Wildcat Resources Limited (ASX:WC8) entered into an exclusive, binding, conditional agreement to acquire Tabba Tabba Lithium-Tantalum Project from Global Advanced Metals Wodgina Pty Ltd. for AUD 7.5 million on May 17, 2023. Consideration of 186,660,512 Shares in Wildcat and 62,220,171 Performance Rights that will vest and be capable of exercise into Shares (on a 1 for 1 basis) upon Wildcat announcing an Inferred Mineral Resource on the Tabba Tabba Project of equal to or greater than 100,000 tonnes of contained Li2O, with a cut-off grade of 0.1% Li2O. In addition to the Consideration Securities, Wildcat will grant to GAM a 0.75% gross revenue royalty with respect to the sale of lithium products extracted from the Tabba Tabba Project, grant to GAM a 1% gross revenue royalty with respect to the sale of tantalum products extracted from the Tabba Tabba Project and assume GAM?s obligations under an existing 1% net smelter royalty with respect to the sale of tantalum products extracted from the Tabba Tabba Project granted in favour of RCF Management L.L.C. Wildcat successfully completing a capital raising of at least AUD 5 million and holding a minimum cash balance of AUD 10 million.

Wildcat obtaining necessary shareholder approvals required by law or the ASX Listing Rules, which includes approval to issue the Consideration Shares, the Success Fee, Ministerial consent under the Mining Act (if required) to transfer the Tabba Tabba Tenements and to the registration of the Royalty Security following the transfer. Completion of Acquisition will be on July 28, 2023. As of July 30, 2023, The transaction is expected to be completed by ending 30th of September 2023.

As on October 5, 2023, the transaction received Ministerial consent. Meredith Campion, Raphael Parvin and Peter Wilkes of Allen & Overy LLP acted as legal advisor to Global Advanced Metals Wodgina Pty. Ltd.