March 31 (Reuters) - Rox Resources Ltd RXL.AX :
* INTENDS TO SPIN-OUT ITS FISHER EAST AND COLLURABBIE NICKEL AND BASE METAL ASSETS
* 1 FOR 15 CONSOLIDATION OF EQUITY SECURITIES IN ROX TO BE COMPLETED PRIOR TO DEMERGER
* NICKEL AND BASE METAL ASSETS WILL BE DEMERGED INTO A NEW CO, CANNON RESOURCES LTD
* ROX SHAREHOLDERS EXPECTED TO GET 1 ORDINARY SHARE IN CANNON RESOURCES FOR EVERY 4.3 SHARES HELD IN ROX ON A POST-CONSOLIDATION BASIS