Agreement with IMI

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  • December 14, 2016

Rox Resources Limited (ASX: RXL) (“Rox”) is pleased to announce that it has reached an agreement with IMI Zinc Exploration Pty Ltd (“IMI”) for the settlement of any and all claims in connection with an offer made by IMI on 18 July 2016 to acquire Rox’s interest in the Reward Zinc Project (“IMI Offer”). Under the settlement agreement, Rox will pay to IMI a total sum of $220,000 for IMI’s reasonable expenses in respect of the IMI Offer. The payment comprises $20,000 cash payable immediately and $200,000 cash payable either on settlement by Rox of the sale of its interest in the Reward Zinc Project, or when a significant (>$500,000) capital raising is completed, whichever occurs first.

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