Pilar Gold Inc. agreed to acquire Pocon? Mining Mineracao Ltda from Valterra Resource Corporation (TSXV:VQA) on May 1, 2021. The terms of the sale of PMM to Pilar Gold are as follows: (i) Pilar Gold will issue to Valterra 4 million common shares in the capital of Pilar Gold at a deemed price of CAD 0.60 per share, representing a purchase price of CAD 2.4 million for 100% of Valterra's equity and debt interests in PMM, subject to adjustment contingent upon the issue price of Pilar Gold?s proposed IPO; and (ii) Pilar Gold will assume the remaining acquisition payments for PMM?s Livramento project of CAD 3.6 million (BRL15 million) (plus index adjustments). Valterra will issue 8 million common shares and 8 million share purchase warrants to the PMM quota holders to complete the acquisition of PMM pursuant to the purchase agreement dated September 3, 2020. Settlement of the outstanding amount of CAD 0.23 million in respect of consulting agreements compensation between Valterra and the PMM quota holders contemplated in the Purchase Agreement by issuance to the PMM quota holders of 4.5 million common shares in the capital of Valterra at a deemed price of CAD 0.05 per share. The closing of the transaction is subject to TSX Venture Exchange approval. Valterra Resource Corporation's board of Directors has approved the sale of Pocon? Mining Minera??o Ltda. As on July 19, 2021, Valterra Resource Corporation has received approval of TSX Venture Exchange.