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BRIEF-Reclaim Industries says acquisition of rision to proceed on renegotiated terms

Published 07/09/2015, 05:07 pm
Updated 07/09/2015, 05:17 pm
© Reuters.  BRIEF-Reclaim Industries says acquisition of rision to proceed on renegotiated terms
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Sept 7 (Reuters) - Reclaim Industries Ltd RCM.AX :

* Acquisition of rision to proceed on renegotiated terms RCM.AX

* Says has entered into a heads of agreement ("hoa") with rision and the rision shareholders

* Says "agreemnt to acquire 100% of the rights and title in all the issued capital of rision on amended terms"

* Rcm is seeking to undertake a sophisticated placement to raise between $1.2 million and $1.5 million by way of convertible note

* Under the terms of the hoa, rcm, rision and vendors are to execute a revised share sale agreement to replace existing share sale agreement within 60 days

* Source text for Eikon ID:nASX2QSp88

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