (ASX: REE) has announced a proposed issue of 1 million ordinary fully paid shares as part of consideration for a land access agreement, effective from 25 October 2024. This issue will utilise the company’s 15% placement capacity under listing rule 7.1 and not require security holder approval. The shares will be subject to a 12-month voluntary escrow. The agreement, disclosed on 30 July 2024, aims to secure land access for future development projects.

The issued securities will rank equally with existing shares, enhancing the company’s operational capacity and land access for exploration and development. The estimated AU dollar equivalent for the consideration provided will be disclosed in future updates.

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