Locksley Resources Limited (ASX:LKY) entered into a binding agreement to acquire REE Mojave Project in California for approximately AUD 1.15 million on June 15, 2023. The consideration of AUD 1.15 millions includes 10 million ordinary shares of Locksley Resources along with up to AUD 0.5 million in cash. 5 million unlisted options to acquire Shares, exercisable at AUD 0.10 on or before 30 March, 2026. Subject to the Company receiving all supporting documentation reasonable requested and being satisfied that this payment represents reimbursement of expenditure incurred by ESM in developing the Enigma Project, the Company agrees to pay up to AUD 0.5 million in cash to ESM. The deal is subject to approval from shareholders of Locksley Resources, regulatory approval and consummation of due diligence. The Company will seek obtaining the necessary regulatory, statutory and third-party approvals, shareholder approval for the issue of the Consideration Shares, Consideration Options and Performance Rights.

Locksley Resources Limited (ASX:LKY) completed the acquisition of REE Mojave Project in California on August 28, 2023.