Raiden Resources Limited (ASX:RDN) agreed to acquire 80% stake in 5 lithium tenements in Pilbara region of Western Australia from Welcome Exploration Pty Ltd for AUD 0.42 million on June 28, 2023. Raiden will pay cash consideration of AUD 50,000 and issue fully paid ordinary shares to the value of AUD 365,000. The shares are subject to a period of six months voluntary escrow from the date of completion. Raiden will issue 40,965,208 shares to Welcome in satisfaction of its obligations under the agreement. The transaction is subject to completion of due diligence to the satisfaction of Raiden Resources, the parties receiving all necessary regulatory approvals or consents and/or complying with all requirements imposed by any regulatory body and any relevant third party, executing a deed of assignment and assumption in relation to any applicable third-party agreements pertaining to the tenements. As of August 21, 2023, Raiden has completed satisfactory due diligence.

Raiden Resources Limited (ASX:RDN) completed the acquisition of 80% stake in 5 lithium tenements in Pilbara region of Western Australia from Welcome Exploration Pty Ltd on August 21, 2023.