Metals Exploration plc (AIM:MTL) agreed to acquire unknown majority stake in Yamang Mineral Corp. and Yamang Mineral Corp Pte. Ltd. for $1.6 million on January 12, 2024.

As part of the transaction, Metals Exploration will acquire 72.5% in Yamang Mineral Corp. and entire issued share capital of Yamang Mineral Corp Pte. Ltd. Consideration comprises of $1.6 million of cash and plus the issue of options to subscribe for up to 41 million ordinary shares.

The transaction is subject to approval of the Metals Exploration's lenders and shareholders. Matt Hasson and Franck Nganou of Hannam & Partners (Advisory) LLP and James Spinney, James Dance and Rob Patrick of Strand Hanson Limited acted as the financial advisors to Metals Exploration plc (AIM:MTL).