May 26 (Reuters) - Spectrum Rare Earths Ltd SPX.AX :
* Agreement to acquire bcal diagnostics SPX.AX
* Entered into a binding heads of agreement with bcal diagnostics pty limited
* Deal to acquire all of the issued capital in bcal dx.
* Intends to undertake a capital raising to raise at least $3.5 million at an issue price to be determined.
* Says it is intended that the current board of spx will resign at completion of the bcal dx acquisition
* Bcal dx acquisition will result in application of chapter 11 of listing rules in relation to spx
* Source text for Eikon ID:nASX3frmnP