Estrella Resources Limited (ASX:ESR) executed an agreement to acquire Mt Edwards Lithium Pty Limited for AUD 3.2 million on November 7, 2016. Under the terms of the transaction 106 million Estrella Resources Limited shares will be issued as consideration. Completion of the acquisition is subject to execution of a mineral rights deed in relation to the lithium rights over the Apollo Phoenix Resources Pty Ltd tenements on terms acceptable to Estrella Resources Limited, due diligence being conduct by Estrella Resources Limited and approval from the shareholders of Estrella Resources Limited for the issue of the consideration shares. As of December 28, 2016 the transaction is approved by shareholders of Estrella Resources Limited (ASX:ESR). Estrella Resources Limited (ASX:ESR) completed the acquisition of Mt Edwards Lithium Pty Limited on January 6, 2017.