Orminex Canada Ltd entered into a non-binding term sheet to acquire Rocmec 1 and Denain projects from Nippon Dragon Resources Inc. (TSXV:NIP) for CAD 5 million on May 24, 2021. Orminex signed an agreement to acquire Rocmec 1 and Denain projects from Nippon Dragon Resources Inc. on August 30, 2021. Orminex will pay the cash consideration of CAD 5 million in three installments over the course of one year with CAD 2 million payable on closing of the transaction, CAD 1.5 million payable six months from the Commencement Date and CAD 1.5 million payable twelve months from the Commencement Date. In addition to the Purchase Price, Orminex has agreed to pay to Nippon Dragon an additional CAD 1.085 million to fund Nippon?s ongoing exploration program on the Denain exploration project. Nippon Dragon will retain title to the Projects until Orminex has completed payment of the Purchase Price in full, with transfer deeds being executed and held with a third-party escrow agent until such time. Orminex Limited parent of Orminex Canada Ltd will fund the purchase price by way of a placement of AUD 8 million (CAD 7.4 million) and a share purchase plan of AUD 1.5 million (CAD 1.4 million). As of September 21, 2021, Nippon is also extremely pleased to announce that Mark van Schaik will be joining the company as Technical Director effective upon shareholder approval of the proposed transaction between Nippon and Orminex. The transaction is subject to TSX Venture Exchange and at least 66.67% Nippon Dragon shareholders' approval, in a meeting scheduled to be held on October 28, 2021. Nippon has received conditional approval of the proposed transaction. As of October 6, 2021, Nippon?s management and board strongly recommend shareholders vote in favor of the proposed transaction. As of October 11, 2021, The name of Rocmec has been changed to Labyrinthe Gold Project (Labyrinthe). The transaction has been approved by TSX Venture Exchange. As of October 12, 2021, the shareholders of Nippon Dragon Resources approved the transaction. Nippon Following the Annual General Meeting of Orminex on October 29, 2021 standard documentation will be provided to the Exchange to enable Completion of the Transaction, expected on or before November 5, 2021. As of November 1, 2021, The transaction has received approval from shareholders of Orminex Canada Ltd and Nippon Dragon Resources at general meeting held by Nippon and Labyrinth on October 28, 2021 and October 29, 2021. Frank Mariage, Jean-Philippe Cote, Nathalie Lauzier, Ryan Rabinovitch of Fasken Martineau DuMoulin LLP advised Nippon Dragon Resources Inc.