Oakajee Corporation Limited completed the acquisition of 80% interest in M59/549, P59/2075, P59/2083, P59/2085 and E59/2312, and E59/2092 from Bruce Robert Legendre.

Oakajee Corporation Limited entered into agreement to acquire 80% interest in M59/549, P59/2075, P59/2083, P59/2085 and E59/2312, and E59/2092 from Bruce Robert Legendre for AUD 0.1 million on January 18, 2019. Under the terms of the transaction, Oakajee Corporation Limited will pay AUD 0.05 million in cash and will issue shares for amount of AUD 0.05 million. The cash consideration of AUD 0.02 million has been paid as deposit and AUD 0.03 million in cash and the shares will be issued on completion. The transaction is subject to due diligence, completion of a capital raising by Oakajee Corporation Limited, shareholders’ approval of Oakajee Corporation Limited, conditional approval from ASX for the reinstatement of the Oakajee Corporation Limited securities to official quotation of ASX, and other required customary and regulatory approvals. The meeting of the shareholders will be held on March 25, 2019. As of April 24, 2019, the shareholders of Oakajee Corporation approved the transaction. The transaction is expected to close on May 13, 2019. As per the update on June 19, 2019, the transaction is expected to be completed by July 1, 2019. Oakajee Corporation Limited will pay 1.5% Net Smelter Return to Bruce Robert Legendre. Oakajee Corporation Limited completed the acquisition of 80% interest in M59/549, P59/2075, P59/2083, P59/2085 and E59/2312, and E59/2092 from Bruce Robert Legendre during the quarter ended on June 30, 2019.