Nexus takes MTIC share

Nexus Minerals has entered into a Heads of Agreement with the shareholders of MTIC Corporate that gives Nexus an option to acquire 20 per cent of the issued capital of MTIC.

Consideration of the acquisition, in the event the option is exercised, totals $650,000 to be satisfied by the payment of $200,000 and the issue of 4.5 million fully paid ordinary shares in Nexus.

Pursuant to the terms of the Heads of Agree-ment, Nexus has been granted exclusive rights to project manage and assist MTIC in a proposed listing on the Aust-ralian Stock Exchange.

This will give Nexus shareholders a priority right to subscribe for securities in MTIC.

MTIC has developed the I-NETPOS online payments product that includes the first Aust-ralian Secure Electronic Transaction Multi-currency Payments Processing Gateway.

I-NETPOS spans multiple payments products including hybrid SSL/SET, MOSET call centre applications, web-based billing/invoicing systems and credit card commerce for web stores and online merchants.