Botala Energy Ltd. announced a series of strategic developments that mark significant milestones for Botala's journey towards becoming a leader in renewable energy within Botswana and Southern Africa. Botala has agreed to acquire the remaining 30% of the Serowe Coal Bed Methane (CBM) Project from its joint venture partner Pure Hydrogen Corporation Limited. Botala has executed the agreement to acquire the remaining 30% interest in the Serowe CBM project from Pure Hydrogen, making Botala the sole owner.

This strategic move consolidates Botala's asset base in Botswana, enhancing its operational control and potential revenue from the project. The purchase agreement involves Botala issuing 14.5 million shares to Pure Hydrogen, comprising 6 million shares (Consideration Shares) to be issued on completion (utilising the Company's available placement capacity pursuant to ASX Listing Rule 7.1) and an additional 8.5 million shares (Deferred Consideration Shares) to be issued subject to Botala shareholder approval pursuant to ASX Listing Rule 7.1, alongside a milestone payment of AUD 750,000 contingent on Sharpay achieving gas reserves certification of 50PJ or 50bcf of 2P reserves on the Serowe CBM Project or more. This structured consideration aligns the interests of both companies towards maximising the project's value.