Apollo Minerals Limited (ASX:AON) agreed to acquire Belgrade Copper Project for AUD 1.4 million on August 29, 2023. Under the terms, Apollo will issue 30 million shares, 10 million unlisted options exercisable at AUD 0.05 expiring 3 years from issue, 10,000,000 unlisted options exercisable at AUD 0.075 expiring 3 years from issue (together, the Upfront Consideration), all to be issued at completion, 20,000,000 deferred shares following the announcement of a JORC compliant Mineral Resource of at least 12 million tonnes at a grade of 2 percent copper or equivalent within 5 years of the completion of the Acquisition, the issue of which is subject to shareholder and he grant of a 2% net smelter royalty on future production from Edelweiss over the licences and licence applications. Completion of the Acquisition is subject to Apollo Minerals completing due diligence, Apollo Minerals and the Vendor obtaining all necessary regulatory, ministerial, or third party approvals required to complete the Acquisition.

Apollo Minerals Limited (ASX:AON) completed the acquisition of Belgrade Copper Project on September 13, 2023.