Bubalus Resources Limited completed the acquisition of Jarrah Nia Exploration Pty Ltd from Thomas Edward Langley for AUD 0.12 million.
Settlement of the acquisition is subject to and condition on Bubalus completing financial, legal and technical due diligence on Jarrah and the CNEPP Tenements to Bubalus' satisfaction; Bubalus undertaking a capital raising pursuant to a prospectus lodged with ASIC and receiving valid acceptances under the offer to the value of not less than AUD5,000,000; Bubalus receiving conditional approval in writing from the ASX to admit Bubalus to the Official List on terms acceptable to Bubalus and all material conditions under the conditional approval letter being satisfied in a manner acceptable to Bubalus; the parties obtaining all necessary shareholder approvals required to lawfully complete the acquisition; the parties obtaining all necessary corporate, governmental, regulatory and third party approvals, consents and waivers required to lawfully complete the acquisition; and he parties entering into a royalty deed to document the Royalty. If any of the conditions precedent are not satisfied or waived by Bubalus on or before on November 30, 2022, then either Bubalus or the Jarrah Vendor may terminate the Jarrah Acquisition Agreement by notice in writing to the other parties.
Bubalus Resources Limited (ASX:BUS) completed the acquisition of Jarrah Nia Exploration Pty Ltd from Thomas Edward Langley for AUD 0.12 million on October 7, 2022. cash consideration of AUD 0.0209 million and through the issue of 500,000 shares at a deemed issue price of AUD 0.20.