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Rex Resources Corp
Symbol	OWN
Shares Issued	11,189,285
Close 2023-05-30	C$ 0.10
Market Cap	C$ 1,118,929
Recent Sedar+ Documents

Rex Resources closes B.C. company acquisition

2023-06-19 20:14 ET - News Release

Subject: For Immediate Release "Rex Resources Corp. Completes Acquisition of B.C. Company with a Prospective Mineral Property near Port Alberni" Word Document File: '\\swfile\EmailIn\20230619 170656 Attachment Rex - NR - Broadstone Closing.DOCX' - 2 - LEGAL_22383372.1 REX RESOURCES CORP. Suite 1570, 505 Burrard Street Vancouver, BC, V7X 1M5 June 19, 2023 TSX-V: OWN Rex Resources Corp. Completes Acquisition of B.C. Company with a Prospective Mineral Property near Port Alberni Vancouver, B.C. - Rex Resources Corp. (TSX-V: OWN) ("Rex" or the "Company"), a mineral exploration company listed on the TSX Venture Exchange (the "Exchange"), is pleased to announce that, further to its news release dated May 18, 2023, it has completed the acquisition (the "Acquisition") of 100% of the issued and outstanding shares of 1414447 B.C. Ltd. ("BCCO"), pursuant to the terms of a securities exchange agreement dated effective May 18, 2023 (the "Definitive Agreement") among the Company, BCCO and the sole shareholder of BCCO, Broadstone Resources Inc. ("Broadstone"). BCCO holds a 100% interest in eight (8) contiguous mineral claims totalling approximately 1,562 hectares located near Port Alberni, British Columbia, generally known as the "Rex Property". For additional details regarding the Rex Property, see the Company's news release dated May 18, 2023, available under the Company's SEDAR profile at www.sedar.com. All currency references herein are in Canadian currency unless otherwise specified. In connection with the Acquisition, the Company issued Broadstone 1,000,000 common shares in the capital of the Company (the "Payment Shares") at a deemed price of $0.05 per Payment Share. As additional consideration, the Company paid Broadstone a cash payment of $60,000. Pursuant to the terms of the Definitive Agreement, the Company also agreed to pay Broadstone an additional cash payment of $115,000, which shall be payable on or before the earlier of (a) the date that is six (6) months following the closing date of the Acquisition and (b) three (3) business days following the date on which the Company completes an equity financing for gross proceeds of at least $400,000. The Acquisition is subject to final approval from the Exchange. About Rex Resources Corp. Rex is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. Rex has an option to acquire a 60% interest and title to the Kalum property located in the Terrace area of British Columbia. ON BEHALF OF THE BOARD OF DIRECTORS OF REX RESOURCES CORP. Anthony Zelen, Director (778) 338-5258 anthonyzelen88@gmail.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 release. Forward Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations (including negative and grammatical variations) of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this press release may include, without limitation, statements relating to the potential of the Rex Property, regulatory approvals, and future press releases and disclosure. These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general economic factors, management's ability to manage and to operate the business, and explore and develop the projects of Rex, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of Rex may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Rex believes that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, each of Rex disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.