Bezant Resources Plc (AIM:BZT) entered into a conditional share purchase agreement to acquire Metrock Resources Ltd from Tiger Royalties and investments Plc, Breamline Pty Ltd and M & A Wealth Pty Ltd for £0.93 million on December 21, 2020. As per the agreement, Bezant Resources Plc will issue 150 million new ordinary shares and will issue 31.8 million unlisted options in the share capital of Bezant. The options will have a strike price of £0.0040 per share. Bezant Resources Plc will also issue a total of 84.5 million shares to acquire Loans of £0.19 million and settle creditors of £0.03 million owed by Metrock which will be issued i) to two of the vendors namely 50.4 million Bezant shares to Breamline Pty Ltd and 5.8 million Bezant shares to M&A Wealth Pty Ltd and ii) 28.3 million Bezant shares to Tiger Royalties and Investments Plc. The Bezant Resources Plc will at completion settle creditors of Metrock of approximately AUD 26,508 (approximately £14,900) in cash. Upon the Milestone Event, Bezant will issue £0.2 million worth of Bezant Shares based on the 10 day VWAP prior to the announcement of the Milestone Event. The transaction is subject to Botswana Ministerial approval. The long stop date for the completion of the conditions precedents is March 15, 2021. Roland Cornish of Beaumont Cornish Limited acted as financial advisor to Bezant Resources Plc.

Bezant Resources Plc (AIM:BZT) completed the acquisition of Metrock Resources Ltd from Tiger Royalties and investments Plc, Breamline Pty Ltd and M & A Wealth Pty Ltd on February 12, 2021.