DMC Mining Limited (ASX:DMM) entered into an agreement to acquire Mining Development Resources SARLU from Michael Minosora and Sam Randazzo for AUD 0.75 million on June 24, 2024. The consideration consists of 15 million common equity of DMC Mining Limited having a deemed value of AUD 0.75 million to be issued for common equity of Mining Development Resources SARLU. following the completion of the transaction Michael Minosora and Sam Randazzo will join the DMC Board.

Completion of the acquisition is subject to the following conditions precedent being satisfied (or waived) on or before September 30, 2024, Current Executive Chairman, David Sumich, will transition into the Managing Director role. the Company being satisfied with its due diligence investigations in respect of Mining Development and Labé Projects, in its absolute discretion, the grant of exploration licenses over the Labé Projects, the company obtaining all relevant shareholder approvals required or which the company considers to be desirable under the Listing Rules and the corporations act to complete the acquisitions and capital raising on terms reasonably acceptable to the company, the company and the vendors obtaining all necessary regulatory approvals or waivers pursuant to the ASX Listing Rules, Corporations Act or any other law to allow the Company and the Vendors to lawfully complete the acquisition, obtaining of any consent or approval by any governmental authorities, on terms reasonably acceptable to the Company, that is required in connection with the acquisition, obtaining of any third party approvals and consents necessary to allow the company and the vendors to lawfully complete the acquisition, completion of the capital raising, and the company being satisfied, acting reasonably, that it will be able to meet all of the requirements of Chapters 1 and 2 of the ASX Listing Rules to permit the company?s shares to be reinstated to trading on ASX soon after completing the acquisition. The Company currently has 46.35 million shares on issue.

In conjunction with the Re-compliance, the company is proposing to issue the following securities: 50 million shares and 130 million performance shares to the Veridis Vendors and the Mining Development Vendors, 100 million shares under the capital raising, 8.1 million shares to CPS capital as an introduction and facilitation fee, and 2 million shares and 6 million performance rights to proposed Managing Director, David Sumich. Following completion of the Acquisition:, the Vendors will hold 22.68% of the Company?s issued share capital.