- Reward Minerals (ASX:RWD) enters into a share sale agreement with the receivers of Kalium Lakes (ASX:KLL) for the acquisition of the Beyondie SOP project in WA
- The transaction is valued at $20 million and is debt-free and unencumbered
- The consideration consists of a previously made $250,000 exclusivity payment, an upfront cash payment of $14.75 million, and a deferred cash consideration of $5 million, due by June 30, 2025
- RWD shares are up 12.5 per cent, trading at 9 cents at 12:34 pm AEDT
Reward Minerals (ASX:RWD) has entered into a binding share sale agreement with the receivers of Kalium Lakes (ASX:KLL) for the acquisition of the Beyondie SOP project in Western Australia.
The transaction is valued at $20 million and is debt-free and unencumbered.
The consideration consists of a previously made $250,000 exclusivity payment, an upfront cash payment of $14.75 million, and a deferred cash consideration of $5 million, due by June 30, 2025.
“Reward is pleased to have progressed the potential acquisition of the Beyondie SOP project on a debt-free basis, free of encumbrances to the execution of the Share Sale Agreement stage,” RWD Executive Director Michael Ruane said.
Upon the agreement completion, Reward is planning to do a 12-month care and maintenance phase for the Beyondie project, utilising this period to address operational challenges.
Post-transaction, Reward aims to integrate the ‘Reward Process’ into the Beyondie project’s infrastructure, leveraging existing resources.
RWD shares were up 12.5 per cent, trading at 9 cents at 12:34 pm AEDT.