Ookami Limited (ASX:OOK) has entered into a binding share sale agreement to acquire First Lithium Pty Ltd from First Lithium vendors for AUD 10.55 million on November 2, 2022. In consideration for the acquisition of First Lithium, Ookami has agreed to issue First Lithium an aggregate of 43,625,000 shares and 15,000,000 performance shares, subject to the milestones set out (30,500,000 options exercisable at AUD 0.30 each on or before the date which is 3 years from the date of issue). On completion of the acquisition, subject to Ookami shareholder approval, First Lithium Pty Ltd name will be changed to First Lithium Limited.

As on February 28, 2023, Ookami anticipates that a general meeting of shareholders, seeking the necessary shareholder approvals to proceed with the acquisition of First Lithium Pty Ltd will be held in April 2023. As on March 14, 2023, the Ookami and First Lithium having obtained all regulatory consents and approvals which are necessary for the Proposed Acquisition, including all approvals required from the ASX. As of November 3, 2022, the transaction is expected to complete on March 8, 2023.