MVI Ireland s.r.o. conditionally entered into an agreement to acquire IMC Exploration Group Public Limited Company (LSE:IMC) in a reverse merger transaction on April 14, 2021. As per terms of transaction, The issue of the initial consideration shares to the seller will result in the seller holding 51% of the enlarged issued share capital of IMC. Subject to meeting successive milestones, further tranches may be issued which could result in the seller holding up to 59.17% of the issued share capital of IMC. Further New Ordinary Shares may be allotted and issued by IMC to the seller as deferred consideration for the acquisition on the achievement of certain milestones specified in the framework agreement entered into on April 14, 2021 between IMC and the Seller in connection with the acquisition. The Board of IMC will be increased by the addition of two directors appointed by the Seller. From an operational point of view in Armenia, a country manager, and a senior geologist, will become employees of Assat. Transaction is subject to due diligence, shareholder approval and approval by the the Board of IMC and other customary closing conditions. The Board intends unanimously to recommend in the Combined Circular and Prospectus that IMC shareholders vote in favour of the requisite shareholder. The closing date of the Acquisition will be on or as soon as practicable after the date on which IMC and the Seller notify each other of the satisfaction or waiver of the conditions.