Plutus PowerGen Plc signed Heads of Terms to acquire rights to a 61% interest in Mindouli Copper Project from Mayflower Capital Investments Pty Limited on December 9, 2021. Mayflower has made the initial up-front payment of $1 million and a further payment of $2 million is due on completion along with additional share-based consideration to Mayflower. Plutus PowerGen Plc is well advanced with its legal, technical and financial due diligence. In accordance with the Heads of Terms, two of Mayflower's nominees, Gerard Kisbey Green and Jason Brewer, will join the Board as non-executive directors effective December 1, 2021. The Acquisition is subject, inter alia, to the completion of due diligence, documentation, and compliance with all regulatory requirements, including the Listing and Prospectus Rules and as required, the Takeover Code.