MRG Metals Limited (ASX:MRQ) agreed to acquire Sasak Resources Australia Pty Ltd from El Gaia Holdings Pty Ltd, Julian Bavin, Bolte Investment Trust, Christopher Gregory and CJ&M Gregory Superannuation Fund for AUD 9.5 million in stock on March 15, 2013. MRG Metals will enter into a conditional agreement. The consideration consists of 15 million MRG shares subject to a voluntary escrow period of 12 months, a further 15 million shares subject to a voluntary escrow period of 24 months and an additional 15 million shares subject to a voluntary escrow period of 36 months. As on May 9, 2013, MRG Metals Limited (ASX:MRQ) executed a formal share sale agreement to acquire Sasak Resources Australia Pty Ltd. Additionally, MRG has also executed a technical services agreement and project generation agreement with Sasak Resources' shareholders on May 9, 2013.

Sasak Resources Australia Pty Ltd reported revenues of AUD 0 million, loss after tax of AUD 0.11 million, total net assets of AUD 0.11 million for the year ending June 30, 2012.Pursuant to the transaction, Chris Gregory and Adrian Manger, Director and Managing Director of Sasak respectively, will join the Board of MRG. Sasak Chief Technical Officer, Alfred Eggo will be responsible for using their in-house proprietary data mining technology on MRG's existing projects and for further project generation. Chris Gregory will be offered appointment as a Non-Executive Director of MRG within 7 days after approval by MRG shareholders of the proposed transaction. The transaction is subject to approval by the shareholders of MRG Metals Limited. The meeting of the shareholder of MRG is planned to take place in April/May 2013, to seek endorsement of the acquisition and Board changes.

The Directors of MRG Metals unanimously recommend that the shareholders should vote to approve the transaction. As of June 26, 2013, shareholders of MRG Metals Limited approved the deal. As of April 30, 2013, the transaction is expected to close in May or early June 2013. As of May 23, 2013, the transaction is expected to complete by June 28, 2013. Jol Rogers of KL Gates acted as the legal advisor and Andrew Gilmour and Glyn Yates of RSM Bird Cameron Corporate Pty Ltd acted as the fairness opinion provider to MRG Metals Limited. RSM Bird will receive a fee of AUD 27,500.