Rex Resources Corp. Completes Acquisition of B.C. Company with a Prospective Mineral Property near Port Alberni
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
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”,
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“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.