Alicanto Minerals Limited (ASX:AQI) entered into a binding agreement to acquire Falun copper/gold/zinc mine and surrounding tenements from Explora Mineral AB for AUD 0.2 million on November 9, 2022. The consideration comprises of an immediately payable cash deposit of AUD 10,000, a cash payment on completion of AUD 40,000 and issue 3.6 million Alicanto shares to the value of AUD 150,000. The agreement is subject to two conditions, Alicanto being satisfied (in its sole and absolute discretion) with the outcome of its due diligence investigations in respect of the assets and approval of the transfer of the tenements to Alicanto by the Mining Inspector pursuant to the Minerals Act of Sweden. As of February 15, 2023, Alicanto Minerals has advised Explora that the first condition has now been satisfied and to commence the approvals process for the transfer of the tenements to Alicanto.

Alicanto Minerals Limited (ASX:AQI) completed the acquisition of Falun copper/gold/zinc mine and surrounding tenements from Explora Mineral AB on May 1, 2023.