K-Drill Pty Ltd and K-Drill Equipment Pty Ltd entered into an agreement to acquire Surface Reverse Circulation (RC) Drilling business of Swick Mining Services Limited (ASX:SWK) for AUD 6.4 million on December 22, 2020. The consideration is paid in cash. The sale includes six surface RC rigs, associated equipment, inventory, personnel and contracts. The transaction is subject to certain conditions precedent being satisfied or waived by January 25, 2021, including K-Drill obtaining suitable debt finance for the acquisition, K-Drill entering into suitable employment or services agreements with key employees, and customary material adverse changes and regulatory approval conditions. The transaction is expected to close on February 1, 2021. K-Drill Pty Ltd and K-Drill Equipment Pty Ltd completed the acquisition of Surface Reverse Circulation (RC) Drilling business of Swick Mining Services Limited (ASX:SWK) in early February 2021.