iTech Minerals Pty Ltd signed a legally binding share sale agreement to acquire All mineral tenements from Archer Materials Limited (ASX:AXE) on April 12, 2021. As per the transaction, iTech Minerals Pty Ltd will issue 50 million Consideration Shares to Archer Materials Limited. As a part of the transaction, iTech Minerals Pty Ltd will acquire shares of SA Exploration Pty Ltd, Archer Pastoral Company Pty Ltd and Pirie Resources Pty Ltd that hold Archer Materials Limited's mineral tenements. The transaction is subject to NSW Government approval to the change in control of SA Exploration Pty Ltd, iTech Minerals Pty Ltd raising at least AUD 5.0 million and listing on ASX, Archer receiving ATO Demerger relief and Archer Materials Limited shareholder approval. As of August 30, 2021 Archer shareholders approved the deal. All the deal conditions has been fulfilled with except that of iTech obtaining ASX approval. As of October 10, 2021, all conditions for the sale of the mineral exploration business to iTech Minerals Ltd have been satisfied. The transaction is expected to close by end of September 2021. As of October 10, 2021, the transaction is expected to close on October 14, 2021.

iTech Minerals Pty Ltd completed the acquisition of All mineral tenements from Archer Materials Limited (ASX:AXE) on October 14, 2021. iTech shares will be issued to eligible Archer shareholders with holding statements to be sent early next week.