African Energy Metals Inc. (TSXV:CUCO) entered into an agreement to acquire Delta Exploration Mali Sarl from Rockgate Capital Corp for $5.5 million on January 17, 2023. Under the terms of the agreement, AEM will acquire all of the outstanding shares of Delta for a purchase price of $5,500,000 that shall be satisfied as follows: (i) at closing of the transaction, a cash payment of $500,000 and the issuance of AEM's common shares equal to a value of $2,000,000; and (ii) subject to the re-issuance of the Falea license, the issuance of AEM's common shares equal to a value $3,000,000. AEM will also grant GoviEx a 3% net smelter royalty on the Falea project. The transaction is expected to close on or before March 15, 2023, subject to several conditions, including but not limited to approval of the TSXV. The conditional approval of the TSX Venture Exchange was received on January 31, 2023. As on March 15, 2023, African Energy Metals Inc. and GoviEx Uranium Inc have agreed to extend the date of the share purchase agreement from March 15, 2023 to April 14, 2023. As on April 21, 2023, African Energy Metals and GoviEx Uranium Inc have agreed to extend the date of the share purchase agreement from April 14, 2023, to May 30, 2023. As on May 26, 2023, the closing date of the Transaction has been extended to May 31, 2023.
Sprott Private Wealth LP is acting as financial advisor to Rockgate Capital Corp and GoviEx.

African Energy Metals Inc. (TSXV:CUCO) cancelled the acquisition of Delta Exploration Mali Sarl from Rockgate Capital Corp on June 3, 2023.