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MinRex Resources targets $7M in real estate transition

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Exploration company MinRex Resources (ASX:MRR) has launched its prospectus to raise up to A$ 7 million as part of a transition into the real estate industry.

The transition will involve a backdoor listing via the explorer for Hello Real Estate, which clients a fixed-fee service to sell their property, supported by a team of professional service providers, covering all aspects of selling, web listings, advertising, negotiation, conveyancing, settlement services and professional mentoring. 

MinRex is seeking to acquire all of the issued share capital of Hello via a share offer at A$0.15.

Shares in MinRex were last trading at $0.165, or more than double their value at the beginning of the calendar year.

The capital raised will be used to further develop, expand and promote the Hello business model and to finalise the development of Hello’s technology.

The move is expected to capitalise on a quickly changing real estate industry by using technology and partnerships to offer consumers a trusted, transparent and innovative new way to buy and sell residential property.

Hello currently operates in New South Wales, South Australia, Victoria and Queensland, with licence applications under way in the ACT and Western Australia.


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Quick facts: MinRex Resources Ltd

Price: 0.029 AUD

ASX:MRR
Market: ASX
Market Cap: $6.78 m
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