Matsa Resources Limited (ASX:MAT) entered into a sale and purchase agreement to acquire Devon Gold Mine from GME Resources Limited (ASX:GME) for AUD 0.1 million on December 13, 2018. The consideration is comprised of AUD 0.05 million in cash and AUD 0.05 million to be settled at Matsa Resources Limited's election in either cash or by way of Matsa Resources Limited's ordinary shares. The transaction is subject to receiving the Minister for Mines approval to transfer the title and a 10 business day due diligence period which commenced on the December 12, 2018. GME Resources Limited retains a 1% net smelter royalty over any gold produced from the Devon tenements. The transaction is expected to be completed no later than December 28, 2018.

Matsa Resources Limited (ASX:MAT) completed the acquisition of Devon Gold Mine from GME Resources Limited (ASX:GME) in early January 2019. The consideration of AUD 0.1 million was paid in cash.