STAVELY PROJECTS

2020-12-15

On December 15, 2020, the Company closed its acquisition of the Stavely Projects. In exchange for acquiring 100% the Stavely Projects, Nubian paid AU$2,500,000 comprising AU$100,000 (CA$94,900) in cash as a deposit and issued 5,050,000 common shares of the Company in accordance with the Stavely LOI. The common shares issued are subject to a statutory hold period of four months and one day in accordance with securities laws. In connection with the acquisitions, the Company’s subsidiary, Blackwood Prospecting Pty Ltd., entered into a share Purchase Agreement with Van Diemens Gold Limited and Stavely Minerals Limited for the purchase of all of the issued and outstanding shares of Stavely Tasmania Pty Ltd, the owner of the Fosterville East project and the Lefroy and Mathinna projects, and a share purchase agreement with Lantech Developments Pty Ltd, Long Weekend (QLD) Pty Ltd and a private individual for the purchase of all of the issued and outstanding shares of Bestlevel Holdings Pty Ltd (“Bestlevel”), the part owner of three of Mathinna Exploration Licences. These three Exploration Licences in the Mathinna project had been held by Bestlevel and Stavely (as operator) pursuant to a farm-in agreement. In connection with the acquisition, the Company also issued 126,832 common shares as a finder’s fee.