Goldoz Limited (ASX:G79) entered into a binding agreement to acquire Placer Gold Pty Ltd from Bannister Group Pty Ltd and Geoprospect Pty Ltd on April 21, 2022. The consideration includes: Issue the Vendors, pro-rata to their existing shareholding in Placer Gold, 2,750,000 fully paid ordinary shares in the capital of G79 at settlement of the Acquisition, subject to shareholder approval; b) pay the Vendors AUD 0.3 million in cash, pro-rata to their existing shareholding in Placer Gold, in tranches as follows: i. AUD 0.075 million upon execution of the Agreement by all parties; ii. AUD 0.225 million on Settlement; c) pay the Vendors AUD 0.2 million in cash , pro-rata to their existing shareholding in Placer Gold, in tranches as the following Milestones are achieved: i. AUD 0.05 million on the day of mobilisation of a maiden drill rig at the Tornado and Holmes prospects. ii. AUD 0.15 million on the day the Company announces a maiden mineral resource (in accordance with the JORC Code 2012) at the Hurricane Project. d) grant the Vendors a royalty of 2% of the net smelter return on all minerals, mineral products and concentrates, produced and sold from the Tenements and includes a buy-back option and obligations on the Company to make royalty milestone payments in the event a mining lease is applied for and granted over the tenements. To assist the Company to re-comply with Chapters 1 and 2 of the ASX Listing Rules, the Company proposes to undertake a capital raising via the issue of 27.5 million shares, at an issue price AUD 0.20 per share, to raise AUD 5.5 million (“Capital Raising”). The acquisition remains conditional on: (a) the parties receiving all necessary ASX, government and third party consents and approvals required to complete the acquisition; (b) the Company completing the Capital Raising; (c) the Company receiving a letter from ASX confirming that ASX will conditionally re-instate the Company's securities to the Official List of ASX, on terms acceptable to the Company; and (d) the Company making an application to the ASX to define the vendors as “vendors of a classified asset with < 10% interest, that are neither a related party or a promoter” and request for a 12 month escrow period for the Consideration Shares.


Goldoz Limited (ASX:G79) completed the acquisition of Placer Gold Pty Ltd from Bannister Group Pty Ltd and Geoprospect Pty Ltd on October 27, 2022.