Sept 9 (Reuters) - MOD Resources Ltd MOD.AX :
* MOD set to expand holdings around mahumo project MOD.AX
* Consideration for acquisition includes upfront cash payment with majority of the consideration on deferred basis once certain targets are met
* Finalising a proposed transaction to acquire a number of prospecting licences in the immediate area of MOD's mahumo project
* As part of the transaction, MOD has entered into an agreement with a London stock exchange aim-listed investment company
* Deal with aim-listed investment co to fund initial upfront payment for acquisition in return for 30% interest in prospecting licences to be acquired
* Announce a non-renounceable pro-rata rights issue to raise up to $1.2 million
* Funds raised through rights issue intended to be applied to commence resource extension drilling program at mahumo
* Source text for Eikon ID:nASX3yn2qV