ChasWood Resources Holdings Ltd. announced that the company has on 24 November 2021 entered into a binding term sheet with Techna-X Berhad, in the Main Market, Dr. Wan Muhamad Hasni bin Wan Sulaiman, Nong You Hua and Satriya bin Suetoh in relation to the proposed acquisition of the entire issued and paid-up share capital of HK Aerospace Beidou New Energy Technology Co. Ltd. ('HKAB'), a company incorporated in the Hong Kong Special Administrative Region of the People's Republic of China by the Company, and a substantially -owned subsidiary of Techna-X.