BRIEF-Jl Mag Rare-Earth Says Unit Executed Binding Term Sheet With Hastings Technology Metals

Reuters07-08

July 8 (Reuters) - Jl Mag Rare-Earth Co Ltd :

* UNIT EXECUTED BINDING TERM SHEET WITH HASTINGS TECHNOLOGY METALS

* UNIT TO SUBSCRIBE TO 19.647 MILLION ORDINARY SHARES FURTHER ISSUED BY HASTINGS AT SUBSCRIPTION PRICE OF AUD0.36/SHARE

* TOTAL SUBSCRIPTION AMOUNT A$7.07 MILLION

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;;))

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