Applyflow Limited (ASX:AFW) entered into an agreement to acquire a portfolio of copper and rare earth exploration projects comprising the Fairfield and Fintry Projects on March 11, 2024. On completion of the Acquisition, the Company will issue 4 million fully paid ordinary shares in the capital of the Company (Shares), 1.8 million options and 1 million performance shares. On completion of the Acquisition, and subject to the Company obtaining shareholder approval, the Company intends to change its name to ?FMR Resources Ltd?. The Company is also proposing to change its ASX code to ASX:FMR in line with the proposed name change. The Company will restructure its Board and Key Management Personnel to reflect the Company?s shift to mineral exploration and development. Subject to shareholders approving each of the Transaction Resolutions (defined below), Non-Executive Director John Winters will resign from the Board and experienced geologist Bill Oliver will be appointed as Non-Executive Director. As a consequence of the Transaction, Acting Chief Executive Officer Richard Swanton will resign from his employment. On completion of the Transaction, the Board and Key Management Personnel will consist of Steven Papadopoulos as Non-Executive Chairman, and Ian Hobson and Bill Oliver as Non-Executive Directors.

Completion of the Acquisition is subject to and conditional on the following conditions precedent (Conditions Precedent) being satisfied or waived: (a) the Company obtaining all necessary shareholder approvals as are required (including under the Buyer's constitution, the Listing Rules and the Corporations Act) to give effect to the of the Acquisition and Re-Compliance (together, the Transaction) including the Consolidation (see below) and the change of name of the buyer to FMR Resources Ltd; (b) the Company receiving applications and subscription funds for the full amount of the Public Offer; (c) the Company conducting technical, financial and legal due diligence on the Company and its assets and being satisfied with the results of such due diligence in its absolute discretion; (d) following shareholder approval of the Consolidation, the Company undertaking the Consolidation; (e) the Company receiving a conditional listing letter from the ASX for the re-compliance of the Company, on terms which are capable of satisfaction; (f) disposal by the Company of the existing business of the Company on terms reasonably acceptable to the shareholders of Canada Future Metals; and (g) the vendors conducting financial and legal due diligence on the Company and its assets and being satisfied with the results of such due diligence in its absolute discretion.

Applyflow Limited (ASX:AFW) completed the acquisition of Canada Future Metals Pty Ltd on June 21, 2024. The transaction is approved by shareholders of Applyflow Limited.