Oscillate PLC to Acquire Kalahari Copper Limited's Licences in Namibia and Botswana
Oscillate PLC has entered into a conditional sale and purchase agreement with KCL Investments Ltd to acquire all shares in Kalahari Copper Limited, including its licences in Namibia and Botswana. The acquisition aims to enhance Oscillate's exploration position in emerging copper belts, specifically the Kaoko Basin and Kalahari Copper Belt. The agreement includes an initial payment of £500,000, shares representing 30% of Oscillate's capital, and potential milestone payments. Andrew Benitz will join the board as Non-Executive Director, and Richard James has been appointed CFO.
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Oscillate PLC has agreed to acquire Kalahari Copper Limited, which includes exploration licences in Namibia and Botswana. The acquisition is expected to position Oscillate in the Kaoko Basin and Kalahari Copper Belt, areas deemed historically underexplored.
The deal involves an initial cash payment of £500,000 and shares equating to 30% of Oscillate's capital upon AIM market admission. Further milestone payments of £1.5 million will occur based on project developments.
Andrew Benitz will join as a Non-Executive Director, and Richard James has been appointed as CFO. This acquisition aligns with Oscillate's strategy to exploit rising copper demand.
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