Superior Lake Zinc Project of Superior Lake Resources Limited (ASX : SUP) entered into a binding agreement to acquire CROPS Inc. (TSXV:COPS) for CAD 20.1 million in a reverse merger transaction on September 9, 2020. In consideration for the transfer to CROPS of 100% of Superior Lake Zinc Project, CROPS will issue 128.9 post-consolidation shares to Superior Lake and pay AUD 0.2 million cash payment to Superior Lake, in addition to an initial non-refundable payment of CAD 25,000 which has been advanced to Superior Lake; CROPS will assume the rights and obligations of the underlying purchase and option agreements regarding the Pick Lake and Winston Lake deposits, including make the Final Pick Lake Payment of CAD 0.5 million. The consideration CROPS shares received by the Superior Lake will be escrowed as follows: 50% for six months, 25% for 12 months and 25% for 18 months from the date of the TSX-V final bulletin.

As part of the transaction, CROPS Inc. will consolidate its common shares on 10:1 basis, settle in full the principal amount of its existing debentures, plus accrued interest, totaling CAD 5.4 million by issuing 20.96 million post-consolidation common shares of the Company, raise a minimum of CAD 3 million via a private placement of subscription receipt at either CAD 0.12 or CAD 0.1 per receipt, which receipts will be converted at the closing of the Acquisition into a total of 30 million post-consolidation common shares of the Company. It is anticipated that upon completion of the transactions, the Company will have 186,869,852 common shares issued and outstanding, of which Superior Lake will own approximately 70.9%. As of November 30, 2020, it is anticipated that upon completion of the foregoing transactions, CROPS will have 190,069,852 common shares issued and outstanding, of which Superior Lake will own approximately 67%.

CROPS will continue the company's jurisdiction from the Yukon to British Columbia and change its name to "Metallum Resources Inc." Upon completion of the acquisition, James Walchuck and David Laing will be appointed as directors of CROPS, and Walchuck will also be appointed as President and Chief Executive Officer of CROPS in the place of Simon Ridgway. Ridgway will continue as Chairman of the Board, and Gordon Tainton will step down as President. James Walchuck has been appointed as President of CROPS in the place of Gordon Tainton. Gordon remains on the Board of Directors of CROPS. As of January 26, 2021, James Walchuck will not be appointed to the CROPS' Board and management team upon completion of the transaction and Kerem Usenmez will be appointed as the CROPS' President and Chief Executive Officer prior to closing, and as a Director on closing. Based on the terms of the transactions, CROPS will apply to the TSX Venture Exchange (the "TSXV") to have its listing graduated from Tier 2 to Tier 1. The transaction can be terminated under certain circumstances. A break fee of CAD 0.15 million will be payable to CROPS if Superior Lake Resources terminates the agreement subject to certain conditions and a break fee of CAD 0.13 million will be payable by CROPS to Superior Lake Resources subject to certain conditions.

Completion of the acquisition is subject to a number of conditions which must be satisfied or waived by November 30, 2020 (or such other date as agreed between the parties), including approval by the shareholders of CROPS and Superior Lake, completion of the capital raising by CROPS, preparation of a NI 43-101 compliant technical report on the Project, CROPS having received approval from TSXV that the CROPS shares will be listed for trading following completion of the transaction, and approval by the Australian Stock Exchange, conversion of outstanding CROPS debentures that will result in the issue of approximately 21 million post-consolidation CROPS shares, CROPS completing a 10:1 consolidation of its share capital and other conditions that are customary for a transaction of this nature. A general meeting of Superior Lake shareholders is expected to be held towards the end of October 2020. As of January 26, 2021, CROPS received conditional approval of the transaction from the TSX Venture Exchange. As of February 10, 2021, the CROPS shareholder meeting will be held on March 18, 2021. The annual and special meeting of CROPS held on March 18, 2021, shareholders voted approximately 99% in favour of all matters brought before the meeting including the transaction, the continuation of the Company from Yukon to British Columbia, and company name change to Metallum Resources Inc. Computershare Trust Company of Canada acted as transfer agent for CROPS.

Superior Lake Zinc Project of Superior Lake Resources Limited completed the acquisition of CROPS Inc. (TSXV:COPS) in a reverse merger transaction on April 1, 2021. As part of transaction, Superior Lake has received 128,920,000 CROPS shares and CAD 0.72 million cash.