Coolabah Metals Limited (ASX:CBH) agreed to acquire 100% stake in Mining Licences 5571 & 5572 of Gunpowder Creek Project from Trevor James Stretton, Leo Anthony Murphy and John George Sourrys for AUD 0.097 million on November 21, 2022. Purchase consideration includes AUD 0.025 million cash, issue of 300,000 shares of Coolabah Metals Limited and 300,000 performance rights which will be converted to shares subject to to satisfaction of a performance milestone in relation to the Tenements. The performance rights expire within 12 months from the date of issue, which will be issued at completion of the heads of agreement. Based on the agreement the completion of due diligence by the Company on the sale assets to the satisfaction of the Company within 14 days from the date of agreement. The Board of Coolabah Metals Limited has approved this announcement.

Coolabah Metals Limited (ASX:CBH) completed the acquisition of Mining Licences 5571 & 5572 of Gunpowder Creek Project from Trevor James Stretton, Leo Anthony Murphy and John George Sourrys in December 2022.