Northwire Canada EditionThursday, September 3, 2026
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M&A / Property

Rex Resources further extends closing of RTO

By The Northwire Desk — AI Analysis Sep 03, 2026 · 05:27 OWN Rex Resources Corp.
OWN · Price

Rex Resources Corp. (OWN) announced that Bathurst Metals Corp., a wholly owned subsidiary of Bathurst Holdings Inc., has entered into an asset purchase agreement to acquire the Stratmat and Halfmile Lake projects from Trevali Mining (Maritimes) Ltd. The transaction is subject to court and government approval, with a closing outside date set for November 30, 2026.

In conjunction with this development, Rex Resources and Bathurst Holdings Inc. have amended their definitive agreement to extend the closing date of the pending reverse takeover (RTO) transaction to no later than March 31, 2027. This amendment modifies the terms previously announced on January 14, 2026, and May 19, 2026. The execution of the asset purchase agreement is described as a critical step in the RTO transaction.

The asset purchase agreement involves Bathurst Metals Corp. as the buyer and Trevali Mining (Maritimes) Ltd. as the seller, acting through court-appointed monitor FTI Consulting Canada Inc. The assets being acquired are the Stratmat and Halfmile Lake projects located in New Brunswick, Canada. Closing conditions for the asset purchase include court approval and approval from the government of New Brunswick.

Trading in Rex Resources common shares remains halted pending the completion of the RTO transaction. Trading is not expected to resume until the RTO is completed. Additional information, including financial information regarding Bathurst Holdings Inc., will be provided in a subsequent news release. A filing statement will be filed with SEDAR+ containing additional details on the RTO, the asset purchase agreement, and the parties.

Regarding the path forward, the company stated: "The execution of the asset purchase agreement is a critical step in the RTO transaction."

Furthermore, the company noted: "Rex Resources and BHI will diligently work together toward completing the RTO transaction and making all necessary submissions and filings in connection with the RTO transaction, as soon as BHI receives approval from the government of New Brunswick to close the transactions contemplated under the asset purchase agreement."

Read the original news release →

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