GCM Ltd. entered into a conditional sale and purchase agreement to acquire MMP Resources Limited (SGX:F3V) for approximately SGD 120 million in a reverse merger transaction on April 28, 2020. The transaction consideration is approximately SGD 120 million which will be paid through the issuance of 39.3 billion shares at the price of SGD 0.003 per share. The transaction is subject to receipt by the MMP from the SGX-ST of the listing and quotation notice for the listing and quotation of the Consideration Shares on the Mainboard of the SGX-ST, such LQN remaining in full force and effect and not having been revoked or amended, and where such approval is subject to conditions, such conditions being acceptable to the Parties, approval of the shareholders of MMP, due diligence investigation and the approval of a whitewash resolution from independent Shareholders for the waiver of their rights to receive such a mandatory general offer. The long stop date for the transaction shall be 12 months from the date of the share purchase agreement or such other date as the Parties may mutually agree in writing. As of January 27, 2021, additional time is required to complete the relevant financial due diligence, the Company is unable to submit the foregoing pre-clearance application to the Exchange. Evolve Capital Asia is appointed as financial advisor to MMP Resources Limited. GCM Ltd. cancelled the acquisition of MMP Resources Limited (SGX:F3V) in a reverse merger transaction on January 28, 2021.