Cosmos Exploration Spin-Off Gathers Momentum

Proposed demerger of the Byro East Ni-Cu-PGE Project and Orange East Gold Project consistent with RareX focus on developing the Cummins Range Rare Earths Project in WA.

RareX Limited (ASX: REE, the Company) is pleased to advise that its previously announced proposal to spin-out its non-core Byro East Nickel-Copper-PGE Project (Byro East) and Orange East Gold Project (Orange East) is progressing to the next stage. The Company plans to demerge its newly-established, 100%-owned subsidiary, Cosmos Exploration Limited (Cosmos). In conjunction with the proposed spin-out, Cosmos will undertake an Initial Public Offering (Public Offer) and apply for admission to the Official List of ASX. RareX has entered into a Demerger Implementation Deed with Cosmos (key terms of the Deed are detailed on page 5 of this announcement). RareX shareholders will be given an opportunity to participate in a priority offer to take up shares in the Cosmos IPO (RareX Priority Offer). Canaccord Genuity (Australia) Limited has been appointed as Lead Manager to the Public Offer. ...