Many Peaks Minerals Limited entered into binding Share Sale Agreement to acquire CDI Holdings Limited from Turaco Gold Limited and Predictive Discovery Limited for £0.21 million.

Many Peaks Minerals Limited (ASX:MPK) entered into binding Share Sale Agreement to acquire CDI Holdings (Guernsey) Limited from Turaco Gold Limited (ASX:TCG) and Predictive Discovery Limited (ASX:PDI) for £0.21 million on March 26, 2024. CDI Holdings is an 89% of Turaco, held with Predictive Discovery Limited (Predictive), holding an 11% free carry ownership in a joint venture with Turaco. The will trigger Turaco?s drag-along right in its joint venture with Predictive, whereby Many Peaks will also acquire Predictive?s remaining 11% interest and consolidate ownership of the joint venture entity CDI Holdings.

The Company will issue a total of 5,617,978 fully paid ordinary shares in Many Peaks under the Company?s capacity under ASX listing rule 7.1 to Turaco and Predictive Discovery Limited (ASX:PDI) a interest in CDI Holdings (Guernsey) Ltd with; 5,000,000 shares to be issued to Turaco subject to a 12-month escrow an 89% interest in CDI Holdings and 617,978 shares to be issued to Predictive subject to a 12-month escrow an 11% interest in CDI Holdings. Assignment of a Royalty Deed from Turaco to Many Peaks a net smelter royalty payable to Resolute (Treasury) Pty Ltd. The Royalty Deed grants Resolute a 1% NSR on Many Peaks? share of future production from permits held in the GIV Joint Venture.

The Company will also pay to the Vendor all future proceeds and received the of the Boundiali South Permit pursuant to a binding term sheet between Aurum Resources Limited (ASX:AUE), Turaco, CDI Holdings and Predictive Discovery Cote d?Ivoire SARL. Completion of the Agreement is conditional upon: Turaco providing a drag-along notice to Predictive for the remaining 11% interest in CDI held by Predictive - COMPLETED; Predictive acknowledging the expiry and/or cancellation of the 10,000,000 performance shares held in Turaco; no event, occurrence or matter having a material adverse effect on CDI or the permits held by it; none of Turaco's warranties given under the Agreement becoming untrue, incorrect or misleading; Many Peaks and Turaco obtaining all necessary regulatory approvals or waivers pursuant to the ASX Listing Rules, Corporations Act or any other law to allow the parties to lawfully complete the matters set out in the Agreement; and Many Peaks and Turaco obtaining all third-party approvals and consents necessary to lawfully complete the matters set out in the Agreement.