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