Challenger Exploration Limited entered into binding agreement to acquire remaining 25% stake in Hualilan Gold Project from a group of shareholders for $17.8 million.

Challenger Exploration Limited (ASX:CEL) entered into binding agreement to acquire remaining 25% stake in Hualilan Gold Project from a group of shareholders for $17.8 million on July 9, 2021. As per the transaction, Challenger Exploration Limited will pay 64 million shares and cash payment of $3.69 million. Challenger Exploration Limited must pay the $3.69 million cash consideration to the vendors no later than July 30, 2021. As a part of the transaction, Sergio Rotondo will join Challenger Exploration Limited as Executive Director.