TVI Resource Development Philippines Inc. agreed to acquire Greenstone Resources Corporation from Red 5 Limited (ASX:RED) and others on July 28, 2021. Red 5 will be paid $19 million as part of the transaction. Consideration includes a grant, to Red 5, of a 3.25% net smelter return royalty payable on the sale of up to 619,000 oz. of gold produced from potential open-pit and underground operations at Siana, the ascribed value of the net smelter royalty is $35 million. TVI Resource Development Philippines Inc. intends to fund the cash portion of the purchase price from internal resources. The assets of Greenstone Resources Corporation include a modern 1.1 million tonnes per annum Outotec mill, gravity and Carbon-in-Leach facility, and all other key infrastructure together with the Siana, Mapawa and Ferrer tenements. The completion of the transaction is subject to the satisfaction or waiver of a number of conditions and regulatory approval. PCF Capital Group Pty Ltd acted as financial advisor, HopgoodGanim and Sycip Salazar Hernandez & Gatmaitan acted as legal advisors to Red 5. As on September 21, 2021. all conditions preceding to the transactions has been satisfied.