Nickel Mines Limited (ASX:NIC) signed a Conditional Share Purchase Agreement to acquire Tablasufa Nickel Project from PT Best Resources and Bolt Metals Corp. (CNSX:BOLT) for $8.5 million on December 22, 2021. The transaction is subject to completion of satisfactory due diligence, at Nickel Mines absolute discretion, extension of the Tablasufa Production IUP and positive Bolt Metals shareholder approval.

As on January 14, 2022, The transaction will be put to Bolt Metals's shareholders for approval at an Annual General and Special Meeting of shareholders to be held on March 8, 2022. Nickel Mines may also elect to terminate the Agreement and receive a cash payment of $250,000 if Bolt does not obtain shareholder approval for the Transaction. The terms of the transaction will be set out in detail in Bolt Metals's Management Information Circular to be prepared in connection with the meeting, which is expected to be available under the Company's profile on or about February 10, 2022.

Bolt Metals's board and management intend to vote in favor of the transaction at the meeting.