Rugby Mining Limited (TSXV:RUG) agreed to acquire Proximo Resources Pty Ltd on July 22, 2021. Consideration comprises of 50 million common shares of Rugby and 3.5 million Rugby options. Rugby will issue 46 million Rugby Shares to acquire 20.39 million Proximo ordinary shares representing all of the issued shares of Proximo. In addition, Rugby will acquire 8 million Proximo stock options in consideration for 4 million Rugby Shares and 3.5 million Rugby Options. The Rugby Options will be issued under Rugby?s stock option plan. Each Rugby Option will be exercisable to acquire one Rugby common share at a price of CAD 0.10 per share expiring January 13, 2026. The Rugby Shares issued in consideration for the Proximo shares and options will, in addition to the 4 month statutory hold period imposed under applicable securities law, be subject to contractual voluntary escrow, with such Rugby Shares being released from escrow as follows: 25% six months following closing, 25% twelve months following closing, 25% eighteen months following closing and 25% twenty-four months following closing. Proximo's Salvadora Project and Deseado Project will also be acquired. The Proximo management will form a key part of the Rugby team going forward. Upon closing of agreement, the new Chief Executive Officer and President of Rugby will be Peter Love, the current Chief Executive Officer of Proximo. Bryce Roxburgh and Yale Simpson will share the role of Non-Executive Chairman of Rugby. Paul Joyce, Glen Van Kerkvoort and Arturo Correa will lead Rugby?s exploration team. Paul Joyce will step down as a director, while maintaining his position as Chief Operating Officer, and Rugby will increase the number of directors to seven to facilitate the appointment of Peter Love, Chief Executive Officer of Proximo, as a director and President and Chief Executive Officer of Rugby and Glen Van Kerkvoort as a Director and Chief Technical Officer of Rugby. As of August 24, 2021 Rugby Mining Limited announces that its board of directors has approved a proposed private placement offering of up to 20,833,333 units at a price of CAD 0.12 per Unit for gross proceeds of up to CAD 2,500,000. Completion of the Offering is one of the conditions of the recently announced proposed acquisition of Proximo Resources Pty Ltd. The transaction is subject to TSX Venture Exchange acceptance, Rugby raising a minimum of CAD 2,500,000 and the appointment of 2 Proximo directors to the Board of Directors of Rugby. As of August 24, 2021, the TSXV has conditionally accepted the transaction. Upon completion of the Offering and fulfilment of the other conditions listed in the conditional acceptance by the TSXV of the Transaction, which are anticipated to occur within the first two weeks of October 2021, and subject to final TSXV acceptance, Rugby Mining expects to be in a position to close the acquisition of Proximo. The transaction is expected to close by August 31, 2021. As of October 15, 2021, Rugby Mining announced that fulfilment of the conditions listed in the conditional acceptance by the TSXV of the transaction are anticipated to occur before the end of October 2021, and subject to final TSXV acceptance, Rugby Mining expects to be in a position to close the acquisition of Proximo. Derek Pocock of Baker & Mckenzie acted as legal advisor to Proximo Resources. Cyndi Laval of Gowling WLG (Canada) acted as legal advisor to Rugby Mining. Rugby Mining Limited (TSXV:RUG) completed the acquisition of Proximo Resources Pty Ltd on October 27, 2021. As part of the transaction, Rugby issued to the Sellers an aggregate of 50 million Common Shares and to the Proximo Option holders (who will become eligible persons to receive options under Rugby's stock option plan post-closing), stock options to acquire, until January 13, 2026, up to 3,500,000 Common Shares of Rugby at a price of CAD 0.10 per share. In connection with the Private Placement, Rugby issued 33,414,312 units (the Units?) at CAD 0.12 per Unit to raise CAD 4,009,717. Pursuant to the acquisition, Peter Love has been appointed a Director, Chief Executive Officer and President of Rugby and Bryce Roxburgh and Yale Simpson have been appointed as Co-Chairmen. Paul Joyce has stepped down as a director to facilitate the appointment of Glen van Kerkvoort as a Director and Chief Technical Officer. Joyce will continue in his role as Chief Operating Officer. PricewaterhouseCoopers LLP, Chartered Professional Accountants acted as auditors of the Rugby.