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Rex Resources Corp. ( (TSE:OWN) ) has shared an announcement.
Rex Resources Corp. has successfully closed a non-brokered private placement, raising $600,000 through the issuance of 10,000,000 common shares priced at $0.06 each. The funds will be used to facilitate a proposed business combination with Bathurst Holdings Inc., anticipated to be a reverse takeover, subject to regulatory and shareholder approvals. The transaction includes insider participation and is classified as a related party transaction, with certain exemptions applied. The completion of the transaction remains uncertain, and the company’s shares are subject to statutory and contractual hold periods.
Spark’s Take on TSE:OWN Stock
According to Spark, TipRanks’ AI Analyst, TSE:OWN is a Underperform.
Rex Resources Corp. is currently in a challenging financial position, with significant profitability and cash flow issues. Technical indicators suggest a continued bearish trend, and unfavorable valuation metrics further weigh on the stock. While corporate events such as board changes and share consolidation may provide some strategic direction, the company’s core financial difficulties remain the primary concern.
To see Spark’s full report on TSE:OWN stock, click here.
More about Rex Resources Corp.
Rex Resources Corp. is a mineral exploration company dedicated to the acquisition, exploration, and development of mineral resource properties.
Technical Sentiment Signal: Sell
Current Market Cap: C$653.8K
See more insights into OWN stock on TipRanks’ Stock Analysis page.