Rhyolite Resources Ltd. (TSXV:RYE) agreed to acquire Muckahi Inc. from Fred Stanford for CAD 15.7 million on September 7, 2021. Rhyolite Resources Ltd. will pay the 9.5 million common shares to Fred Stanford of which 1 million common shares will be delivered to Fred Stanford as of the closing date of the transaction and the remaining 8.5 million common shares will be deposited in escrow. The escrowed shares will be released from escrow to Fred Stanford in tranches (1 million; 2 million; 2 million; and 3.5 million, respectively) over a four-year period, on each succeeding 12-month anniversary of the Closing Date, conditional upon Fred Stanford remaining involved with the Rhyolite Resources Ltd. in any capacity other than as a shareholder as at each anniversary date. Fred Stanford is appointed as Chief Executive Officer and Director of Rhyolite Resources Ltd. The transaction is subject to the prior approval of the TSX Venture Exchange.