Caprice Holdings Limited signed an agreement to acquire Mukinbudin Rare Earth Element Project in Western Australia from Syndicate Minerals Pty Ltd and Curiosity Exploration Pty Ltd for AUD 0.47 million.

Caprice Holdings Limited signed an agreement to acquire Mukinbudin Rare Earth Element (REE) Project in Western Australia from Syndicate Minerals Pty Ltd and Curiosity Exploration Pty Ltd for AUD 0.47 million on December 16, 2022. Under the terms, consideration payable is 7,780,000 CRS ordinary fully paid shares; 7,000,000 options with a AUD 0.10 exercise price and 3 year expiry; and 15,000,000 options with a AUD 0.20 exercise price and 3 year expiry. 50% of the vendor shares are escrowed for 6 months with the remaining 50% escrowed for 12 months.

In related transaction, Caprice has received firm commitments to raise approximately AUD 1.34 million (before costs) through a strongly supported share placement to institutional and sophisticated investors at AUD 0.05 per share. All Consideration for the Acquisition is subject to shareholder approval, with a meeting to be held in the new year.