Top End Energy Limited (ASX:TEE) agreed to acquire NT Exploration Permits (EP) 144, 153 and 154 from Minerals Australia Pty Ltd and Jacaranda Minerals Ltd on February 27, 2024. The completion of the acquisition is conditional upon and subject to parties entering into definitive documents; receipt of regulatory approval for the transfer of title to the Permits; and obtaining all other consents or approvals required in connection with the transaction. The funds raised from the placement will be used primarily to fund near-term exploration activities on the Permits, ongoing holding costs following completion of the acquisition of the Permits and ongoing corporate working capital.

The completion is expected in Q2 2024.