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Heads of Terms signed with Kalahari Copper Li...
Heads of Terms signed with Kalahari Copper Li....
About this update from Oscillate Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\nOscillate PLC(\"Oscillate\" or the \"Company\")9 July 2025Heads of Terms signed with Kalahari Copper LimitedOscillate PLC, a company advancing global exploration and development-stage strategic metals opportunities focussed on Copper, is pleased to announce that it has entered into a non-binding Heads of Terms (\"HoTs\") with Kalahari Copper Limited (\"Kalahari Copper\") to acquire, a BVI company which holds via its wholly owned Botswanan subsidiary, prospecting licences over Dalsu Prospects in Botswana. The Dalsu licences incorporates 17, 100% owned, highly prospective licences (which have been granted or which have been applied to be transferred to Kalahari Copper) in the Kalahari Copper Belt (\"KCB\") and the Bushman Lineament, (together the \"Dalsu Prospects\") (the \"KCB Licences\"), to be acquired through a share purchase agreement (\"SPA\").The KCB Licences of the Dalsu Prospects give Oscillate a pathway to 100%-ownership of highly prospective copper and silver exploration tenements and one of the largest tenement packages in the KCB, assuming that all applications are transferred. The KCB Licences consist of three highly strategic project areas along strike, and adjacent to, producing mining operations, MMG's high-grade Zeta Zone Cu-Ag deposit1 and Sandfire's T3 Motheo Cu-Ag Production Hub2. With the KCB Licences, the Company will target unexplored basin margins and strike extension of known deposits with ideal geological position for sedimentary copper. The licence in the Bushman Lineament PL85 is adjacent to the Kopane mine currently operating in this region.Terms Having completed the first phase of due diligence, the Company has made a non-refundable payment of GBP500,000 to Kalahari Copper. In agreement with Kalahari Copper some of these funds may be used for the 2025 work programme required on certain of the Dalsu Prospects. Oscillate has been offered an exclusivity period which expires on 30 September 2025, to complete due diligence on the Dalsu Prospects and enter into final binding documentation (\"Exclusivity Period\"). Subject to the due diligence and restructuring, the consideration payable by Oscillate, upon finalising of the SPA, will be such number of Ordinary Shares in Oscillate which will equate to 30% of Oscillate's issued and outstanding Ordinary Shares. The con...