Bubalus Resources Limited entered into binding sale agreement to acquire Tenements of E09/2724 and E09/2725 from Hardy Metals Pty Ltd for AUD 0.42 million.

Bubalus Resources Limited (ASX:BUS) entered into binding sale agreement to acquire Tenements of E09/2724 and E09/2725 from Hardy Metals Pty Ltd for AUD 0.42 million on September 18, 2023. Under the terms of agreement, Bubalus Resources will pay consideration by issuing 2,350,000 fully paid ordinary shares and a cash payment of AUD 75,000. The transaction is expected to complete in early November 2023.

Completion of the acquisition is subject to Bubalus completing due diligence on the Tenements, Bubalus and Hardy Metals obtaining necessary shareholder approvals, parties obtaining all necessary corporate, governmental, regulatory and third party approvals. Inyati Capital Pty. Ltd. acted as financial advisor to Bubalus Resources.