White Cliff Minerals Limited (ASX:WCN) agreed to acquire Mineral Fields and Soak Sands and Border Exploration for AUD 0.72 million on May 18, 2023. Consideration of cash of AUD 0.01 million, 70 million fully paid ordinary shares to be issued upon approval at a meeting of shareholders and Additional cash and equity securities owned by the Companies will be converted to shares in White Cliff equal to the market value of those equity securities at the date of issue, at the issue price of AUD 0.006 per White Cliff share. Based on today’s price, it is anticipated to be no more than 19 million new White Cliff shares to be issued.

The transaction is subject to successful due diligence and shareholder approval.