Rex Resources Corp. has advanced its ongoing reverse takeover transaction by executing an agreement to extend the scheduled completion timeline to no later than March 31, 2027.

The timeline adjustment follows an asset purchase agreement signed on August 28, 2026, by Bathurst Metallic Corp., a wholly owned subsidiary of Bathurst Holdings Inc. Under the terms of the agreement, Bathurst Metallic has agreed to acquire the Stratmat and Halfmile Lake projects located in New Brunswick from Trevali Mining Corporation and its court-appointed monitor, FTI Consulting Canada Inc.

Completion of the asset purchase agreement is subject to several conditions, including formal court approval and clearance from the Government of New Brunswick. The agreement establishes an outside closing date of November 30, 2026, for those transactions.

The corporate combination builds upon an initial letter of intent signed in September 2025, which led Rex Resources and Bathurst Holdings to enter into a definitive agreement in January 2026 regarding the reverse takeover. Rex Resources and Bathurst Holdings are now working together to prepare necessary regulatory submissions and filings in connection with the reverse takeover transaction, which will proceed as soon as Bathurst Holdings receives the required government approval from New Brunswick to close the asset purchase.

Additional financial information regarding Bathurst Holdings, alongside further details concerning the reverse takeover, the asset purchase agreement, and the resulting issuer, will be provided in a subsequent news release and in the filing statement that the parties will file under the company’s profile on SEDAR+.

Trading in the common shares of Rex Resources remains halted and is not expected to resume until the reverse takeover transaction is fully completed.

Read the full announcement: Rex Resources Announces Asset Purchase Agreement Entered Into by Bathurst Metallic Corp. With Respect to Stratmat and Halfmile Lake Projects