Applyflow Limited entered into an agreement to acquire a portfolio of copper and rare earth exploration projects comprising the Fairfield and Fintry Projects.
Completion of the Acquisition is subject to and conditional on the following conditions precedent (Conditions Precedent) being satisfied or waived: (a) the Company obtaining all necessary shareholder approvals as are required (including under the Buyer's constitution, the Listing Rules and the Corporations Act) to give effect to the of the Acquisition and Re-Compliance (together, the Transaction) including the Consolidation (see below) and the change of name of the buyer to FMR Resources Ltd; (b) the Company receiving applications and subscription funds for the full amount of the Public Offer; (c) the Company conducting technical, financial and legal due diligence on the Company and its assets and being satisfied with the results of such due diligence in its absolute discretion; (d) following shareholder approval of the Consolidation, the Company undertaking the Consolidation; (e) the Company receiving a conditional listing letter from the ASX for the re-compliance of the Company, on terms which are capable of satisfaction; (f) disposal by the Company of the existing business of the Company on terms reasonably acceptable to the shareholders of Canada Future Metals; and (g) the vendors conducting financial and legal due diligence on the Company and its assets and being satisfied with the results of such due diligence in its absolute discretion.