Strategic Natural Resources Plc (AIM:SNRP) entered into a share purchase agreement to acquire 6% stake in Millennium Energy Corp. (OTCPK:TMLL.D) from Ivory Mint Holdings Corp for £2.4 million on May 19, 2014. As part of consideration, Strategic Natural Resources paid £0.4 million in cash and £2 million to be satisfied by the issue of 40 million ordinary shares, issued at 5 pence per share. The 40 million ordinary shares will be issued as soon as practicable. The transaction was subject to approval by the Strategic Natural Resources's Nominated Advisor Allenby Capital Limited and approval of the Board of Strategic Natural. The approval was sought on May 19, 2014. However as of June 23, 2014, when Allenby Capital Limited resigned, such approval had yet to be obtained. On June 11, 2014 an amended agreement with Ivory Mint was reached pursuant to which a further £0.26 million was paid. On June 27, 2014 by mutual agreement Ivory Mint Holdings and Strategic Natural agreed to cancel the second agreement made on June 11, 2014, and revert to the agreement of May 19, 2014. Ivory Mint Holdings Corp delivered the 5 million common shares of Millennium Energy to Strategic Natural Resources. Strategic Natural Resources and Ivory Mint have agreed that the additional £0.26 million paid to Ivory Mint Holdings in connection with the cancelled agreement of June 11, 2014 will be repaid to SNR as soon as possible and used to pay creditors.

Strategic Natural Resources Plc (AIM:SNRP) cancelled the acquisition of 6% stake in Millennium Energy Corp. (OTCPK:TMLL.D) from Ivory Mint Holdings Corp on July 21, 2014. As per the termination agreement, Ivory Mint Holdings will repay the £0.66 million to Strategic Natural Resources within 90 days.