Oct 24 (Reuters) - Latin Resources Ltd LRS.AX :
* ENTERED INTO A CONDITIONAL BINDING TERMS SHEET TO ACQUIRE ELECTRIC METALS
* CONDUCTING A SHARE PLACEMENT, CONVERTIBLE NOTE ISSUE TO PROFESSIONAL, SOPHISTICATED INVESTORS AND A RIGHTS ISSUE
* CONSIDERATION COMPRISES ISSUE OF 25 MILLION ORDINARY SHARES & 6.3 MILLION OPTIONS TO SUBSCRIBE FOR SHARES IN CO AT EXERCISE PRICE OF $0.012