Critical Mineral Resources PLC (LSE:CMRS) acquired Hesperis Resources SARL from Noureddine Sabraoui and others on January 16, 2024.The agreement is split into two stages, with an Initial Consideration of £0.5 million payable by the issue of 3,000,000 ordinary shares, followed by Deferred Consideration of £0.75 million payable by the issue of 1,500,000 shares, conditional on CMR electing to commence exploration drilling on any one of the Hesperis permits. the acquisition includes 26 exploration permits in central Morocco prospective for copper, antimony, tungsten, lead-zinc and gold. Noureddine Sabraoui, the Company's Chief Operating Officer, is a 25% beneficial owner of Hesperis. The directors of CMR confirm that having exercised reasonable care, skill and diligence, the related party transaction is fair and reasonable insofar as the shareholders of Critical Mineral Resources are concerned.

Critical Mineral Resources PLC (LSE:CMRS) completed the acquisition of Hesperis Resources SARL from Noureddine Sabraoui and others on January 16, 2024.