Ronin Resources Ltd (ASX:RON) entered into binding agreement to acquire Ontario Battery Metals Pty Ltd for AUD 0.68 million on June 21, 2023. Under the terms of the transaction, Ronin will pay AUD 0.05 million in cash and will issue 3.2 million fully paid ordinary shares. Ronin Resources to raise AUD 0.3 million through the issue of 2,000,000 fully paid ordinary shares at an issue price of AUD 0.15 per share to support exploration at the Hornby Lake Project.

Post completion, Marnus Bothma will be appointed as as a Non-Executive Director, with existing Director Wilson Escobar to resign from the Board. The transaction is subject to completion of due diligence on Ontario Battery Metals and the Lake Hornby Project and is expected to close on June 27, 2023.