Umdoni Exploration Inc. (CNSX:UDI) entered into a binding letter agreement to acquire 1273180 B.C. Ltd. for CAD 1.53 million on January 18, 2024. The consideration includes 7,000,000 common shares of the Company, which are not subject to Canadian restrictive legends. The Company also needs to make a cash payment of CAD 0.23 million within 180 days of the date of this news release to certain shareholders.

The closing of the transaction is subject to the completion of satisfactory confirmatory due diligence by the Umdoni Exploration Inc. and acceptance by the Canadian Securities Exchange.