Rox to Demerge Nickel and Base Metal Assets

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  • March 31, 2021

• Fisher East and Collurabbie nickel and base metal assets to be spun out (via a demerger) into a new company “Cannon Resources Limited”.
• Eligible Rox shareholders to receive new Cannon Resources shares via an in-specie distribution, subject to Rox shareholder approval.
• 1 for 15 consolidation of the equity securities in Rox to be completed prior to demerger, subject to Rox shareholder approval.
• Rox shareholders are expected to receive 1 ordinary share in Cannon Resources Limited for every 4.3 shares (approximately) held in Rox on a post-consolidation basis.

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