Rox Resources Limited (ASX:RXL) ('Rox' or 'the Company') wishes to announce that Teck Australia Pty Ltd ('Teck') has advised Rox that it has exercised its pre-emptive right to match the offer previously received from Marindi Metals Limited ('Marindi') ('Marindi Offer') (ASX:RXL 17 August 2016) for the purchase of Rox's minority interest in the Reward Zinc Project ( the 'Reward Project' or the 'Project') in the Northern Territory.
Pursuant to the Earn-in and Joint Venture Agreement ('JVA') between Rox and Teck, Teck retained a pre-emptive right over Rox's interest in the Project. Rox was obliged to offer to sell its interest in the Reward Project to Teck under the pre-emptive right.
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