SSH Group Limited executed a binding terms sheet to acquire Jacka Resources Limited (ASX:SSH) in a reverse merger transaction on October 1, 2020. Jacka Resources to acquire 100% of shares of SSH Group by issue of 20,500,000 fully paid ordinary shares. From The Public Offer Jacka Resources will utilize AUD 20.5 million for financing of this transaction. The Board following completion of the Acquisition and Offers will comprise of three Directors, namely Daniel Cowley-Cooper, Stefan Finney and Bruce Lane. Upon completion of the transaction Jacka intends to re-list on the ASX via an IPO and complete a capital raise of AUD 6.25 million. Transaction is subject to conditions including Jacka completing its due diligence enquiries to its sole satisfaction, Jacka obtaining all necessary shareholder approvals, the parties obtaining any necessary regulatory approvals; Jacka completing a consolidation of its issued capital on the basis of every 1,000 ordinary shares being consolidated into 1 ordinary shares; SSH Group obtaining any necessary consents or waivers from third parties that may be required as a result of the change in control of the or the SSH entities resulting from the acquisition; Jacka receiving commitments for the IPO capital raising of not less than AUD 5 million at an issue price of not less than AUD 0.2, Daniel Cowley-Cooper and Stefan Finney being employed on terms formally agreed between the parties at the time of executing the definitive agreements; and other conditions. Conditional listing approval had been received from the ASX as of June 30, 2021. Transaction is expected to close on September 10, 2021. GTP Legal acted as legal advisor and due diligence provider on legal matters to Jacka Resources Limited for a fee of AUD 117,849.

SSH Group Limited completed the acquisition of Jacka Resources Limited (ASX:SSH) in a reverse merger transaction on September 9, 2021.