Perth based Oz Brewing (ASX: OZB) has positioned itself to transition into the resource sector, and has entered into a heads of agreement to acquire three projects.
Before making this announcement, Oz Brewing was granted a trading halt by the ASX so an orderly market will be available after the full announcement is made to the market.
The company has not yet indicated what resource the projects are targeting, or if they are based in Australia or internationally.
Oz Brewing has some funds on hand if cash is needed for the purchase, with just over 1.7 million in the bank at the end of December. The company's current market valuation is $6 million.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 3 February.