Coolabah Metals Limited (ASX:CBH) entered into a binding agreement to acquire Hampden Lithium Pty Ltd for AUD 0.96 million on May 2, 2023. Coolabah Metals will issue 10,000,000 fully paid ordinary shares and 5,000,000 performance rights which convert into shares (on a 1:1 basis) upon the results from rock chip samples collected in-situ from any of the Assets, which record a grading of at least 1% Li2O. In related transaction, Coolabah Metals has received firm commitments from sophisticated and professional investors for the Capital Raising to raise AUD 1 million through a placement of 10,000,000 shares at an issue price of AUD 0.10 each. The transaction is subject to due diligence on Hampden and the Assets, receiving evidence from Hampden (or otherwise being satisfied) that the Assets have been transferred to Hampden and Hampden is the sole legal and beneficial owner of the Assets; completing a capital raising of not less than AUD 1 million through a placement of 10,000,000 shares to professional and sophisticated investors at an issue price of AUD 0.10 per shares (Capital Raising); parties obtaining all necessary regulatory and shareholder approvals and parties obtaining all other necessary third-party consents, assignments and approvals to lawfully complete the matters set out in Acquisition Agreement.

Coolabah Metals Limited (ASX:CBH) completed the acquisition of Hampden Lithium Pty Ltd on July 21, 2023.