April 23 (Reuters) - Rarex Ltd REE.AX :
* RAREX LTD- SPIN-OUT OF NICKEL-COPPER PGE AND GOLD ASSETS
* RAREX LTD- INTENDS TO PURSUE A SPIN-OUT OF ITS NON-CORE BYRO EAST NICKEL-COPPER-PGE PROJECT AND ORANGE EAST GOLD PROJECT
* RAREX LTD- DECISION TO PURSUE A DEMERGER AND SEPARATE LISTING OF THESE PROJECTS FOLLOWS A STRATEGIC REVIEW OF COMPANY'S ASSET BASE
* RAREX LTD - INTENDS TO PURSUE A SPIN-OUT OF THESE PROJECTS INTO A SEPARATE CORPORATE ENTITY NAMED COSMOS EXPLORATION LIMITED
* RAREX LTD - ANTICIPATED COSMOS WOULD ACQUIRE COMPANY'S BYRO EAST AND ORANGE EAST PROJECTS
* RAREX LTD - ANTICIPATED COSMOS WOULD SEEK TO LIST ON ASX DURING 2021 BY WAY OF AN INITIAL PUBLIC OFFERING
* RAREX LTD - SHAREHOLDERS IN RAREX WOULD BE ENTITLED TO PARTICIPATE IN A PRIORITY OFFER IN IPO