Ora Gold Limited (ASX:OAU) entered into a binding agreement to acquire Murchison Project of Sipa Exploration NL for AUD 1.4 million on August 4, 2023. Under the terms, Ora Gold will pay AUD 0.6 million in cash and will issue 133 million shares as consideration of which 50% of cash payment and share consideration is payable on completion and the balance in 3 months after completion. Transaction is subject to obtaining all third-party approvals and consents (including any authorizations from any government agency) necessary.

Settlement of the transaction is expected to be completed on or around August 31, 2023. The acquisition is highly complementary to Ora Gold?s advanced Garden Gully Project and is considered value accretive for shareholders.